- Newly listed Bastion Minerals (BMO) has begun exploration activities at its Capote Gold Project in Chile
- The aim of this work is to discover high-grade gold at the project — which has never been drilled until now
- Bastion successfully listed on the ASX on March 12 after a $5 million initial public offering, and the company will use this money to fund the upcoming work
- Additionally, Bastion has scheduled fieldwork at the Cometa Copper and Garin Gold-Silver Projects for Q2 2021
- Shares in Bastion are up 2.33 per cent on the market and are trading at 22 cents
Newly listed Bastion Minerals (BMO) has begun exploration activities at its Capote Gold Project in Chile.
The aim of this work is to discover high-grade gold at the project — which has never been drilled until now.
Initial results are expected to be received in the second week of April.
The Capote Gold Project spans 77 square kilometres and surrounds the historical San Juan Gold Mine.
Mineralisation consists of high-grade gold, which lies within quartz-carbonate-sulphide.
Bastion successfully listed on the ASX on March 12 after a $5 million initial public offering (IPO), and the company will use this money to fund the upcoming work.
To raise the $5 million, the company issued of 25 million fully paid ordinary shares at 20 cents each.
“We are extremely excited to have exploration commence on the ground at our flagship Capote Gold Project in such a rapid manner, following the completion of our IPO and ASX listing,” Executive Director Ross Landles commented.
“In the coming months, we will deploy a systematic exploration program, including detailed geological mapping, surface geochemistry, airborne magnetic and hyperspectral data,” he said.
“We are confident this will provide a new perspective and help unlock the potential of one of Chile’s great high-grade gold mining districts at Capote,” he added.
Additionally, Bastion has scheduled field work at the Cometa Copper and Garin Gold-Silver Projects for Q2 2021.
Shares in Bastion are up 2.33 per cent on the market and are trading at 22 cents at 3:07 pm AEDT.