Hamelin Gold (ASX:HMG) has been successful in its application for the 2024 BHP Xplor Program, assisting in its assessment of the nickel-copper-PGE potential of the Tanami Gold Province, located in Western Australia.
The BHP Xplor Program
BHP Xplor is a cohort-based world-first accelerator program dedicated to unearthing new critical mineral deposits.
The program aims to unite BHP experts, thought leaders and innovative mineral explorers to offer participants with the opportunity to accelerate their exploration concepts and establish a potential long-term partnership with BHP.
Participants are offered funding, mentorship and coaching, alongside connection into BHP’s extensive network of suppliers and service providers.
The innovative program merges concepts from venture-capital and early-stage accelerators, to establish a fit-for-purpose exploration portfolio of innovative, early-stage mineral exploration companies, with the ultimate goal being to help drive successful applicants’ exploration campaigns.
The head of the BHP Xplor program, Charlee Johnson, said the diversity and quality of the submissions amongst the applicants was amazing and inspiring.
“We are excited to partner with this cohort and help bring their ideas and passion for their exploration projects to life,” he said.
“We aim to accelerate this process and create disruptive results with new concepts, data and testing opportunities.”
The funding offered to participates comes in the form of a one-off, non-dilutive grant of up to US$500,000.
In return, BHP may retain certain pre-emption rights on the Company’s exploration projects for a 12-month period after the conclusion of the Xplor program.
Hamelin plans to use the funding to accelerate its exploration in WA, where in July 2023, it identified Ni-Cu-PGE mineralisation within the Hawkeye Mafic / Ultramafic Intrusion.
Figure 1: Disseminated and stringer magmatic sulphides. 140- 142m in TLR0022
Hamelin Gold’s Managing Director Peter Bewick commented on the Company’s successful application.
“We are thrilled to have been selected to participate in the 2024 BHP Xplor program,” he said.
“The identification of Ni-Cu-PGE mineralised, mafic-ultramafic intrusions by the Company in mid-2023 was a first for the Tanami region. Partnering with BHP through the Xplor Program will facilitate the accelerated assessment of the nickel-copper-PGE potential of this region through the provision of non-dilutive funding, together with the ability to access BHP’s world-class networks and expertise.”
“The Xplor funded program will be completed in parallel to our ongoing gold exploration in the Tanami which includes a planned RC drill program at the Sultan prospect commencing in March-April 2024.”
“This program is following up the identification through aircore drilling of extensive bedrock gold mineralisation at Sultan announced earlier in January 2024.”
HMG’s Australian Securities Exchange share price has risen 20% and is currently trading at $0.090 (10.45am UTC+ 8 hours).