Bindi Metals (ASX:BIM) has confirmed massive antimony sulphide stibnite at the Mutnica and Lisa projects in Serbia, after conducting recent fieldwork.
The company is submitting 2024 rock samples for assaying and plans to locate the residue for the portable x-ray fluorescence soils at Mutnica to submit to the laboratory for multi-element assay with low detection limits to target antimony, gold, and copper.
Bindi Metals will also compile historical data and geophysical imagery for the Mutnica and Lisa projects, as well as work to expedite the granting of the Lisa Project to enable on-ground fieldwork programs to begin.
This news comes after the company identified “highly encouraging” results, and located the historical Kreva prospect’s antimony occurrence.
Bindi Metals notes the Kreva area is characterised by intermittent outcrops of vuggy (a small cavity in rock or vein) quartz breccia with visible variable 1-5% stibnite coupled with arsenopyrite (an acid-consuming sulphide mineral) in places.
The outcropping zone appears to be 5m wide, but evidence for further antimony sulphide was exposed over a 50m strike zone of intermittent outcrop and open undercover with a dominant northwest to north strike.
A standout outcrop was also observed in what appears to be a core area of massive stibnite, where 5-20% stibnite was observed.
Director Eddie King says the company has hit the ground running and is continuing the work Apollo Minerals (ASX:AON) started on an “interesting copper target”.
“In addition, we have formally engaged with in-country advisors to facilitate granting of the Lisa Antimony-Gold Project which was the focus of the transaction with Apollo and considered our key focus in Serbia,” he says.
At the Lisa Project, historical data has confirmed the presence of historical “high-grade” antimony mines which have reported grades of 5-20% antimony, and where 600,000 tonnes of ore from shallow pits were produced between 1932 and 1951.
Meanwhile, at the Mutnica Project, historical rock chip assay data returned up to 4.5% antimony and 2.7% antimony, but were never followed up from a modern economic perspective.
Bindi Metals is a copper and rare earths-focused explorer with projects located in tier one, highly prospective mining jurisdictions with proven geological potential.
Write to Aaliyah Rogan at Mining.com.au
Images: Bindi Metals
