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Bastion Minerals (ASX:$BMO) acquires Gascoyne & Goldfields lithium & REE projects

Bastion Minerals acquisition announcement


Bastion Minerals Limited (ASX:$BMO) has announced the acquisition of two highly prospective lithium, REE, and gold projects in Western Australia. The company has purchased 100% of the issued capital in Critical Minerals Morrissey Pty Ltd, which owns the Morrissey Lithium Project in the Gascoyne region, and the acquisition of tenement EL 16/607 (SM Tenement) from Syndicate Minerals Pty Ltd, forming the Split Rock Dam project in Mt Ida, WA Goldfields.

Bastion Minerals Executive Chairman, Mr Ross Landles, on the acquisitions


The Bastion Board is delighted to have the opportunity to add to its portfolio of critical minerals projects with the acquisition of two highly prospective, lithium and gold projects in the Gascoyne and Mt Ida areas of Western Australia. Both projects have had no systemic exploration for lithium conducted, however they are in highly prospective areas. To have exposure to such important commodities in such a Tier 1 mining jurisdiction only adds to the Company's critical minerals credentials, as we continue to concentrate on our lithium and REE assets, with projects also based in Canada and Sweden respectively.

Bastion Minerals acquisition summary and outlook


Bastion Minerals has expanded its portfolio by acquiring the Morrissey Lithium Project in the Gascoyne region and the Split Rock Dam project in Mt Ida, WA Goldfields. The projects are strategically located in highly prospective areas for lithium, REE, and gold. The company aims to conduct further target generation, fieldwork, and analysis to explore the full potential of these projects. With exposure to important commodities in a Tier 1 mining jurisdiction, Bastion Minerals continues to focus on its critical minerals strategy, targeting lithium, REE, copper, graphite, and nickel. The successful capital raise of AUD$2 million will fund the acquisition costs, due diligence, exploration, and working capital, enabling the company to advance its corporate strategy and exploration activities.

Sourcehttps://announcements.asx.com.au/asxpdf/20231220/pdf/05ys19qnwhcf11.pdf

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