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Bastion Minerals provides Capote exploration update

Published by
Global Mining Review,


Bastion Minerals Ltd has provided an update on its on-going exploration programme within the Capote Mining District as it prepares for its maiden drilling programme. The company is continuing to compile and digitise the extensive database for the area with the immediate focus on the San Juan Gold Vein, and nearby veins that have never been explored with modern exploration methods.

Highlights

  • Systematic exploration activities at Capote expanded to newly acquired San Juan Gold Project and surrounding licences.
  • New high-grade rock-chips returned from newly acquired mining tenements.
  • 130 samples taken across multiple veins returning average assays of 3.08 g/t gold (Au) and maximum up to 33.6 g/t Au.
  • These results support the view that the Capote gold system extends over a strike length of approximately 3.2 km.
  • Planning underway for the first-ever drill programme undertaken in the district, with upwards of 5000 m planned across numerous drill targets.
  • Drilling programme is aimed at expanding gold mineralisation around known historical deposits while testing several new greenfield target areas.
  • Detailed geophysics program to improve targeting of potentially mineralised structures.
  • The company is in a strong financial position with approximately US$5 million cash as of 29 September 2021.

Bastion’s Executive Chairman, Ross Landles, commented: “We are very happy with the strong start and pleased with the progress on the ground at Capote. Following a comprehensive review of the historic mining data, initial sampling on the shallow unmined parts of the San Juan, Resurgimento and Yayito veins has delivered some outstanding rockchip results and more importantly, shown great continuity along the cumulative 3 km strike of the three main vein systems. We are pleased with the progress and preparation of the first-ever exploration drilling program to be undertaken in this historically significant gold district. The rapid progression to diamond drilling is a credit to the exploration team on the ground at Capote. The proposed 5000-m programme will be the largest completed by the company, and the potential for transformational new discoveries across our under explored package is the most exciting part of the upcoming programme. We look forward to continuing this positive momentum.”

Next steps

The final preparation stages of the company’s maiden drilling pro-gramme are currently underway. Drilling is aimed at expanding gold mineralisation around the known historical deposits at Yayito and Resurgimento veins and testing several new greenfield target areas. The company will undertake approximately 5000-m diamond drilling programme, with a focus on testing the shallow surface expression of multiple vein systems where high-grade gold has been returned from recent rock-chip campaigns.

Read the article online at: https://www.globalminingreview.com/exploration-development/01102021/bastion-minerals-provides-capote-exploration-update/

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Gold mining news South American mining news