Bindi’s new Blue Jay REE and niobium discovery is a walk up drill target at Schryburt Lake
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Bindi is racing to get maiden drilling underway at its Schryburt Lake rare earths and niobium project in northern Ontario, Canada, after rock chip sampling returned high-grade assays.
The reason for this haste is due to assay results of up to 35,896 parts per million (ppm), or 3.6%, total rare earth oxides (TREO) and 6,594ppm niobium pentoxide from the new discovery at the Blue Jay prospect.
In fact, the helicopter-supported program has defined a 110m by 80m zone at the prospect where samples returned assays of more than 20,000ppm TREO.
This is potentially significant given the high value of niobium, which is traditionally used in superconducting magnets, rockets, turbines, and medical instruments as well as being touted as a potential substitute for cobalt in lithium.
Nor is Blue Jay the only prospective prospect at Schryburt Lake with Bindi Metals (ASX:BIM) noting that valuable magnet REEs neodymium and praseodymium, which are used in the fabrication of permanent magnets found in electric vehicles, make up 25% of the total REE content at the Goldfinch prospect.
Sampling also returned an assay result of 130ppm scandium oxide near a zone of historical rock chips of 18,200ppm niobium pentoxide.
Detailed helicopter-supported magnetics and radiometrics surveys have also been completed with preliminary images received.
“Assays from Bindi’s first pass rock chip sampling program at Schryburt Lake have returned great results,” executive director Henry Renou said.
“The discovery of high-grade surface REE and niobium mineralisation at the Blue Jay prospect along an extensive magnetic low feature is highly encouraging and strongly supports our view that this carbonatite-hosted REE-niobium system is prospective for economic deposits.
“The niobium results at Schryburt is significant for the project given the recent success of WA1’s niobium discovery on the Luni carbonatite and the potential of these systems.”
Bindi’s helicopter-support program collected 45 rock chip samples across the carbonatite intrusive in areas of limited outcrop along with locating and sampling historical areas of trenching.
This work resulted in the definition of five prospects at Schryburt Lake with Blue Jay and Goldfinch high priority targets for drilling. This is in addition to priority the drill target at the Starling prospect with historical high grade REE drill hits.
Blue Jay has significant potential scale as preliminary magnetics suggests this is an extensive mineralised dyke system controlled by a 2.8km concentric east-west magnetic low structure on the northern end of the carbonatite diatreme.
Meanwhile, preliminary magnetics suggest that Goldfinch potentially extends for over 1.5 km and could be an extensively mineralised part of the carbonatite system that is enriched in niobium and high value REE’s.
The company adds that the exploration model for Schryburt Lake is comparing well to the Niobec REE-niobium analogy it has used for targeting.
Bindi has completed an orientation biogeochemical survey to determine the viability of this technique on the project to define REE and niobium anomalies and is now waiting on the results.
This method has been used to great effect across Ontario and Quebec in Canada for a variety of commodities and is utilised due to glacial terrain that inhibits the development of a weathered soil profile.
It also expects to receive the full results of helicopter-supported magnetics and radiometrics survey as well as results from a hyperspectral survey at Schryburt Lake.
Planning for the maiden drill program and further sampling is underway, and discussions with First Nations on drill permits are progressing well.
This article was developed in collaboration with Bindi Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.