Reporting another batch of brief core equivalent intervals, the company continues to shore up confidence in the potential for commercial development of Capote.
Investor information provider Undervalued Equity classifies high grade gold as that in concentrations over five grams of gold per tonne of ore (5g/t). Many Australian projects boasting 4g/t grades are also widely accepted as high grade.
Bastion today reports:
01m @ 7.73g/t gold from 132m depth
09m @ 2.52g/t gold from 42m depth
01m @ 10.83g/t gold from 49m depth
02m @ 5.00g/t gold from 49m depth
Previous results from September include:
04.6m @ 2.59g/t gold from 55m depth
03.6m @ 3.06g/t gold from 55m depth
And the company’s early success in August included:
1.6m @ 9.6g/t at 58.4m depth
1.1m @ 3.9g/t at 80.9m depth
All in all, it’s clear by now that gold is present at Capote. The question is how to get it out, at scale, in a fashion that allows the company (and shareholders) to make profit. That, or, sell it to someone who can.
Worth noting is that Bastion Minerals is also gearing up to kickstart a second project in Chile, located in the same region as Capote, called Cometa.
Cometa is a copper play with IOCG style copper-gold mineralisation (according to Bastion) with a high potential for porphyry discovery.
And, like every other explorer on the ASX right now, Bastion is also putting its feelers out to see if it can’t find some lithium. Shocking.
“We continue to make progress with our initial drill campaign at Capote. The Resurgimiento vein system is providing us with higher grades than previously reported,” Bastion chief Ross Landles said.
“This is consistent with records as a high-grade gold district. Historical information, from the San Juan vein in the project, indicated it produced at a grade of 40 g/t gold for approximately 500,000 oz.”
“These results, together with the significant near surface gold results already received, gives us further confidence in the maiden drilling campaign and has the team waiting eagerly for the outstanding gold and multi-element assays.”
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