Bastion Minerals (ASX:BMO) reports that it has received gold assays for an additional 2 diamond drillholes following an ongoing scout diamond drilling (DD) operation at its flagship Capote Gold Project in Chile’s Atacama region.
The results, generated by 2 drillholes from the projects Colo Colo Prospect, have returned a ‘significant’ intersection of 4.68m @ 2.59g/t Au from 55.32m (drillhole CPDH004B) and confirm that the Colo Colo Target boasts potential down dip and along strike.
All drillholes to date have intersected mineralised structures, with all structures containing elevated gold mineralisation.
Commenting on the results, Bastion’s Executive Chairman, Ross Landles, said: “We are very happy with the steady progress of our maiden drilling campaign at the Capote Gold Project, and these new results are extremely encouraging.
“The results indicate that our priority target, the colo colo prospect, is open at depth and along strike and contains potentially mineable grades and widths very close to surface”
The results indicate that our priority target, the Colo Colo Prospect, is open at depth and along strike and contains potentially mineable grades and widths very close to surface. This gives us confidence in our progress towards a significant discovery and our longer-term objective to define a mineral resource at Capote.
There is a large volume of exploration in Chile currently in progress, which is great news for the region, but is causing slightly slower than usual turnaround times at the lab. Our team continues to return assays and we will report these to market as soon as practical.”
The company also notes that the aim of the current scout DD operation is to test six main targets across the Capote Project in order to determine which targets have the potential for a ‘high-grade’ gold discovery.
In addition, results from all three sections drilled at the Colo Colo prospect indicate that the Colo Colo vein system increases in grade at depth and to the north, which is where future drilling will be targeted towards expanding the higher-grade intercept in CPDH004B.
Bastion Minerals is an Australian listed exploration company whose goal is discovering ‘high-grade’ precious and base metal deposits within the mineral-rich Atacama region of Chile.
The company’s Capote Gold Project is located within the historical Capote mining district, which has processed a total of 1.7Moz Au @ 52g/t Au and is where Bastion owns a ‘significant’ total land holding of about 88.55km-square.
With the current DD operation still ongoing, Bastion announces that results will continue to be released as they come to hand.