Bastion (ASX:BMO) sample high-grade Swedish REE
February 14, 2024Bastion Minerals sampling has returned laboratory results of up to 6.8 per cent total rare earth oxide amid more elevated results at Gyttorp, confirming high prospectivity for high-grade rare earths across its landholdings in Southern Sweden.
The 53 samples from old workings from across the 115 square kilometre site also had grades of 3.09%, 2.85%, 2.46%, 2.09%, 1.52%, 1.49%, 1.45%, 1.29%, and 1.1%.
There were also four instances of copper exceeding the maximum 2.5% reading.
The results notably confirmed the widespread occurrence of prized magnetic rare earths with an average ratio of 20% TREO, with values up to 2.17%.
Bastion Executive Chairman Ross Landles said the samples had confirmed the tenor of originals from the Swedish Geological Survey, and reaffirmed the ground’s high-grade copper provided the company with further upside potential.
“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,” Mr Landles said.
He added that historical aeromagnetic data available from the Swedish Geological Survey would be optimised for defining magnetite skarns in the properties, and additional magnetic data could be acquired to better assist definition of potential tonnage and targets for the drill.
“Confirmation of the significant content of magnetic rare earths is of particular interest, given the relative value of these within the total collection of REE,” Mr Landles said.
“We are excited to be moving the project forward for these vital elements of high-tech manufacturing and look forward to providing an update on project activities, along with activities in Canada and Australia.”
Gyttorp sits on the southern end of a 100-kilometre-plus belt of skarns enriched in iron and Bastnäs-type mineralisation, a style found in the first hard-rock ores ever to be mined for rare earths – and which played a key role in the discovery of several of the elements.
Bastion sees its early sampling campaign as very promising, particularly toward an open 500-metre-long trend at the property’s north.
The location high-grade samples were sourced from on Bastion’s ground in Sweden
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