Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to report that it has hit Massive Sulfide Vein (MSV) mineralisation in multiple drill holes from its maiden exploration program at the King Snake prospect (refer Tables 3 and 4 in Appendix 1 of this report).

Immediate success at King Snake reaffirms the prospectivity of the region and the Company’s strategy in defining high-grade Nickel targets using Electro-magnetic (EM) geophysical techniques. Multiple EM crews are engaged at several high priority targets across the Company’s developing Ta Khoa Nickel Project in Vietnam.

Blackstone has commenced the maiden resource estimate for the Ban Chang prospect and continues drilling at Ban Phuc, Ban Chang, Ta Cuong, Ban Khoa and King Snake (refer Figure 1).

Highlights from the initial exploration program at King Snake include:

  • New EM targets generated in November 2020 (refer ASX announcement 24 November 2020) were followed up with diamond drilling, with six of the first seven holes intersecting massive sulfides along with associated disseminated sulfides (DSS) (refer Table 4);
  • New intersections together with historic drill results have defined a strike length of over 800m at King Snake which includes MSV, semi-massive sulfide vein (SMSV) and DSS mineralisation, with the mineralisation open in multiple directions;
  • Samples from the initial King Snake drill holes are with the laboratory. Due to prolonged delays in assays Blackstone will continue to keep the market informed with visual estimates as required; and
  • Following success at Ban Chang, King Snake is poised to add critical mass to the Company’s high grade MSV strategy which will see the restart of the existing 450ktpa Ban Phuc Concentrator.

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