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Blackstone Minerals Set to Drill at Chim Van

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has been granted approvals to commence drilling at the prospective Chim Van target within the company’s 90 per cent-owned Ta Khoa nickel project in Vietnam.

The approvals follow completion of the company’s initial phase of collaboration with the General Department of Geology & Minerals of Vietnam (GDGMV).

The collaboration on the Chim Van exploration target has to date produced:

• Geophysical modelling suggesting a concealed ultramafic target similar to the Ban Phuc disseminated sulphide (DSS) deposit;

• demonstration that the Chim Van features a magnetic anomaly an order of magnitude larger than the Ban Phuc ultramafic intrusion; and

• A drill rig is currently mobilising to the site to commence the first priority drill hole.

“Blackstone is very pleased with the ongoing collaboration with the GDGMV at the Chim Van target,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcemen.

“Drilling will test the conceptual geological and geophysical target at Chim Van for nickel-copper-PGE sulphides, and if successful Blackstone will proceed to take steps to secure an exploration license.

“Exploration continues to be a major focus for the company as we look to organically increase our mining inventory available to feed the Ta Khoa Refinery.

“We are excited for the potential that Chim Van has to feed into our longer-term growth profile.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

 

Blackstone Minerals Takes Slice of Corazon Mining Pie

THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) has made a strategic investment in Corazon Mining (ASX: CZN), by way of an initial investment of approx. $2 million that will earn Blackstone 14.32 per cent interest in the common equity of Corazon.

Blackstone’s attraction to Corazon it that company’s interests in The Lynn Lake project a suite of nickel-copper-cobalt assets in Manitoba, Canada.

The Lynn Lake project has historic mining and a current mineral resource of 168,000 tonnes nickel, 81700 tonnes copper and 7900 tonnes cobalt.

Blackstone and Corazon have also entered a Memorandum of Understanding that will see collaboration on the production of upstream and downstream nickel and cobalt concentrates and chemical products, potential offtake and/or Joint Ventures to meet demand from the growing electric vehicle battery industry.

Part of the funds received from Blackstone under the transaction will be used by Corazon to test electro-magnetic (EM) targets identified at the Fraser Lake Complex, which is underexplored and has existing nickel-copper sulphide drilling intersections.

“Blackstone’s recent Ta Khoa Nickel Project Pre-feasibility study demonstrated the economic value and importance of securing upstream supply for its vertically integrated business,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“The Lynn Lake project boasts a meaningful nickel-copper-cobalt resource that the company believes has potential for a significant valuation uplift based on integration with the Ta Khoa Refinery.

“We are also very excited by the exploration potential at the Fraser Lake Complex and look forward to collaborating with the Corazon management team to progress mine planning and development activities.”

Corazon is also offering eligible shareholders the opportunity to acquire new shares at three cents per share through a non-renounceable pro-rata rights issue to raise approximately $10.7 million.

Major shareholder Delphi Unternehmensberatung Aktiengesellschaf has indicated it intends to support the offer and to take up its entitlements.

“The Corazon share registry has evolved significantly over recent months, with nickel focused groups like Delphi and Blackstone seeking to cornerstone the company,” Corazon Mining chairman Terry Streeter told the market.

“This provides the foundations of support required to accelerate exploration and project studies on the potential re-development of the Lynn Lake nickel sulphide project.

“We are also pleased to offer Corazon shareholders the opportunity to support the advancement of our nickel assets via the Entitlement Offer, at a time of strong nickel prices and increased demand for product from the emerging rechargeable battery sector.”

 

TO READ BOTH COMPANY ANNOUNCEMENTS: CLICK HERE OR CLICK HERE

 

Blackstone Minerals Recommences Underground Mining at Ta Khoa

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has recommenced mining activities at the company’s 90 per cent-owned Ta Khoa nickel project in northern Vietnam.

Blackstone Minerals is using a combination of Australian and Vietnamese mining professionals and operators, to:

Complete approx. 1,000 metres of development through the Ban Phuc disseminated orebody generating nickel ore representative of the life of mine plant feed.

