Bastion (ASX:BMO) discovers high-grade copper amid Swedish rare earths

Bastion (ASX:BMO) discovers high-grade copper amid Swedish rare earths

February 28, 2024 Off By Jack Baker

Bastion Minerals’ reanalysis of samples beyond the 2.5 per cent portable detection limit has confirmed four instances of high-grade copper of up to 8.5 per cent clustered in the northern end of its Gyttorp rare earth asset in Sweden.

Another sample exceeding the pXRF-detectable cerium limit also returned with 2.96% Ce alongside 1.6% neodymium, taken from an open-ended rare earth trend which could continue over two kilometres of strike.

The sampling campaign had already confirmed the project’s widespread occurrence of magnetic rare earths, with the latest reanalysis further validating Gyttorp’s high prospectivity for both REEs and the red metal.

Bastion Minerals Executive Chairman Ross Landles said the company was pleased to have provided the updated values.

“These results confirm high copper grades from 2.5 to 8.5 per cent, associated with chalcopyrite in historical magnetite skarn mine workings sampled over a distance of 80 metres, and open in both directions,” he said.

“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.”

Mr Landles added the company planned to carry out higher resolution magnetic surveys to better define the magnetite skarn and areas of potential mineralisation for drilling.

“We are also evaluating the structural complexity of the area, where folding may control a thickening of mineralisation,” he said.

“Additional rock chip sampling is planned around April, once snow conditions allow, in this area of southern Sweden, where snow cover is relatively short.”

Bastion has established the highest grade rare earth area at Gyttorp, and continued sampling efforts are directed at defining the full lateral distribution of mineralisation associated with zones of magnetite skarn.

The project has been interpreted to have a similar geological setting to the famed Bastnäs rare earth mine 50 kilometres to the northwest, sitting on the southern end of a 100-kilometre-plus belt of iron and rare earth-enriched skarns.

Bastion will now continue work over its highest priority target areas for the information it needs to gauge a potential deposit size and line up targets for drilling.

BMO Gyttorp Map

Bastion has provided a map of the tenement showing 53 samples and their relative degree of REE mineralisation.

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