Bastion Minerals (ASX:BMO) has commenced a ground magnetic survey at its Gyttorp REE property in northern Sweden, aiming to identify high-priority drilling targets for rare earth elements and copper.
The Gyttorp property has shown high-grade REE mineralisation, with values up to 7.27% TREE+Y, and copper grades between 2.5% and 8.5%.
Additionally, the magnetic survey seeks to map the extent of the magnetite skarn over a 3km mineralised trend, guiding future drilling activities.
The company plans to initiate its maiden drilling program in Sweden soon after survey completion and permitting.
Bastion Minerals' subsidiary, Bastion Minerals Fuerte, has also secured eight new properties along the REE line in southern Sweden.
Initial reconnaissance rock chip sampling and pXRF analysis on these properties have shown promising results, including a notable 18.56% TREE+Y at the newly granted Striberg property.
"It's great to get on the ground on our new Swedish properties. The Gyttorp program has progressed extremely well and the magnetic survey, now near completion, will improve our understanding of the magnetite distribution, and allow the definition of drill targets for the project’s maiden drill program," stated Ross Landles, Executive Chairman of Bastion Minerals.
Historical drilling in the Striberg area uncovered high-grade copper mineralisation, and Bastion is currently awaiting access to this core for further sampling and analysis.
Laboratory assay results for the preliminary samples from Striberg are anticipated within the next four weeks.
Bastion Minerals is an early-stage exploration company focused on lithium, copper and green metals. It owns and earns in agreement to acquire three lithium properties located in Ontario, Canada, a lithium province.
At the time of reporting, Bastion Minerals' share price was $0.0055.