Bindi working towards Schryburt drilling

Bindi Metals (ASX:BIM) is continuing with technical studies to pave the way for a drilling program at its Schryburt Lake Rare Earth Element-Niobium Project in northern Ontario, Canada. 

The targeting and prospect evaluation work is being carried out in conjunction with discussions with first nations communities to acquire a grant for a drilling permit. 

To date, the company has completed a sizable amount of exploration on the project since the acquisition was completed on 22 August 2023, including a helicopter aeromagnetics and radiometrics survey, two summer field mapping and rock chip sampling programs, and an independent exploration assessment. 

Results from the exploration assessment have defined up to 13 priority targets at the Bluejay, Starling, Goldfinch, and Blackbird prospects. 

Work continues on petrographic studies of ore minerals and prospect generation at the project. 

Meanwhile, Bindi is preparing for further rock chip sampling at the Old Kroombit, Cave Mountain, Karita, and Tea Tree prospects, part of its Biloela Copper Project in Queensland, Australia, after posting results from various exploration activities today (29 April 2024).

The rock chip sampling will be undertaken in line with soil traverses at Karita, as well as further geological assessment of the prospects and drill targeting.

The results, generated from reconnaissance rock chip and soil sampling and Advanced Spaceborne Thermal Emission and Reflection Radiometer mineral mapping, demonstrate breccia-hosted mineralisation is present at Cave Mountain along a one kilometre copper-gold anomaly.

Results from Cave Mountain include gold grades up to 11.4 grams per tonne (g/t) and copper grades up to 1.6%. Assays also show silver grades up to 198g/t and 135g/t from the Old Kroombit and Karita prospects, respectively.

Chairman Eddie King says the results build confidence in the potential of a significant mineral system to the north of the project which shares similarities to the Mount Cannindah breccia system.

Bindi Metals closed the quarter with $1.02 million in cash at hand. 

Bindi Metals is a copper and rare earth explorer with projects that are strategically located in tier one mining jurisdictions with proven geological potential. 

The company is focused on exploring and discovering critical minerals essential to the global energy transition. 

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Images: Bindi Metals
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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.