Blackstone Minerals Ltd (ASX:BSX) (OTCMKTS:BLSTF) (FRA:B9S) has received several batches of assay results, including from maiden drill holes, at King Snake prospect in Vietnam that confirm high-grade massive sulphide nickel-copper-platinum group elements (PGE) mineralisation.
King Snake, a massive sulphide vein (MSV) prospect, has strong and growing potential to add to the company’s mining inventory and support restarting the existing 450,000 tonnes per annum concentrator at Ta Khoa Nickel-PGE Project in Vietnam’s north.
This MSV prospect is around 1.5 kilometres east of the processing facility at Ta Khoa and is one of a number of regional targets.
The first two drill holes at King Snake returned:
- 0.6 metres at 2.79% nickel, 3.81% copper, 0.10% cobalt and 4.85 g/t PGE from 193.05 metres; and
- 5.88 metres at 1.22% nickel, 0.49% copper, 0.04% cobalt and 4.67 g/t PGE from 131.74 metres, including 1.81 metres at 0.77%, 0.44%, 0.03% and 12.53 g/t from 131.74 metres and 1.18 metres at 3.72%, 0.84%, 0.12% and 2.41 g/t from 135.47 metres.
“Some of highest tenor” results to date
Managing director Scott Williamson said: “The first results from King Snake represent some of highest tenor massive sulphide intersections that Blackstone has achieved to date.
“This new discovery remains open and we are dedicating resources to ensure that we test the full extent of mineralisation at King Snake and build a mining inventory to be included as part of ongoing studies.”
Additional assay results for the Ban Chang MSV prospect have also been received.
Ban Chang is around 2.5 kilometres southeast of the processing facility and the Ban Phuc deposit adjacent to the Chim Van-Co Muong fault system.
High-grade Ban Chang results
The results will underpin Blackstone’s strategy to delineate a maiden resource in the first half of 2021 to supplement ongoing studies.
Substantial intersections include:
- 1.92 metres at 1.03% nickel, 0.60% copper, 0.06% cobalt and 0.44 g/t PGE from 66.65 metres, including 0.91 metres at 1.99%, 0.92%, 0.12% and 0.84 g/t from 66.65 metres;
- 7.10 metres at 0.66% nickel, 0.45% copper, 0.06% cobalt and 0.18 g/t PGE from 56 metres, including 0.85 metres at 1.91%, 0.60%, 0.13% and 0.29 g/t from 58.45 metres; and
- 5.40 metres at 0.60% nickel, 0.47% copper, 0.05% cobalt and 0.20 g/t PGE from 89.20 metres, including 22.2 metres at 0.92%, 0.53%, 0.08% and 0.24 g/t from 91.38 metres.
With resource estimation underway at Ban Chang, King Snake has become the company’s highest priority MSV exploration target.
Multiple drill rigs are currently on-site and will continue to test the extent of the mineralisation.
Drilling at Ban Phuc is in its final stages and it is expected that the market will be provided with an updated mineral resource estimate late in the first halt of 2021.
Story by ProactiveInvestors
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