Bindi Metals’ exploration in North America proves fruitful with ‘high-grade’ REEs returned from Schryburt Lake

Bindi Metals (ASX:BIM) has returned grades up to 35,896 (3.6%) parts per million (ppm) total rare earth oxide (TREO)  following a recent fieldwork and rock chip sampling program at its Schryburt Lake Project in Canada. 

The North American-focused rare earth elements (REE) company says the maiden helicopter-supported rock chip sampling program has returned ‘high-grade’ REE and niobium (Nb) assays from within the newly discovered Blue Jay prospect. 

Bindi reports these results have led to the discovery of a new ‘high-grade’ surface REE-Nb mineralisation zone over a 110m by 80m area, which is recording more than 20,000ppm (2%) TREO. Results also demonstrate that niobium mineralisation at Blue Jay is ‘very significant’ as it is ‘highly valuable’ at $45,000 per tonne. 

Mineralisation has also been interpreted to be hosted along a concentric 2.8km magnetic low feature within the prospect.  

Key results from Blue Jay include 35,896ppm (3.6%) TREO and 4,706ppm (0.5%) Nb2O5; 22,190ppm (2.2%) TREO, and 4,763ppm (0.5%) Nb2O5; 21,645ppm (2.2%) TREO and 560ppm Nb2O5; and 7,643ppm (0.8%) TREO and 6,594ppm (0.7%) Nb2O5.   

As a result, Blue Jay has been defined as a ‘high priority’ drill target, with Bindi announcing it has moved forward with plans for a maiden drill program. The company states it is currently in discussions with First Nations on drill permits, planning for further surface sampling at the project is also underway.  

Meanwhile, further ‘high-grades’ of valuable REE metals, including neodymium (Nd), praseodymium (Pr), and scandium (Sc) have been uncovered at the Goldfinch prospect. 

The company notes a ‘high-percentage’ of ‘high-value’ neodymium-praseodymium (NdPr) at Goldfinch is averaging 25%, as well as up to 130ppm Sc2O3 located near a zone of historical rock chip results of 18,200ppm (1.82%) Nb2O5.  

With the detailed helicopter-supported magnetics and radiometrics survey now complete, Bindi Metals announces full results, as well as results from a hyperspectral survey completed at the project, are expected to be received shortly. 

Speaking on the discovery, Bindi Metals Executive Director Henry Renou says: “Assays from Bindi’s first pass rock chip sampling program at Schryburt Lake have returned great results. The discovery of high-grade surface REE and niobium mineralisation at the Blue Jay prospect along an extensive magnetic low feature is very encouraging and strongly supports our view that this carbonatite-hosted REE-niobium system is highly prospective for economic deposits. 

“The discovery of niobium mineralisation at Schryburt is very significant for the project given the recent success of WA1’s niobium discovery on the Luni carbonatite and the potential of these systems”

The discovery of niobium mineralisation at Schryburt is very significant for the project given the recent success of WA1’s niobium discovery on the Luni carbonatite and the potential of these systems.”

Bindi Metals is a listed company focused on copper and rare earths exploration with projects strategically located in tier one, highly prospective, world-class mining jurisdictions with proven geological potential. 

The company’s wholly owned Schryburt Lake project is located about 120km north of Pickle Lake in Ontario, Canada, with year round access. The project is considered prospective for carbonatite-hosted REE-Nb mineralisation at surface, and has returned high NdPr ratios up to 34%. 

Bindi Metals had $2.68 million cash at hand as at 31 March 2023, as stated in its latest quarterly report.

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.