THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has picked up the pace of its exploration activities underway at the company’s Ta Khoa nickel-copper-PGE project in Vietnam.
Blackstone has set a new industry standard by adding a second geophysics crew and three additional drill rigs to its fleet, thereby doubling its exploration capacity.
Blackstone already had three drill rigs operating across the Ta Khoa project and now the addition of a fourth company-owned diamond rig will give it the option to test multiple prospects simultaneously, accelerating future resource upgrades, once it reaches completion of a maiden resource, scheduled for this quarter.
By owning and operating its own drill rigs, Blackstone has recognised substantial cost savings, with approximately 60 per cent reduction of per metre drilling costs relative to Australian industry averages.
Owning and operating four diamond drill rigs substantially increases the amount of drilling the company can undertake relative to other companies for the same expenditure.
“Blackstone is pleased to announce that we have doubled our exploration capacity to allow us to accelerate our exploration program to rapidly unlock what’s shaping up to be a world class nickel sulphide district at Ta Khoa,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.
“We have expanded our exploration capacity by adding an additional geophysics crew and a further three drill rigs.
“The additions will ensure we can progress the project as rapidly as possible in a cost-effective manner.
“We are looking forward to a steady stream of drilling results during Q3 and Q4 2020 and will keep our shareholders up to date as results become available.”
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