Bastion Minerals' New Swedish Property Claims

Bastion Minerals Ltd (ASX: $BMO) has submitted applications for additional property claims in Sweden, focusing on the 'REE line' in the Bergslagen district. The claims host historical mineral occurrences with significant copper and TREE + Y values, indicating the potential for high-grade mineralisation. The company's decarbonisation strategy of REE, Lithium, and Copper projects aligns with the exploration of these new claims.

Executive Chairman's Perspective

The new property applications contain historical sample results of up to 1.75% TREE + Y and up to 3.09% Cu, with REE mineralisation associated with zones of historical magnetite iron mining. We are keen to evaluate the potential of these areas, and once granted will have an exploration team on the ground sampling the old mining areas to evaluate the extent of the mineralisation. We look forward to bringing news to the market as our exploration plan progresses in Sweden.

Exploration Plan and Outlook

Bastion Minerals' submission of applications for new Swedish properties along the 'REE line' marks a significant step in its exploration efforts. The historical samples with up to 3.09% copper and 1.75% TREE + Y indicate the presence of high-grade mineralisation. The company plans to conduct reconnaissance rock chip sampling, mapping of historical magnetite iron workings, and assessment of REE mineralisation extent. This will guide more detailed exploration, including magnetic surveys and drilling. The properties also align with the company's decarbonisation strategy, reflecting its commitment to REE, Lithium, and Copper projects. The outlook for 2024 includes comprehensive exploration, lab analysis, and potential drilling, subject to the granting of properties. The company advises that further exploration work is required to confirm the abundance and economic potential of any mineralisation referred to herein given the early stage and historical nature of the results reported.