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Blackstone Minerals (ASX:BSX) - Managing Director, Scott Williamson
Managing Director, Scott Williamson
Source: 121 Mining Investment Events
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  • Blackstone Minerals (BSX) is continuing to intersect broad nickel sulphide mineralisation at the King Cobra discovery zone which is part of the Ta Khoa project in Vietnam
  • Significant results include 1.8 per cent nickel and 1.4 per cent nickel
  • Blackstone has also completed resource drilling at the Ban Phuc nickel mine and two rigs have been placed on standby
  • A maiden resource estimate for the project is scheduled to be complete in the third quarter
  • Blackstone is steady on the market today and shares are trading for 15 cents each

Blackstone Minerals (BSX) is continuing to intersect broad nickel sulphide mineralisation at the King Cobra discovery zone.

King Cobra is part of Blackstone’s Ta Khoa Nickel-platinum group element (PGE) project in Vietnam.

Significant results from King Cobra include 16 metres at 1.8 per cent nickel, 20 metres at 1.4 per cent nickel, and 38 metres at 1.1 per cent nickel.

Blackstone also intersected some of its broadest downhole intercepts to date including 265 metres at 0.33 per cent nickel, 72 metres at 0.65 per cent nickel, and 83 metres at 0.5 per cent nickel.

Additionally, Blackstone has completed resource drilling at the Ban Phuc nickel mine and two rigs have been placed on stand-by.

A maiden resource estimate for the project is scheduled to be complete in the third quarter of this year.

“Our drilling at the King Cobra discovery continues to intersect broad disseminated nickel sulphide mineralisation,” Managing Director Scott Williamson commented.

“The King Cobra discovery has delivered consistent, shallow, high-grade disseminated nickel sulphide mineralisation potentially amenable to a highly economic, bulk tonnage open pit mining scenario and the restart of the Ta Khoa Nickel-PGE Project,” he said.

“Results will be used as part of our maiden resource estimate for the project due in Q3, and we continue to drill with the aim of building a resource inventory that will allow us to restart nickel production from the Ban Phuc mine,” he added.

Since entering a binding term sheet for Ta Khoa in May 2019, Blackstone has made significant progress, having drilled more than 12,000 metres of diamond core in 65 holes at Ban Phuc and King Cobra.

Blackstone remains well advanced with an initial scoping study evaluating mining and processing options for Ta Khoa to deliver high-value nickel sulphate into Asia’s rapidly expanding electric vehicle industry.

The company’s recent share purchase agreement with EcoPro has put this one step closer to becoming a reality.

To date, Blackstone has been unaffected by COVID-19 but the company is acting in accordance with guidelines to ensure the health and safety of employees and the community.

Blackstone is steady on the market today and shares are trading for 15 cents each at 1:01 pm AEST.

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