Recommission the Ban Phuc nickel concentrator to produce two batches of nickel concentrate for use in the Ta Khao Refinery piloting programs.

Deliver the first batch of concentrate to Perth for treatment by ALS Laboratories in the first phase piloting program.

Process and store the second batch for use in the second phase pilot plant which will be built in Son La in 2022.

Ore produced from the mining program will be processed through the existing 450,000 tonnes per annum Ban Phuc concentrator.

Blackstone has finalised studies to temporarily de-rate the existing plants capacity to suit the requirements of the pilot programs.

Blackstone has refurbished the Ban Phuc concentrator over the last six months.

The crushing circuit was recommissioned in November 2021, with ore commissioning planned for the mill and flotation circuit in January 2022.

“The recommencement of mining activity is an important milestone for the company, and the speed at which approvals were secured is a testament to the expertise and relationships our team has on the ground in Vietnam,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“The mining program will provide significant quantities of disseminated ore which will be processed at the existing Ban Phuc nickel concentrator and subsequent pilot plants.

“The opportunity to treat this quantity of ore de-risks both the upstream and downstream business unit development strategies.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Blackstone Minerals Hits Sulphides with First Jewel Prospect Hole

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) announced recommencement of drilling activities at the company’s wholly owned exploration assets in British Columbia, namely the Gold Bridge project, formerly the BC-cobalt project.

Blackstone Minerals declared its first drill-hole targeting a large IP anomaly at the Jewel prospect has intersected sulphide mineralisation.

Blackstone has always believed its geological model for the Jewel prospect suggest that it is located within a similar setting to the underground mines of the world class Bou-Azzer primary cobalt district in Morocco.

The current exploration program follows initial exploration success the company achieved at the Little Gem prospect and involved a detailed 3D Pole-Dipole Induced Polarisation (3D IP) and Resistivity Survey.

An analysis of IP survey data and regional soil, rock chip and stream sediment samples has resulted in the identification of multiple large-scale sulphide bearing targets, with the Jewel prospect being high priority.

“Although Ta Khoa remains the company’s primary focus, in the background Blackstone has continued to work-up its exploration targets in British Columbia,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“The first drill hole testing a 700 metres long 24mv/v IP chargeability anomaly at Jewel prospect successfully encountered copper, nickel and cobalt sulfarsenides is a great proof-of-concept result for the project.

“Initial success confirms not only the prospectivity of the Jewel IP target, but also the potential of Blackstone’s 50 kilometres BC cobalt target zone to host nickel, cobalt and copper sulfarsenide deposits of the same style as the World Class Bou-Azzer cobalt district in Morocco.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

 

Blackstone Minerals Inks Canadian Nickel Sulphide MoU

THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) announced making a strategic investment in Flying Nickel Mining Corp, a subsidiary of Vancouver-based Silver Elephant Mining Corp. (TSX: ELEF, OTCQX SILEF) in Canada.

Blackstone Minerals explained that Flying Nickel intends to list on the TSX Ventures Exchange (TSX-V) in early 2022 with its core asset being the Minago nickel sulphide project located southwest of Thompson in Manitoba, Canada.

Minago has a NI 43-101 compliant Measured and Indicated Resource of 44.23 million tonnes at 0.74 per cent nickel for 721.6 million pounds nickel, and Inferred resource of 19.55 million tonnes at 0.74 per cent nickel for 318.9 million pounds nickel.

The company described Minago as an advanced stage development asset with district scale exploration potential and excellent access to infrastructure including renewable hydro power.

Blackstone’s initial investment of C$2.98 million will earn a 6.85 per cent interest in the common equity of Flying Nickel.

Blackstone and Flying Nickel have also entered a Memorandum of Understanding, under which the companies will collaborate on the production of upstream and downstream nickel and cobalt concentrates and chemical products, potential offtake and / or joint ventures to meet demand from the growing electric vehicle battery industry.

