Blackstone Minerals Hits Encouraging Cobalt Numbers with First Hole at Little Gem

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) announced results from the first hole drilled at the company’s Little Gem cobalt-gold project in British Columbia, Canada.

Blackstone Minerals explained the hole had kicked off its first drilling program to be carried out at the project and had intersected massive, semi-massive and disseminated mineralisation, producing results including:

4.3 metres at 1 per cent cobalt and 15 grams per tonne gold, including 1.1m at 3 per cent cobalt and 44g/t gold.

Blackstone claimed the initial results from the maiden drilling program are consistent with historic drilling and adit channel sampling, which returned average grades of 3 per cent cobalt and 20g/t gold.

The company indicated that the first hole had only tested the upper portion of the mineralised target where multiple zones of massive sulphide (cobalt-gold) mineralisation has been identified within a broader alteration halo.

The drilling is also consistent with historic underground drilling from adits including:

1.8m at 2.4 per cent cobalt and 112g/t gold;

3.3m at 1.4 per cent cobalt and 80g/t gold; and

3.3m at 1.4 per cent cobalt and 12.3g/t gold.

Results from historic adit channel sampling at Little Gem include:

1.8m at 4.4 per cent cobalt and 73g/t gold;

2m at 3.1 per cent cobalt and 76g/t gold; and

1.5m at 5.4 per cent cobalt and 26g/t gold.

“An outstanding result from our first drill hole at Little Gem,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“We look forward to recommencing the maiden drill program in Q2 2018.

“With further regional exploration results pending we continue to expand our understanding of the full potential of the project.

“These initial results confirm Little Gem as one of the highest-grade cobalt-gold projects in the world located within a region completely unexplored for cobalt.”