Bindi Metals Raises $1.2M, Acquires 30 sq km Ravni Gold Project with 64 g/t Assays
Bindi Metals has acquired the Ravni gold project in Serbia, boasting significant high-grade gold mineralisation and historic workings. The company plans an IP geophysics survey and maiden drilling to unlock the project's potential.
- Acquisition of 30 sq km Ravni gold project in Serbia post-quarter
- High-grade gold assays up to 64 g/t at Ceovishte prospect
- Strategic location near world-class Rogozna Cu-Au deposit
- Planned IP geophysics survey and maiden drilling program
- Cash balance boosted to approximately $2.4 million after placement
Strategic Acquisition in Serbia’s Historic Mining Belt
Bindi Metals Limited (ASX, BIM) has made a significant move by acquiring the Ravni gold project in Serbia, a 30 square kilometre exploration tenure granted just after the September quarter. Situated in the renowned Western Tethyan Magmatic Belt, the project lies within a prolific mining district that hosts multiple world-class deposits, including the nearby Tier 1 Rogozna copper-gold deposit. This acquisition positions Bindi Metals in a highly prospective geological setting with established mineralisation potential.
Encouraging High-Grade Gold Mineralisation at Ceovishte
The Ravni project’s Ceovishte prospect has revealed impressive high-grade gold mineralisation through historic surface and adit sampling. Noteworthy assay results include 4 metres at 19.0 grams per tonne gold from adit channel sampling and rock chip samples reaching as high as 64.0 grams per tonne gold. These findings underscore the prospect’s potential as a drill-ready target, with outcropping epithermal veins and historic workings extending over 500 metres of strike.
Upcoming Exploration and Drilling Plans
Bindi Metals plans to undertake an Induced Polarisation (IP) geophysics survey across a priority 2.0 by 0.75 kilometre area at Ceovishte. This survey aims to identify chargeability and resistivity anomalies typical of high sulphidation epithermal systems, which will help define new drill targets. Following this, the company intends to launch its maiden drilling program to test these targets and further delineate the mineralisation. Additionally, reconnaissance work is planned to explore other epithermal and porphyry-style gold-copper targets within the project area.
Progress on Other Projects and Financial Position
Beyond Ravni, Bindi Metals continues to advance its Lisa antimony-gold project in Serbia, with the exploration licence application progressing through the Serbian Ministry of Mining and Energy. In Australia, follow-up analysis of the Biloela copper-gold project’s critical minerals potential is ongoing. Financially, the company closed the quarter with $1.34 million in cash and raised an additional $1.206 million through a placement post-quarter, bringing its cash position to approximately $2.4 million. Exploration expenditure during the quarter was modest at $25,000, reflecting early-stage activities.
Outlook and Market Implications
Bindi Metals’ acquisition of the Ravni project marks a pivotal step in its growth strategy, targeting high-grade gold mineralisation in a proven mining jurisdiction. The planned geophysical survey and maiden drilling program will be critical in validating the project’s potential and attracting further investor interest. While the company remains in the exploration phase without production, its strengthened cash position supports upcoming activities. Investors will be watching closely for drilling results that could unlock significant value.
Bottom Line?
Bindi Metals’ maiden drilling at Ravni could be a defining moment, setting the stage for its next growth phase.
Questions in the middle?
- What will the maiden drilling results reveal about the extent and grade of gold mineralisation at Ravni?
- How soon can the Lisa Project’s exploration licence be granted, and what impact will it have on Bindi’s portfolio?
- Will Bindi Metals pursue further capital raises to accelerate exploration beyond the current cash runway?
