Bastion Minerals (ASX:BMO) This early-stage exploration minnow,...

Bastion Minerals (ASX:BMO)

This early-stage exploration minnow, on the hunt for copper, gold, and green metals, hits the news and the gains again.

Last time BMO was pumping, which was only about a week ago, the news was centred around Chile, and the company’s announcement of its divestment of its Cometa copper project to Hot Chili (ASX:HCH).

The latter has officially entered into an option agreement to acquire Cometa for up to US$3.3 million, which BMO plans to put towards its primary focuses – its Canadian lithium project, but also its lithium/REE operation in WA and its REE hunting in Sweden.

It’s the latter focus that BMO is excited about today, with reports of an update on the high-grade copper potential that exists within the Gyttorp REE project.

Based on four over-range samples collected in the north of the property, BMO is reporting copper results between 2.5% and 8.5% Cu, plus 7.27% TREE+Y.

This continues the recent strong high-grade results found at Gyttorp, which is in Southern Sweden and is a project located on the southern end of a belt of iron and REE-enriched skarns, more than 100km long, known locally as the “REE-line”, with Bastnäs type REE mineralisation.



Among other things this morning, BMO’s executive chairman, Mr Ross Landles, imparted the following:
“These results confirm high copper grades from 2.5 to 8.5%, associated with chalcopyrite in historical magnetite skarn mine workings sampled over a distance of 80 m, and open in both directions.

“Sampling shows the REE mineralisation (up to 7.27% TREE+Y) is separate from the copper and associated with tremolite/actinolite skarn and or biotite schist, adjacent to magnetite skarn.

“We plan to carry out some higher resolution magnetic surveys, to provide higher resolution than the government 200 m line spaced airborne data. This will allow us to better define the magnetite skarn and areas of potential mineralisation.”