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Bastion Minerals Ltd (ASX:BMO or the Company) is pleased to provide an update on its activities in Sweden, where the Company holds the highly prospective high-grade copper (Cu) and Rare Earth Elements (REE) Gyttorp area no. 100 property (Gyttorp Project or Gyttorp) and eight additional properties along the REE line (Figures 1 and 2, Table 1).
HIGHLIGHTS:
- Significant results returned with double digit percentage (%) REE and Copper, following Bastion’s recently completed reconnaissance mapping and pXRF sampling program across new properties along the REE Line granted earlier this year.
- Up to 18.5% Total Rare Earth Elements plus Yttrium (TREE+Y) and up to 24% copper in pXRF analyses associated with magnetite skarns, similar to Gyttorp1 (which are indicative of mineralisation, but represent analysis of only small volumes of rock). Results include:
- 18.56% REE (Striberg STRR001); 24.91% Cu (Striberg STRR002);
- 16.93% REE (Karlberg KARR001); 21.18% Cu (Karlberg KARR002);
- 11.2% REE (Karlberg KARR016); 19.93% Cu (Karlberg KARR037);
- 9.02% REE (Karlberg KARR010A); 13.32% Cu (Striberg STRR009);
- 6.97% REE (Striberg STRR012); 9.5% Cu (Karlberg KARR004);
- 6.25% REE (Karlberg KARR003); 8.01% Cu (Karlberg KARR021);
- 6.22% REE (Karlberg KARR010); 7.82% Cu (Nyberget NYRB004); and
- 5.66% REE (Striberg STRR011); 6.02% Cu (Karlberg KARR009).
- Properties host magnetite skarns, with widespread copper in the magnetite and REE mineralisation in the surrounding tremolite-actinolite alteration in multiple locations.
- The Company is currently analysing the distribution of associated base metals discovered during exploration and will report on these when lab results are received.
- The high magnetic response in the government magnetic data sets represents the presence of extensive mapped historical magnetite mines, which has provided a means of rapidly focusing into the areas of highest potential.
- Additional sampling planned to allow ranking of mineralised zones and selection of drill targets for shallow REE and copper mineralisation. Laboratory assay results expected late November.
Following granting of the additional properties earlier this year, Bastion has undertaken reconnaissance sampling and pXRF analyses of REE and copper mineralisation. Initial evaluation has shown that magnetite skarn is developed in calcareous horizons.
Bastion is using the same approach on the newly granted properties located further north along the REE line. These properties contain similar style REE and copper mineralisation to that at Gyttorp. Reconnaissance sampling was completed in October using a portable XRF. Assay results are expected during November from this initial rock chip sampling and mapping.
Commenting on the recently completed reconnaissance mapping and pXRF sampling program across new properties, Executive Chairman, Mr Ross Landles, said:
“The REE mineralisation in the newly granted properties is of the same skarn style as at Gyttorp, with similar high grade results. Given the extensive property holding along the REE Line, we will continue to conduct sampling and mapping across the properties, in order to establish the areas with the highest REE and Cu grades and the greatest thickness and length of mineralisation. This will allow us to rank the project areas and decide which is the highest priority for drilling.”
“These properties have been prospected using a pXRF and assay results from these samples will be reported when received from the laboratory later this month.”
REE-Line Field Activities
Initial prospecting, mapping and sampling has been completed in three of the eight new properties granted along the REE line. Work has been undertaken in the Striberg property, adjoining the north side of the Gyttorp area; the Nyberg property 20 km to the north and the Karlsberg property, the most northern of the eight properties.
Exploration results from evaluation of samples using a portable XRF to evaluate the presence of REE elements, copper and other base metals, showed that the while the Nyberget property contained some samples with elevated copper (to 7.8%) the samples in that project area had a maximum of 1.2% TREE + Y.
Samples from the Karlberg property have TREE + Y samples of up to 17% (Figures 4), with local pXRF analyses of up to 21% copper. Samples in the Striberg property, directly north of Gyttorp, had TREE + Y values to 18.6% and copper to 24.9% (Figure 3), with multiple samples containing > 1% copper. Results are presented in Table 2.
Figure 1: Location of the Gyttorp property (red cross), with new properties within the black square.
The same samples analysed with pXRF have been sent to ALS laboratories for analysis of the REE and sulphide suite of minerals with results expected in late November.
Historical drill core from the Nyberget (Figure 2) project (historical Scartbergsgruvan prospect), where copper mineralisation was historically intersected, will be reviewed to evaluate whether there is associated REE mineralisation.
