Bastion Minerals expanded its portfolio by acquiring two promising lithium, rare earth elements, and gold projects in Western Australia.
The Gascoyne Region Project involves acquiring 100% of Critical Minerals Morrissey, which holds the Morrissey Lithium Project.
The project, strategically located in the Gascoyne region, is within the "Volta Corridor" and is undergoing extensive exploration for lithium-bearing pegmatites.
The Mt Ida Project includes the acquisition of tenement EL 16/607 from Syndicate Minerals, forming part of the Split Rock Dam Project, located northwest of Coolgardie.
Both projects have high lithium and gold prospectivity, with the total acquisition cost being $1 million satisfied through the issuance of 71,428,571 fully paid ordinary shares and a 1.5% net smelter royalty.
Bastion is conducting a capital raise of $2 million to fund the acquisitions and related activities.