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

Bastion Minerals (ASX:BMO)

Bastion, an early-stage exploration minnow focused on copper, gold, and green metals, is up and to the right today on the back of beaut REE news.

It’s an update on its rare earths exploration on the strategic Gyttorp land holding in Southern Sweden.
That’s 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.

The company reports that 53 samples from old mine workings confirm the property is highly prospective for high-grade REE, with laboratory results to 6.8% (68,078 ppm) Total REE + Y (TREO including Cerium) and elevated results throughout the property.

Other high-grade total REE+Y samples exceeding 1.0% (10,000 ppm) include: 3.09%, 2.85%, 2.46%, 2.09%, 1.52%, 1.49%, 1.45%, 1.29% and 1.1%.

“The project also contains high-grade copper occurrences, with locally extensive chalcopyrite in the magnetite skarn, with concentrations in four samples over 2.5% copper that will be re-assayed to determine the higher values,” wrote BMO in an ASX announcement this morning.


BMO exec chair Ross Landles outlined what happens next:

“With this initial work completed, Bastion has established the area of highest REE and will continue the sampling program, to define the full lateral distribution of REE mineralisation associated with zones of magnetite skarn. Historical aeromagnetic data available from the SGU will also be optimised for the purpose of defining the magnetite skarns in the properties.

“Additional acquisition of magnetic data will be collected, if required, to better assist definition of potential tonnages of mineralisation and to target a drilling program.”