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Bastion Minerals (ASX:BMO) begins first exploration program since listing
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  • Bastion Minerals (BMO) has received assays from rock-chip sampling undertaken at the Cometa Copper-Gold Project in northern Chile
  • The company conducted two field work programs to target high-grade iron oxide copper gold mineralisation
  • Assays have been received for the first program with grades peaking at 4.42 per cent copper, 8.14g/t gold and 109g/t silver
  • 82 samples from the second program have been sent to the lab and results are expected in June
  • Company shares are up 5.41 per cent and are trading at 19.5 cents

Bastion Minerals (BMO) has received assays for the first rock-chip sampling program undertaken at the Cometa Copper-Gold Project in northern Chile.

The company has conducted two field work programs at the project to target high-grade iron oxide copper gold (IOCG) deposits.

The first program was designed to test previously unsampled areas that were identified through mapping and airborne magnetics.

Bastion collected 128 samples from five areas with the average copper grade being 0.51 per cent and peaking at 4.42 per cent copper. The average gold grade of the samples was 0.3g/t gold with a peak of 8.14g/t and the average silver grade was 8.77g/t with a maximum of 109g/t silver.

Executive Director Ross Landles was encouraged by the results.

"These exceptional new rock-chip results from our Cometa Copper-Gold Project underpin our belief in the potential of this unexplored copper district," he said.

The second field work program aimed to expand the observations made in the first program. Eighty five samples were collected and have been sent for assaying. Results are expect in the second week of June.

Bastion is planning to conduct mapping and further sampling in the next few months to define the extent of the IOCG mineralisation before drilling is planned.

Company shares are up 5.41 per cent and are trading at 19.5 cents at 1:25 pm AEST.

BMO by the numbers
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