Junior explorer Bastion Minerals (ASX:BMO) is gearing up for ‘extensive’ mapping, sampling, and possible geophysics work to identify drill targets at the McCombe North Lithium Property in Ontario, Canada.
The company reports Canadian geological consulting firm Orix Geoscience, which was recently appointed by Bastion to undertake a field evaluation on its portfolio in Ontario, will evaluate the interpreted northern greenstone unit, considered a ‘highly’ prospective setting for pegmatite formation.
Shares in Bastion Minerals spiked 28.57% to close to $0.027 on 11 May 2023.
The McCombe North Project contains the western strike extension of the mafic greenstone unit that appears to host the McCombe and Morrison lithium-caesium-tantalum (LCT) pegmatites held by fellow ASX-listed explorer Green Technology Metals (ASX:GT1).
Orix will conduct a systematic reconnaissance mapping and geochemical sampling program in the area, concentrating on potential extensions of the pegmatite host sequence, where pegmatites are generally preferentially located.
Commenting on the McCombe North Property, Bastion Minerals Executive Chairman Ross Landles says: “The McCombe Project is located in an area with high lithium prospectivity, as indicated by the presence of pegmatites in properties owned by GT1 immediately south, where significant drilling has been completed and resources have been defined.
“The McCombe Project is located in an area with high lithium prospectivity, as indicated by the presence of pegmatites in properties owned by GT1 immediately south”
Bastion has identified high-priority targets where Orix will undertake mapping and sampling in the optioned properties with a strong focus on the potential extension of pegmatite mineralisation west from the GT1 McCombe deposit and through the northern part of the properties along the 6km greenstone belt identified on government maps. We will keep shareholders updated on our progress.”
Before Bastion enlisted Orix to evaluate targets on its properties in Ontario, the company entered a binding heads of agreement with private company Austek Resources for an option to acquire 3 ‘highly prospective’ lithium property packages in the province.
The McCombe North Property lies adjacent to and immediately north of the Root Bay Project, held by Green Technology Metals.
Bastion says government sources note the local Root Lake pegmatite group consists of 4 spodumene-bearing pegmatite dykes within a 3km by 4km area hosted in metasedimentary and metavolcanic rocks of the Uchi and English River sub-provinces.
Additionally, the company says Green Technology Metals is the major player in the Root Lake Lithium district, actively exploring for mafic volcanic rocks similar to those found at McCombe North.
Bastion Minerals is an Australian early-stage exploration company focused on copper, gold, and green metals. The company holds a ‘highly’ prospective portfolio of projects within the Atacama region of Chile, including the Cometa Copper-Gold, Capote Gold, and Garin Gold-Silver projects.
Additionally, Bastion has also entered into an option agreement to acquire the Pakwan East, Raleigh Lake, and McCombe North lithium properties in Ontario, Canada.
Images: Bastion Minerals Ltd
