Bastion Minerals has progressed its Cometa Copper Project divestment to Hot Chili (ASX:HCH), with due diligence completed and an option agreement initiated for up to a US$3.3 million ($5 million) acquisition.

Bastion received an initial US$100,000 ($152,718) non-refundable payment.

The move enables Bastion to focus on advancing battery metals projects in Canada, Australia, and Sweden.

The transaction leverages Hot Chili's expertise and infrastructure for the practical exploration and development of the Cometa Project.