BMG Resources Secures Funding for Gold Project Expansion

BMG Resources Limited (AU:BMG) has released an update.

BMG Resources Limited has successfully raised $1.5 million through a share placement to fund expansion drilling at its Abercromby Gold Project. The project, located in a promising gold mining region, currently holds a maiden Mineral Resource Estimate of 518,000 ounces of gold, with significant potential for expansion. This funding will help advance the drilling program and feasibility studies, aiming to increase the resource and explore the viability of a gold mining operation.

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