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Pink Bark: Rare Earth, Kaolin and Uranium Potential
Key points
Further analysis carried out on samples from Allup’s 2023 drilling program has been returned with the following results:
- Significant uranium results up to 232ppm U3O8 and REE up to 980ppm for total TREE of 1,212ppm.
- Highest grade of 1,985ppm total rare earth oxide (TREO) in fresh bedrock from drill hole PB019, 21 to 22m
- Significant REE anomalism discovered in supergene and bedrock over a 7km x 7km area.
- Kaolin sampling confirms ISO Brightness, grainsize, and XRD mineralogy in four locations at Pink Bark Project.
- Raw insitu kaolin from Pink Bark is comparable to Australian kaolin deposits currently in production and demonstrates a marketable product with possible co-product silica.
- Graphite-rich bedrock intersected in the south of E63/2371, in particular in drill hole PBAC058.
APS carried out additional analysis from samples taken during its November 2023 drilling program at Pink Bark to test the underlying clays of licence E63/2138 for REE potential, and for thick kaolin accumulations over large areas. The holes were drilled to fresh bedrock (blade refusal) where possible, and the bedrock samples were assayed for multi-element geochemistry.
The Albany Fraser Province has recorded several uranium occurrences. The combined rare earth and uranium mineralisation at Pink Bark is very significant. Further drilling is required to test the mineralisation for size and grade potential.
This release focuses on the Kaolin, Uranium and Rare Earth potential of the Pink Bark Project following the results of an air core drilling program that was completed in November 2023.
Introduction
The Pink Bark Project, comprises three granted Exploration Licences and one pending application area, and is located in the Albany Fraser Province's Biranup zone, north of Esperance. The tenement was acquired to explore and develop silica sand, but numerous recent nearby discoveries of REE clay- hosted deposits prompted Allup to consider the potential for such deposits on its tenement holdings.
The Biranup zone has been shown to be rich in valuable REE by the Geological Survey of Western Australia (GSWA) and modern explorers. A number of ASX-listed companies have reported wide areas of saprolitic clay enriched in rare earths overlying the Biranup late-stage granite intrusive rocks.
These deposits have been compared to China’s clay-hosted REE deposits, which have been a major source of REE for the country’s battery industry. In the Albany Fraser Province a number of carbonatites with rare earth potential have been reported and explored for rare earth mineralisation, and the Biranup granites are also rapidly emerging as a focus for exploration for clay and carbonatite-hosted rare earth deposits.
Figure 1. Pink Bark Tenement and Drill Hole Location Map
Kaolin
Allup’s previous work on kaolin at Pink Bark was reported in ASX Release dated 7 May 2024, where a significant Exploration Target was announced. Additional work to define other characteristics were recommended and these are discussed below.
Allup engaged Independent Metallurgical Operations Pty Ltd to complete further mineralology, brightness and yellowness testing on 10 samples from 10 different drill holes.
Based on the test work conducted on the 10 samples from the Pink Bark Project, IMO concludes that the percentage passing 45 µm ranged from 22.7% to 62.4%, averaging 36.7%.
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September 2024 Quarterly Activities Report
- Pilot Plant Commissioning progress at 95%
- HiPurA® HPA New Zealand Patent Granted
- R&D refund advance from Radium capital
Pilot Plant Commissioning progress at 95%
ChemX previously announced the successful commissioning of the Pilot Plant Leach module in Q2 CY2024, and this remains in a state of operational readiness. Delays were experienced in the construction of the Solvent Extraction (SX) module due to longer than expected lead times on key process equipment and delivery of critical electrical infrastructure.
During this period in parallel, ChemX has progressed increased safety measures including:
- Completion of double containment bunding installations and additional double walled storage vessels
- Development of enhanced safety systems supporting integrated wireless control with interlocks, alarms, and automated shutdown/startup procedures
- Development of enhanced control capabilities for optimisation of key process parameters including historization and online trend analysis
The above initiatives deliver improved safety layers with regard to solvent extraction (SX) area management and provide key inventory hold points within the process where purity may be quantitatively verified against expected elemental purity before processing further.
These cost saving measures negate unnecessary processing of sub-standard interim process batches, build towards key commercial plant design considerations, and unlock advanced process optimisation capabilities.
Figure 1 – ChemX Team pictured alongside the HiPurA® SX electrical control cabinets following successful installation
Chief Executive Officer, Peter Lee commented:
"Unfortunate delays experienced within key process equipment deliveries and electrical infrastructure works were disappointing for ChemX. Working closely with key vendors we advanced in parallel other modules of the Pilot Plant to achieve operational readiness status.”
