Bastion Minerals Unveils Exploration Expansion at ICE Project in Canada
BMO (BMO) Share Update December 2024 Sunday 1st
Bastion Minerals Identifies 11 New Targets at ICE Project, Canada
Bastion Minerals Ltd (ASX:BMO) has revealed significant exploration potential at its ICE Copper-Gold Project in the Yukon Territory, Canada, with the identification of 11 new exploration targets aimed at resource expansion and discovery of additional mineralized zones.
Instant Summary:
- Eleven new exploration targets identified at ICE Project, Canada.
- Less than 1% of the property has been drill tested.
- Potential for extension of known resources and discovery of new VHMS zones.
- Resource expansion and discovery of additional massive sulphide lenses prioritized.
- Historical prospecting found high copper soil concentrations, indicating potential new discoveries.
Exploration Potential at ICE Project
The ICE Copper-Gold Project, located in the Yukon Territory, Canada, presents a promising opportunity for Bastion Minerals. The project has seen limited exploration, with less than 1% of the property drilled, leaving significant room for resource expansion and the discovery of new mineralized zones. The company has identified 11 priority targets for exploration in 2025, focusing on extending the known resource and discovering additional massive sulphide lenses.
Significant intersections have been noted, such as 28.55 meters at 3.57% copper, which remain open to the north. This aligns with untested electromagnetic (EM) anomalies extending up to 350 meters north of the current resource. The potential for new discoveries is bolstered by historical prospecting that uncovered oxidized massive pyrite rubble with copper concentrations reaching up to 1,035 ppm in soils, marking it as a priority target for regional exploration.
Next Steps and Exploration Strategy
Bastion Minerals is re-assaying historical core samples to validate the JORC resource and reprocessing historical EM and magnetic data to refine drill targets. The company plans to submit a Class 3 drill permit application with the aim of commencing fieldwork in April-May 2025. This fieldwork will include detailed mapping, IP and EM geophysics, and soil geochemistry to gather further information before drilling begins.
Drilling is set to commence once additional geophysical and geochemical data has been collected. The company is optimistic about defining a JORC (2012) compliant resource by early Q1 2025, alongside establishing an exploration target for the property.
The announcement of new exploration targets at the ICE Project is likely to have a positive impact on Bastion Minerals' stock. The potential for resource expansion and new discoveries could enhance investor confidence and attract interest in the company's exploration efforts. The identification of high-priority targets and the strategic exploration plan indicate a proactive approach to unlocking the project's full potential.
Investor Reaction:
Analysts may view the announcement as a positive development, given the significant exploration upside and the strategic focus on resource expansion. The potential for new discoveries in an underexplored area could lead to increased investor interest and a favorable market response.
Conclusion:
Investors should keep a close watch on Bastion Minerals' progress at the ICE Project, as the upcoming exploration activities could lead to substantial resource growth. The company's commitment to a comprehensive exploration strategy and the potential for significant discoveries make it an exciting prospect for stock market investors.