Bindi Metals’ Untested Kreva Prospect Raises Exploration Stakes in Serbia
Bindi Metals reports a significant 3.3 km by 0.6 km antimony soil anomaly at its Kreva prospect in Serbia, alongside steady progress on the Lisa Project application and a solid cash position of $1.866 million.
- 3.3 km x 0.6 km antimony soil anomaly defined at Kreva prospect
- High-grade rock chip samples up to 4.5% antimony recorded
- Donja Mutnica licence renewal and Lisa Project application advancing
- Recent capital raising secured $1.435 million, cash balance at $1.866 million
- Exploration expenditure of $129k with no mining production activities
Exploration Breakthrough at Kreva
Bindi Metals Limited (ASX:BIM) has delivered a compelling update for the December 2024 quarter, spotlighting a large-scale antimony soil anomaly at its Kreva prospect within the Donja Mutnica project in Serbia. The anomaly spans an impressive 3.3 kilometres by 0.6 kilometres, with rock chip samples confirming high-grade antimony mineralisation reaching up to 4.5% Sb historically and 2.0% Sb in recent sampling.
This discovery is particularly notable as the Kreva prospect remains untested by drilling, presenting a significant opportunity for Bindi Metals to delineate a potentially valuable carbonate-replacement style antimony deposit. The mineralisation is hosted in brecciated limestone with stibnite sulphide replacing the host rock, accompanied by jasperoid and silica alteration, typical of such deposits.
Strategic Progress on Licences and Projects
Alongside the Kreva findings, Bindi Metals has submitted a renewal application for the Donja Mutnica exploration licence and is advancing its Lisa Antimony Gold Project application through the Serbian Ministry of Mining and Energy. The Lisa Project holds historical significance, with records indicating 60,000 tonnes of high-grade antimony ore mined at grades between 5% and 20% Sb during the early to mid-20th century. This legacy underpins the company's plans to prioritise field programs targeting these high-grade zones once the application is granted.
Australian Assets and Financial Health
In Australia, Bindi Metals reviewed its Biloela Copper-Gold Project, highlighting the Tea Tree prospect’s copper potential with surface sampling results up to 1.5% Cu and 1.3 g/t Au. These results, coupled with nearby high-grade gold and copper assays from the Cave Mountain prospect, reinforce the project's exploration upside.
Financially, the company maintains a robust cash balance of $1.866 million as of 31 December 2024, bolstered by a $1.435 million capital raising completed in December. Exploration expenditure for the quarter was $129,000, reflecting a disciplined approach to advancing its portfolio without mining production activities.
Looking Ahead
Bindi Metals’ December quarter report underscores a pivotal phase in its exploration journey, with the Kreva prospect’s large-scale anomaly and high-grade mineralisation offering a tantalising glimpse of potential resource growth. The pending drilling programs and ongoing licence progress in Serbia, alongside promising Australian copper-gold assets, position the company well for value creation in the critical minerals sector.
Bottom Line?
With drilling yet to commence at Kreva, Bindi Metals stands at the cusp of potentially defining a significant antimony resource that could reshape its growth trajectory.
Questions in the middle?
- When will Bindi Metals initiate drilling at the Kreva prospect to test the high-grade anomaly?
- What are the timelines and likelihood for approval of the Lisa Project mining application?
- How will exploration results from the Biloela Copper-Gold Project influence Bindi Metals’ strategic focus?