“The known mineral endowment of the Minago asset in combination with the potential of the Ta Khoa district represents enviable scale, being highly sought after by OEMs, battery and cathode manufacturers,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Large, disseminated nickel sulphide deposits of the size and grade of the Minago asset are difficult to find.

“The ongoing structural evolution of nickel supply chains and increasing demand for downstream nickel chemical products for the lithium-ion battery industry, is driving a unanimous view by analysts and the broader investment community that higher nickel prices are here to stay for longer.

“This means that large undeveloped opportunities such as Minago are primed to overcome previous barriers, including access to capital.

“The Flying Nickel Transaction provides Blackstone with opportunity to collaborate on the development of Minago, and confidence to inject future equity into the asset as it is progressively de-risked.

The Ta Khoa Refinery in Vietnam is a logical home for Minago concentrate.

“Manitoba, like Northern Vietnam is blessed with access to renewable hydro power.

“Shipping a high-grade concentrate minimises carbon footprint and is aligned with Blackstone’s commitment to best ESG practices and ambition to become a supplier of choice to the electric vehicle battery industry.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Blackstone Minerals Encounters More Ban Chang Nickel

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) attracted a crowd at its booth at the New World Metals Conference in Perth following the release of an update on infill drilling from the Ban Chang target at the company’s Ta Khoa nickel-copper-PGE project in Northern Vietnam.

Ban Chang is the most advanced massive sulphide vein (MSV) target at the Ta Khoa project.

The drilling results included a highlight of 5.35 metres of massive sulphide nickel intersected in drill hole BC21-66.

Other intercepts include:

BC21-18
3.8 metres at 1.13 per cent nickel, 0.59 per cent copper, 0.06 per cent cobalt and 0.52 grams per tonne PGE from 92.5m, including 1.6m at 2.49 per cent nickel, 0.65 per cent copper, 0.14 per cent cobalt and 1.01g/t PGE from 93m;

BC21-23
1.83m at 1.57 per cent nickel, 0.32 per cent copper, 0.09 per cent cobalt and 0.96g/t PGE from 82.39m, including 1.27m at 2.01 per cent nickel, 0.42 per cent copper, 0.12 per cent cobalt and 1.13g/t PGE from 82.39m;

BC21-24
1.52m at 1.95 per cent nickel, 0.42 per cent copper, 0.1 per cent cobalt and 0.78g/t PGE from 51.02m; and

BC21-34
13.85m at 0.51 per cent nickel, 0.33 per cent copper, 0.03 per cent cobalt and 0.3g/t PGE from 56m, including. 4.13m at 1.16 per cent nickel, 0.72 per cent copper, 0.07 per cent cobalt and 0.67g/t PGE from 65.72.

“We look forward to presenting a maiden resource at Ban Chang and incorporating the successful outcomes of infill drilling into a mine plan as part of our Upstream Business Unit PFS,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Drilling at Ban Chang is tightly spaced and has consistently intersected massive sulphide mineralisation, providing a high level of confidence as we progress through the next phases of mine development.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Blackstone Minerals Maintains Nickel Strike Form at Ta Khao Project

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) has drilled further value at the company’s Ta Khoa nickel-copper-PGE project in Northern Vietnam.

Blackstone Minerals reported assay results from a maiden drilling program carried out at the Ban Khoa Disseminated Sulphide (DSS) prospect at the Ta Khoa project.

Blackstone considers Ban Khoa to be a bulk tonnage open pit opportunity with potential to provide mine life extension and complement mining at the nearby large Ban Phuc open pit deposit.

The Ban Khoa DSS prospect is being targeted for inclusion in the company’s upcoming Upstream Business Unit (UBU) Pre-Feasibility Study (PFS).

