Blackstone Minerals Intersects Massive Sulphide Nickel at King Cobra

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) announced further Massive Sulfide Vein (MSV) mineralisation at the company’s King Cobra discovery at the company’s Ta Khoa nickel-PGE project in Vietnam.

Blackstone Minerals reported an intersection of 0.55 metres of MSV mineralisation within a 2.5m wide tremolite-rich dyke within a broader 58m down hole intersection of disseminated nickel sulphide mineralisation at King Cobra.

The latest results continue Blackstone’s drilling success at King Cobra of delivering shallow intersections of high-grade disseminated nickel sulphide (DSS) mineralisation including:

39 metres at 1.1 per cent nickel and 28m at 1.2 per cent nickel from near surface.

The King Cobra discovery remains open down dip and along strike to the north-west and south-east and has been traced with drilling over 200m of strike length.

“Blackstone is pleased to announce drilling at the King Cobra discovery has intersected massive sulfide nickel within the broader disseminated nickel sulphide mineralisation,” Blackstone Minerals managing director Scott Williamson said in the company’s announcement to the Australian Securities Exchange.

“This is the most significant intersection of MSV within the Ban Phuc deposit outside of the known (and previously mined) Ban Phuc MSV.

“The King Cobra discovery is looking increasingly likely to significantly improve the economics of a restart of the Ta Khoa nickel-PGE project.”

Besides advancing drilling of the Ban Phuc DSS deposit and King Cobra discovery zone of the Ta Khoa nickel-PGE project, Blackstone is also well advanced with an initial scoping study evaluating mining and processing options, including potential in-country downstream processing to deliver nickel sulphate into Asia’s rapidly expanding electric vehicle (EV) industry.

The company recently struck a Memorandum of Understanding with Korea’s largest and the world’s second largest, EV battery cathode manufacturer, Ecopro BM Co Limited.

Blackstone is evaluating near mine MSV and other potential DSS targets for drill testing during the 2020 season, as it determines to identify high-grade and further disseminated mineralisation for either an early restart of the Ban Phuc mining operation, or the potential to blend higher grade MSV mineralisation with the larger tonnage DSS mineralisation for processing.