The Cometa project consists of 23 exploration licences covering an area of approximately 56 km2. The project is located approximately 40 km to the southeast of Vallenar and immediately west of the Orito Mining District. Access to the Cometa Project area is through the main highway south of Vallenar to the Agua Amarga junction, with a further drive to the east of 40 km towards Orito.
The project area hosts several prominent alteration and associated mineralisation zones. Previous surface sampling and geological mapping results have outlined 3 prospects, known as Area I, Area II and Area III. These prospects offer potential for IOCG style mineralisation.
Exploration work at Cometa has been limited to basic rock-chip sampling and geological mapping. Bastion’s exploration plan is to bring modern exploration techniques, including advanced geophysical and geochemical techniques to unlock the economic potential of the project. At Cometa an airborne magnetic and radiometric survey will be conducted to identify the key mineralised structures and characterise the subsurface potential of these. This work will be followed by systematic channel sampling of key IOCG targets to identify those with the potential to hold economic mineralisation. Electrical geophysical surveys (Induced Polarization) will be conducted to map the sub-surface extensions of these targets. Drilling of these is planned to test numerous targets so that ranking of these targets can be conducted and funds focused on the most likely areas for economic mineralisation. These more prospective targets will be drilled to resource definition and studies conducted to characterise potential extraction. The initial target at Cometa is a high-grade iron oxide copper gold (IOCG) deposit.