“Electrical infrastructure installation now determines the critical path for commissioning of the HiPurA® HPA Pilot Plant and ChemX is working with its contractor and suppliers to ensure this delivered as soon as possible.”
“The company has increased investment in enhanced process safety and control systems to support permitting of the various licenses linked to commissioning of the HiPurA® Pilot Plant processes.”
“A key advantage of the patented HiPurA® process is that it is not tied to mine development and related approvals and can be readily deployed in suitable jurisdictions close to key markets and customers such as the United States, Korea and Japan.”
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Reconaissance Sampling Highlights Potential for Rare Earths and Scandium at Radium Hill
- Assays of uranium mineralization from Radium Hill return highly elevated rare earths (up to 3.6% TREO) and scandium (up to 1081 ppm Sc2O3)
- HRE recently announced the acquisition of an 80% initial interest in uranium rights on a highly significant land package in South Australia’s Curnamona Province, including the Radium Hill Project
- These mineral rights extend to rare earths and scandium at Radium Hill
- Rare earths were first recognised at Radium Hill in 1908
- Academic studies of Radium Hill mineralization have recorded values of up to 7% REE12 and 3000 ppm Sc3
- 2.6 million lbs @ 0.12% (1,200 ppm) U3O8 was mined at Radium Hill between 1954 and 1961
Samples were analysed to test the potential for REE and Sc in uraniferous Radium Hill lode- style mineralization. These lodes are known to extend from the historic Radium Hill mine for at least 7 kilometres in a northeast direction to Bonython Hill (Figure 2). A total of five samples were collected from historic dumps, both within the historic Radium Hill Mine site, which is excluded from HRE’s Radium Hill project, and from lode extensions which are in the project area.
Mining at Radium Hill first occurred in 1908 with the main phase of mining taking place between 1954-1961. Although the main focus of mining was on production of uranium, the presence of significant quantities of rare earths have been known from the earliest stages.
Soon after discovery of Radium Hill in 1906, the famous geologist, Antarctic explorer and academic Sir Douglas Mawson, described a previously unknown uranium mineral which he named ‘davidite’ and noted the new mineral contains “a notable amount of rare earths, uranium, vanadium, and chromium”.4
During the main mining phase when 2.6 million lbs of U3O8 were mined, there was no attempt to extract rare earths or other metals until the last stages of the operation when a solvent extraction plant was constructed on the site by AMDEL (1960‐62). This plant produced mainly scandium with some yttrium oxide (Y2O3) and other rare earth oxides although production figures are unclear and ore assays unavailable.
Of the five samples in the current program, three (samples RH-1, RH-2, RH-C) were collected from ore dumps adjacent to the historic Radium Hill processing plant, one (RH-B) from a dump adjacent to a historic shaft at Radium Hill North and another (RH-A) from a stockpile at Bristowe's prospect. Sampling was designed to confirm historic reports of rare earths, scandium and other elements in Radium Hill-style uraniferous lode mineralization.
Assay results returned significant values for all five samples (Table 1).
Table 1: Radium Hill reference sample assays
In addition to uranium, it is apparent there are high concentrations of scandium and rare earths in these davidite-bearing samples which confirms the historic observations. The Company emphasises that these samples were collected and assayed for the purpose of checking the concentrations of metals associated with uranium in order to ascertain the validity of previous scant literature reports. These sample results are not purported to be representative of the mineralization in the region, which would require systematic sampling, including drilling and/or costeaning, to reach any firm conclusions. However, the associated metal results are sufficiently encouraging to warrant detailed follow up and inclusion in the Project’s future assay protocols and metallurgical treatment considerations.
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Strategic Copper and Gold Alliance for Tennant Creek
Emmerson Resources Limited, CuFe Limited and Tennant Minerals Limited are pleased to announce the formation of a Strategic Alliance to collaborate on their copper, gold and critical metals development opportunities in the Tennant Creek Region of the Northern Territory.
