Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bastion Minerals (BMO) has wrapped up an airborne magnetic survey at its Cometa Copper Project in northern Chile
  • This survey aimed to map the project’s alteration systems to expand them at depth and potentially make new discoveries
  • Pleasingly, the survey led to Bastion discovering multiple copper targets which will be followed up to help identify future targets
  • Additionally, Bastion is waiting on assay results from rock chip sampling and geological mapping undertaken at the project
  • Bastion Minerals’ shares are up 18.1 per cent to trade at 21.3 cents

Bastion Minerals (BMO) has wrapped up a high-resolution airborne magnetic survey at its Cometa Copper Project in northern Chile.

Cometa comprises 56 square kilometres of granted mining and exploration tenements that sit about 10 kilometres south of fellow ASX-lister, Hot Chili’s (HCH) Cortedara Project.

This survey is part of Bastion’s early-stage exploration plan which has also included rock chip sampling and mapping.

The survey aimed to map the project’s alteration systems to expand them at depth and potentially make new discoveries.

After processing and interpreting 1330-line kilometres of data from the survey, Bastion identified multiple high-priority copper targets.

Pleasingly, this work highlights large-scale alteration zones that are associated with existing high-grade copper surface samples.

“We are very excited by the new, large-scale geophysical work conducted and targets generated at our Cometa Copper Project,” Executive Director Ross Landles said.

“The identification of numerous anomalies reinforces the potential for high-grade iron-oxide-copper-gold and large-scale porphyry copper-gold systems within the Cometa district, similar to those seen within neighbouring deposits,” he added.

Bastion Minerals will refine the data from the newly discovered targets to help to identify more targets for future field work.

In addition, the company’s recent rock chip sampling work has shown a number of areas with broad copper oxide mineralisation at surface.

Assay results from the first round of field work are about to be released and results from the second campaign are expected early next month.

Bastion Minerals’ shares are up 18.1 per cent to trade at 21.3 cents at market close.

BMO by the numbers
More From The Market Herald

" EQ Resources (ASX:EQR) wraps up drilling at Mt Carbine

EQ Resources (ASX:EQR) has completed the phase one drilling program at the Mt Carbine Tungsten Mine…

" Sunshine Gold (ASX:SHN) grows rare earths scale at Elphinstone Creek

Sunshine Gold (ASX:SHN) grows the scale of neodymium and praseodymium rare earths.

" Image Resources (ASX:IMA) updates resource estimates at McCalls

Image Resources (ASX:IMA) has provided an update to the mineral resource estimate (MRE) of its recently…

" Kogi Iron (ASX:KFE) closes underwhelming share purchase plan

Kogi Iron (ASX:KFE) has closed its share purchase plan, raising $234,000 to fund upcoming work at…