Highlights from the maiden drill program include:

BK21-11
147metres at 0.31 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.14 grams per tonne PGE from 62m, including 34.65m at 0.55 per cent nickel, 0.08 per cent copper, 0.01 per cent cobalt and 0.37g/t PGE from 103.7m, including 10.6m at 1.06 per cent nickel, 0.11 per cent copper, 0.02 per cent cobalt and 0.88g/t PGE from 123.3m;

BK21-10
67.7m at 0.33 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.19g/t PGE from 105.3m and 32.1m at 0.48 per cent nickel, 0.08 per cent copper, 0.01 per cent cobalt and 0.33g/t PGE from 193.1m; and

BK21-08
60.2m at 0.37 per cent nickel, 0.07 per cent copper, 0.01 per cent cobalt and 0.09g/t PGE from 208.6m, including 10.8m at 1.03 per cent nickel, 0.13 per cent copper, 0.02 per cent cobalt and 0.39g/t PGE from 210.2m.

“We are pleased to present the results of Blackstone’s first drill program at the Ban Khoa prospect,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Ban Khoa is a bulk tonnage disseminated opportunity with excellent potential to completement mining and processing of material from the large Ban Phuc open pit orebody.

“We look forward to presenting a maiden resource for Ban Khoa as part of Blackstone’s UBU PFS.

“We are confident that the current reported drilling results are indicative of the significant geological upside that Blackstone will continue to unlock at our flagship Ta Khoa nickel-copper-PGE project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Blackstone Minerals Swimming Upstream at Ban Phuc

COMMODITY CAPERS: Blackstone Minerals (ASX: BSX) recently reported some of the best broad DSS drilling intersections encountered to date at the Ban Phuc deposit within the company’s Ta Khoa nickel–copper-PGE project in Northern Vietnam.

Blackstone Minerals reported the drilling had hit a 375 metres nickel sulphide intersection to further demonstrate the large bulk tonnage potential of the Ban Phuc disseminated (DSS) deposit.

Drilling from Ban Phuc included:

BP20-55
374.7 metres at 0.3 per cent nickel, 0.01 per cent copper, 0.01 per cent cobalt and 0.07g/t PGE from 2m, including 49m at 0.45 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.17g/t PGE from 2m;

The Ban Phuc DSS deposit is anticipated to underpin the Upstream Business Unit (UBU) PFS due later this calendar year.

Completion of the final infill drilling program is aimed at increasing the confidence of the existing JORC resource of:
Indicated Mineral Resource of 44.3 million tonnes at 0.52 per cent nickel for 229,000 tonnes nickel; and
Inferred Mineral Resource of 14.3 million tonnes at 0.35 per cent nickel for 50,000 tonnes nickel.

“The high tenor of results from the final infill drilling program increases the confidence of the resource at Ban Phuc, and the mine plan that will underpin Blackstone’s UBU PFS,” Blackstone Minerals managing director Scott Williamson said.

“In the relatively short amount of time since acquiring the Ta Khoa nickel-copper-PGE project, Blackstone has been able to define a large, disseminated sulphide deposit which considerably adds to the security of supply for the company’s vertically integrated downstream refinery.”

Blackstone followed this up by announcing the appointment of leading independent advisors to arrange debt financing for the development of the vertically integrated Ta Khoa nickel-copper-PGE project and Downstream Refinery project (Ta Khoa Project).

The Korea Development Bank (KDB) and BurnVoir Corporate Finance (BurnVoir) will act jointly and in collaboration with Blackstone to secure an attractive, flexible funding package for the development of the Ta Khoa project.

“KDB and BurnVoir bring their respective strengths across the lithium-ion battery value chain, including strong relationships with potential customers of the Ta Khoa Downstream Refinery,” Williamson said.

“Both KDB and BurnVoir have extensive experience in arranging development funding for quality projects, and their involvement in the Ta Khoa project is an endorsement of Blackstone’s strategy and ability to execute.”

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

 

Blackstone Minerals Encounters 375m Nickel Hit at Ban Phuc

THE DRILL SERGEANT: Blackstone Minerals (ASX: BSX) reported results from the final infill drill program at the Ban Phuc DSS deposit at the company’s Ta Khoa nickel–copper-PGE project in Northern Vietnam.

