Bastion Minerals update on Gyttorp Project

Bastion Minerals Limited (ASX: $BMO) has released an update on its Gyttorp Project in Sweden, revealing significant high grade copper potential alongside rare earth elements (REE) findings. The project, located near Gyttorp in the Bergslagen district of Sweden, covers 115km2 and is highly prospective for high-grade REEs and copper. The update follows the release of significant high grade REE results to the ASX on 14 February 2024, and includes re-analyses of over-range samples, providing valuable insights into the project's mineralization potential.

Executive Chairman, Mr Ross Landles, comments on the latest results

Bastion is pleased to provide these updated copper values, for samples which previously exceeded the upper detection limit for copper during the initial rock chip sampling program. These results confirm high copper grades from 2.5 to 8.5%, associated with chalcopyrite in historical magnetite skarn mine workings sampled over a distance of 80 m, and open in both directions. Sampling shows the REE mineralisation, up to 7.27% TREE+Y, is separate from the copper and associated with tremolite/actinolite skarn and or biotite schist, adjacent to magnetite skarn. We plan to carry out some higher resolution magnetic surveys, to provide higher resolution than the government 200 m line spaced airborne data. This will allow us to better define the magnetite skarn and areas of potential mineralisation. We are also evaluating the structural complexity of the area, where folding may control a thickening of mineralisation. Additional rock chip sampling is planned around April, once snow conditions allow, in this area of southern Sweden, where snow cover is relatively short. Magnetic surveys will assist focusing further rock chip sampling, to define areas for potential drilling.

Summary of Gyttorp Project update and outlook

The update on Bastion Minerals' Gyttorp Project in Sweden highlights the discovery of significant high grade copper potential alongside rare earth elements. The project, located in the Bergslagen district, is highly prospective for high-grade REEs and copper, with the latest results confirming high copper grades ranging from 2.5 to 8.5%. The company plans to conduct higher resolution magnetic surveys to better define potential mineralisation areas and evaluate the structural complexity of the region. With almost 200 recorded mineral occurrences and old mines, the project holds substantial potential for further exploration and evaluation. The historical significance of the region in REE discovery and mining, coupled with the planned activities, positions Bastion Minerals for continued progress and potential future developments in the Gyttorp Project.