Exploration Consent Deal: What Risks Lie Ahead for Bastion’s ICE Project?

Exploration Agreement Secures Access

Bastion Minerals has reached a significant milestone by executing an Exploration Consent Agreement (ECA) with the Ross River Dena Council (RRDC) for its ICE Copper-Gold Project, located approximately 220 kilometres north of Whitehorse in the Yukon Territory, Canada. This agreement is a crucial enabler for Bastion to advance exploration activities responsibly and in partnership with the Traditional Owners, reflecting a growing trend of collaborative resource development in northern jurisdictions.

Substantial JORC Resources Underpin Project Value

The ICE Project boasts a JORC-compliant Mineral Resource Estimate of 6.43 million tonnes grading 1.07% copper, including 5.76 million tonnes in the Indicated category at 1.09% copper. These figures underscore the project's considerable scale and quality, positioning it as a potentially valuable asset in Bastion’s portfolio. Notably, the resource estimate is based on 115 drill holes, mostly less than 200 metres deep, suggesting significant upside potential with deeper or broader drilling.

Exploration Upside and New Targets

Despite the sizeable resource, less than 1% of the ICE Project area has been drill tested to date. Bastion has identified 11 priority targets for further exploration, focusing on Volcanic Hosted Massive Sulphide (VHMS) mineralisation, which could expand the known resource base. Earlier this year, a targeted geochemical program collected 85 soil and rock chip samples to refine these targets, with assay results currently pending. These results will be pivotal in shaping the next phase of exploration planned for Spring 2026, when field conditions in the Yukon improve.

Strategic Partnership and Responsible Development

Non-Executive Chairman Gavin Rutherford emphasised the importance of the agreement with RRDC, highlighting that it aligns with Bastion’s commitment to responsible development and long-term value creation. The collaboration with the Ross River Dena Council and the Yukon Government provides a stable framework for advancing the project while respecting local governance and environmental considerations. This approach not only facilitates operational access but also enhances the project's social licence to operate.

Looking Ahead

With the ECA in place and exploration preparations underway, Bastion Minerals is set to enter a critical phase of fieldwork that could unlock further mineralisation and add significant value to the ICE Project. The pending assay results and subsequent drilling campaigns will be closely watched by investors eager to see how this under-explored region might deliver on its promise.