Blackstone Minerals declared the drilling had achieved some of the best broad DSS intersections to date at Ban Phuc, including a 375 metres nickel sulphide intersection to further demonstrate the large bulk tonnage potential of the Ban Phuc disseminated (DSS) deposit.

Latest results from Ban Phuc included:

BP20-55
374.7 metres at 0.3 per cent nickel, 0.01 per cent copper, 0.01 per cent cobalt and 0.07g/t PGE from 2m, including 49m at 0.45 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.17g/t PGE from 2m;

BP20-57
211.38m at 0.43 per cent nickel, 0.03 per cent copper, 0.01 per cent cobalt and 0.13g/t PGE from 111.62m, including 52.24m at 0.74 per cent nickel, 0.11 per cent copper, 0.01 per cent cobalt and 0.31g/t PGE1 from 241m;

BP21-17
156.25m at 0.5 per cent nickel, 0.07 per cent copper, 0.01 per cent cobalt and 0.15g/t PGE from 79.75m, including 31.05m at 0.75 per cent nickel, 0.14 per cent copper, 0.01 per cent cobalt and 0.26g/t PGE from 83.75m;

BP21-31
169m at 0.43 per cent nickel, 0.04 per cent copper, 0.01 per cent cobalt and 0.15g/t PGE from 62m, including 10.3m at 1.13 per cent nickel, 0.18 per cent copper, 0.02 per cent cobalt and 0.48g/t PGE from 98m; and

BP21-35
52m at 0.79 per cent nickel, 0.1 per cent copper, 0.01 per cent cobalt and 0.26g/t PGE from 22m, including 30m at 1.1 per cent nickel, 0.14 per cent copper, 0.02 per cent cobalt and 0.41g/t PGE from 40m;

The Ban Phuc DSS deposit is anticipated to underpin the Upstream Business Unit (UBU) PFS due later this calendar year.

Completion of the final infill drilling program is aimed at increasing the confidence of the existing JORC resource of:

Indicated Mineral Resource of 44.3 million tonnes at 0.52 per cent nickel for 229,000 tonnes nickel; and
Inferred Mineral Resource of 14.3 million tonnes at 0.35 per cent nickel for 50,000 tonnes nickel.

“The high tenor of results from the final infill drilling program increases the confidence of the resource at Ban Phuc, and the mine plan that will underpin Blackstone’s UBU PFS,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“In the relatively short amount of time since acquiring the Ta Khoa nickel-copper-PGE project, Blackstone has been able to define a large, disseminated sulphide deposit which considerably adds to the security of supply for the company’s vertically integrated downstream refinery.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Blackstone Minerals Advances to Pilot Plant and Ta Khoa Refinery DFS

THE DRILL SERGEANT: There was considerable activity at the Blackstone Minerals (ASX: BSX) exhibition booth at the 2021 Diggers & Dealers Forum in Kalgoorlie after the company announced it is set to commence the first phase of pilot plant work and a Definitive Feasibility Study (DFS) for the Ta Khoa Refinery (TKR) in northern Vietnam.

The decision to proceed with the DFS comes on the back of the company’s recent Ta Khoa Refinery Pre-Feasibility Study.

The first phase of piloting will be designed to process 20 kilograms per hour of nickel concentrate feed and will produce approximately 1.75kg per hour of nickel in nickel:cobalt:manganese (NCM) products.

“The Board’s endorsement of the recent PFS milestone has been rapidly followed by approval of the first phase of piloting and the Ta Khoa Refinery DFS,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“The pilot plant process is an opportunity for Blackstone to optimise, with respect to quantity and quality, recent successful outcomes which include the production of its first battery grade NCM811 Precursor sample.

“The company is acutely aware of its first mover advantage and importantly, will be able to deploy its current balance sheet to continue to fast track the next important stages towards commercialisation of the Ta Khoa Refinery.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au