Bastion Minerals Ltd (ASX:BMO or the Firm) is happy to offer an replace on its actions in Sweden, the place the Firm holds the extremely potential high-grade copper (Cu) and Uncommon Earth Components (REE) Gyttorp space no. 100 property (Gyttorp Challenge or Gyttorp) and eight further properties alongside the REE line (Figures 1 and a couple of, Desk 1).
HIGHLIGHTS:
- Important outcomes returned with double digit proportion (%) REE and Copper, following Bastion’s just lately accomplished reconnaissance mapping and pXRF sampling program throughout new properties alongside the REE Line granted earlier this yr.
- As much as 18.5% Whole Uncommon Earth Components plus Yttrium (TREE+Y) and as much as 24% copper in pXRF analyses related to magnetite skarns, just like Gyttorp1 (that are indicative of mineralisation, however symbolize evaluation of solely small volumes of rock). Outcomes embrace:
- 18.56% REE (Striberg STRR001); 24.91% Cu (Striberg STRR002);
- 16.93% REE (Karlberg KARR001); 21.18% Cu (Karlberg KARR002);
- 11.2% REE (Karlberg KARR016); 19.93% Cu (Karlberg KARR037);
- 9.02% REE (Karlberg KARR010A); 13.32% Cu (Striberg STRR009);
- 6.97% REE (Striberg STRR012); 9.5% Cu (Karlberg KARR004);
- 6.25% REE (Karlberg KARR003); 8.01% Cu (Karlberg KARR021);
- 6.22% REE (Karlberg KARR010); 7.82% Cu (Nyberget NYRB004); and
- 5.66% REE (Striberg STRR011); 6.02% Cu (Karlberg KARR009).
- Properties host magnetite skarns, with widespread copper within the magnetite and REE mineralisation within the surrounding tremolite-actinolite alteration in a number of areas.
- The Firm is at present analysing the distribution of related base metals found throughout exploration and can report on these when lab outcomes are obtained.
- The excessive magnetic response within the authorities magnetic knowledge units represents the presence of in depth mapped historic magnetite mines, which has supplied a method of quickly focusing into the areas of highest potential.
- Extra sampling deliberate to permit rating of mineralised zones and number of drill targets for shallow REE and copper mineralisation. Laboratory assay outcomes anticipated late November.
Following granting of the extra properties earlier this yr, Bastion has undertaken reconnaissance sampling and pXRF analyses of REE and copper mineralisation. Preliminary analysis has proven that magnetite skarn is developed in calcareous horizons.
Bastion is utilizing the identical method on the newly granted properties situated additional north alongside the REE line. These properties comprise related type REE and copper mineralisation to that at Gyttorp. Reconnaissance sampling was accomplished in October utilizing a transportable XRF. Assay outcomes are anticipated throughout November from this preliminary rock chip sampling and mapping.
Commenting on the just lately accomplished reconnaissance mapping and pXRF sampling program throughout new properties, Government Chairman, Mr Ross Landles, stated:
“The REE mineralisation within the newly granted properties is of the identical skarn type as at Gyttorp, with related excessive grade outcomes. Given the intensive property holding alongside the REE Line, we are going to proceed to conduct sampling and mapping throughout the properties, so as to set up the areas with the best REE and Cu grades and the best thickness and size of mineralisation. This can enable us to rank the challenge areas and resolve which is the best precedence for drilling.”
“These properties have been prospected utilizing a pXRF and assay outcomes from these samples can be reported when obtained from the laboratory later this month.”
REE-Line Subject Actions
Preliminary prospecting, mapping and sampling has been accomplished in three of the eight new properties granted alongside the REE line. Work has been undertaken within the Striberg property, adjoining the north aspect of the Gyttorp space; the Nyberg property 20 km to the north and the Karlsberg property, probably the most northern of the eight properties.
Exploration outcomes from analysis of samples utilizing a transportable XRF to judge the presence of REE parts, copper and different base metals, confirmed that the whereas the Nyberget property contained some samples with elevated copper (to 7.8%) the samples in that challenge space had a most of 1.2% TREE + Y.
Samples from the Karlberg property have TREE + Y samples of as much as 17% (Figures 4), with native pXRF analyses of as much as 21% copper. Samples within the Striberg property, immediately north of Gyttorp, had TREE + Y values to 18.6% and copper to 24.9% (Determine 3), with a number of samples containing > 1% copper. Outcomes are introduced in Desk 2.
Determine 1: Location of the Gyttorp property (pink cross), with new properties inside the black sq..
The identical samples analysed with pXRF have been despatched to ALS laboratories for evaluation of the REE and sulphide suite of minerals with outcomes anticipated in late November.
Historic drill core from the Nyberget (Determine 2) challenge (historic Scartbergsgruvan prospect), the place copper mineralisation was traditionally intersected, can be reviewed to judge whether or not there’s related REE mineralisation.
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