The Alliance aims include:
- Assess the development options including the viability of a single multi-user processing facility in the high- grade Tennant Creek region including:
- The optimal processing plant configuration and location
- Mine scheduling
- Final products to be produced
- Infrastructure requirements including workforce, travel, power, water, accommodation, transportation, logistics, services and supply of reagents
- Environmental requirements and considerations including permits and approvals
- General logistics
- Completing a Scoping Study on development options for the Emmerson and Tennant Minerals 100% owned deposits and the CuFe operated JV deposits (CuFe 55% / Gecko Mining Company P/L 45%)
- Upon completing the Scoping Study, undertake a Pre-Feasibility Study (PFS) on the preferred option(s) to develop the deposits
- Investigate potential synergies with other explorers and developers in the region
- A commitment to work collaboratively including joint funding of Alliance activities
- Activities to commence in Q4 2024
Tennant Minerals Managing Director Vincent Algar said: “The production history of Tennant Creek copper and gold supports the shared facility model we plan to investigate in this collaboration. The strategy will provide a shorter pathway to production and incentivise TMS to continue its exploration effort targeting further discoveries like Bluebird on our tenements.”
Emmerson Managing Director Mike Dunbar said: “A number of the high-grade copper, gold and critical metals deposits in the Tennant Creek region start as relatively small scale mines and grow significantly after mining commences. With modern environmental, regulatory and financial hurdles, development of these modest sized deposits independently is now significantly harder than it was historically. As a result, a collaborative approach of working together with like-minded ASX listed Companies to investigate shared facilities to build the scale of operations needed for a modern development is, in my opinion, the best way of developing the field. I am pleased to be working with the Tennant Minerals and CuFe teams, as I believe this will lead to the best development option for each of the Companies and the Tennant Creek community as a whole.”
CuFe Executive Director Mark Hancock said: “We are pleased to have signed a Strategic Alliance Agreement to investigate the potential for a single multi-user processing facility for copper, gold and critical metals for our Mineral Resources and others recent high-grade exploration discoveries in the Tennant Creek region of the Northern Territory. With the historical high-grade Orlando and Gecko deposits, which produced over 127,500t of copper and 232,000oz of gold, the remaining Mineral Resources form the backbone of the Alliance, while the ability to also leverage from the recent high-grade discoveries by Tennant Minerals and Emmerson in the region provides a unique development opportunity.”
Collectively the Parties control 7.3Mt @ 0.6g/t gold, 1.7% Copper for 145,000oz of gold and 127,000t of copper in Mineral Resources (See Table 1 for breakdown of the JORC Minerals Resources) in addition to the recent high-grade copper, gold and critical metals discoveries in the Tennant Creek region. This includes Tennant Mineral’s Bluebird discovery which has returned intersections of up to 61.8m @ 2.3% Cu and 0.4 g/t gold and 63m @ 2.1% Cu and 4.6g/t gold (See ASX:TMS announcements dated 12 February 2024 and 17 August 2022 ) and Emmerson’s Jasper Hills prospect and the nearby Hermitage discovery which has returned intersections up to 119m @ 3.3% Cu and 0.87g/t gold and 94.4m @ 2.74% Cu and 5.58g/t gold (see ASX:ERM announcement dated 17 August 2022).
The Alliance recognises that as with all of the historical high-grade deposits in the Tennant Creek district, developing the deposits independently can be economically challenging, however with collaboration the potential of the deposits can be combined, allowing the collective group to investigate larger, more meaningful and more financially attractive development options. This strategy will provide a significant shift in the scale of any potential development in the Tennant Creek district to the benefit of each of the Companies and the Tennant Creek community as a whole.
The proposed shared facility is similar to the way the Tennant Creek Mineral Field (TCMF) operated historically, with centralised processing facilities from a number of the high-grade mines “feeding” the processing facilities through a “hub and spoke” development and operational model. It is this style of development and processing solution that the Strategic Alliance plans to actively investigate. As a first step the Alliance has commenced a review of information to determine options for the initial Scoping Study, with a view to then moving quickly onto a Pre-Feasibility Study and we look forward to positive outcomes emerging.
There is a significant opportunity in the Tennant Creek region for development of a dedicated multi-user copper (and associated metals including gold) facility in the region. Any proposed copper, gold and critical metals facility would be independent of the CIL gold only facility currently under construction in the region by Emmerson’s joint venture partner TCMG.
Figure 1: Tennant Creek District showing the location of CuFe’s, Tennant Minerals’ and 100% Emmerson’s Projects and area covered by Emmerson’s Exploration JV (EEJV) with TCMGNote: Quoted production from major historical deposits after Ahmad, M. and Munson, T.J. (2013). Geology and mineral resources of the Northern Territory, Special Publication 5, For Chariot mine and Malbec West mine, quoted production from Giants Reef Mill Reconciled Production to end of month September 2005 (Giants Reef internal reporting).
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This article includes content from CUFE LTD, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.