Broken Hill Prospecting Sharpens HMS Focus

THE DRILL SERGEANT: Broken Hill Prospecting (ASX: BPL) announced it a refocusing of the company’s corporate strategy towards becoming a sizeable Heavy Mineral Sands (HMS) producer concentrating on the world-class Murray Basin in western New South Wales.

Broken Hill Prospecting wholly-owned subsidiary, Murray Basin Minerals Pty Ltd, applied for exploration licences for three new tenements known as Central Para (ELA 5450), Tararra (ELA 5451) and Budgeree (ELA 5449).

The tenement applications are located between Broken Hill and Mildura and adjacent to current BPL project areas.

Together with six exploration licences already owned wholly or in joint venture, BPL now claims the third largest tenement portfolio in the Murray Basin after industry leaders Iluka Resources Ltd and Cristal Mining.

“Broken Hill Prospecting’s new exploration team has undertaken an extensive data compilation and prospectivity analysis within the world-class Heavy Mineral Sands province covered by the Murray Basin,” Broken Hill Prospecting CEO Trangie Johnston said in the comapy’s announcement to the Australian Securities Exchange.

“Based on this analysis, new tenement applications containing high value mineralised strandlines will strategically expand BPL’s significant tenement portfolio to take advantage of improving HMS market conditions.”

BPL indicated an initial exploration program comprising 1,500m of shallow drilling will focus on the company’s 100 per cent-owned Springwood tenement (EL 8309) aimed at accelerating resource expansion

Additional exploration programs are currently being defined on BPL’s other 100 per cent-owned tenements.

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