BMG Resources (ASX:BMG) should firm in trade after commencing drilling at its Pevkos nickel-copper-cobalt-gold prospect within the Black Pine Project in Cyprus.
More than 20 holes have been planned for a 2,000 metre reverse circulation program at Pevkos, and also the Mala prospect within the separate Vrechia Project.
Drilling will target two discrete zones about 250 metres apart where massive and disseminated sulphides were discovered in the 1950s.
The main targets are strong transient electroMagnetic conductors, modelled as a 300 metre down-dip extension of the exposed eastern zone.
In addition, the western zone will be targeted where historic drilling and tunnels intersected significant sulphides.
A zone of massive pyrite containing 2% copper was previously identified at the area.
Recent work indicates that gold is associated with the copper. Other high-priority massive sulphide targets within 250 metres of the mine will also be investigated.
BMG will provide further updates as the drilling progresses.
Large mineralisation is being targeted and if intersected, the share price should respond well given BMG's light market cap of under $6 million.
News: BMG Resources kicks off nickel-copper-cobalt drilling in Cyprus
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