Blackstone Minerals Limited (ASX:BSX) has unveiled a Mineral Resource update for its 90% owned Ta Khoa Nickel Project (TKNP) in northern Vietnam. The global Ta Khoa resource estimate is comprised of the Ban Phuc and Ban Khoa DSS deposits and the Ban Chang and King Snake MSV.
Blackstone Minerals has conducted significant exploration and development programmes since acquiring the TKNP in late 2019. Programmes include extensive geochemical, geophysical, drilling, mapping, analytical testing, resource evaluations, petrographic and mineralogical analysis at the main development projects and a series of greenfield exploration prospects.
Blackstone’s TKNP and Ta Khoa Refinery (TKR) form two major cogs in Blackstone’s vertically integrated development strategy to produce Nickel-Cobalt-Manganese (NCM) 811 precursor for the growing lithium-ion battery industry. The strategy is underpinned by Blackstone’s ability to secure nickel concentrate and Ta Khoa is emerging as a nickel sulfide district of enviable scale with several exploration targets yet to be tested. The updated TKNP Mineral Resource presented in this report demonstrates a clear means of secure nickel concentrate supply.
In July 2021 the company completed a technically and economically robust PFS for the TKR. The PFS was based on treating 400ktpa of nickel concentrate, supplied from the TKNP as well as third party concentrate. Blackstone plans to provide at least half of the TKR feed concentrate from TKNP, with mill feed sourced from Ban Phuc, Ban Chang, King Snake and potentially other targets as drilling continues.
Update of the Ban Phuc Mineral Resource:
o 123Mt at 0.37% Ni for 452kt of Nickel (or 0.43% NiEQ for 523kt NiEQ) – Increased from 58.7Mt at 0.48% Ni for 280kt of Nickel (June 2020)
o 102Mt at 0.38% Ni (0.44% NiEQ) is in the Indicated category and 21Mt at 0.33% Ni (0.37% NiEQ) is in the Inferred category
- – The Ban Phuc Mineral Resource is reported using a 0.25% Ni cut-off grade for the sulphide component and 0.3% Ni cut-off grade for the oxide and transitional component (previously 0.30% Ni universally)
- – Updated Resource expected to underpin higher throughputs, with a large 8 Mtpa concentrator now being adopted as the base case in the Company’s upcoming TKNP PFS
- – Shape and width of mineralised domains and the continuity of mineralisation are driving low strip ratios for the final Ban Phuc PFS pit design
Maiden Inferred Resources for:
Ban Khoa DSS of 6.2 Mt at 0.31% Ni:
o Ban Khoa has potential to increase operational flexibility due to the mineralisation containing high sulfur content (the confidence classification for Ban Khoa resource is Inferred)
o The Ban Khoa Mineral Resource is reported using a 0.25% Ni cut-off grade for the sulfide component and 0.3% Ni for the oxide and transitional
o Preliminary mining studies have indicated there is the potential for an open pit mine
o There is significant ongoing drilling underway at the Ban Khoa DSS deposits. Resources will
be updated once all information is finalised Ban Chang of 0.70Mt at 1.2% Ni (2.0% NiEQ) and King Snake of 0.43Mt at 1.3% Ni (2.4% NiEQ)
o Higher grade MSV resources are intended to be developed as underground mines and will provide supplementary feed to the large 8 Mtpa concentrator which is the focus of the upcoming TKNP PFS
o Both MSV resources are reported using a 0.7% Ni cut-off grade
o Additional test work is being performed to confirm metallurgical recovery of blended Ta Khoa ore, comprising predominantly Ban Phuc DSS deposit and smaller quantities of the Ban Khoa DSS resource along with the MSV resources
o In addition to primary nickel content, the Ban Chang and King Snake deposits feature strong copper, cobalt, gold, palladium, and platinum by-product credits
o There is significant ongoing drilling underway at Ban Chang and King Snake MSV deposits.
Resources will be updated once all information is finalised
“An aggressive drill out over the past twelve months has culminated into a global Ta Khoa Mineral Resource of enviable scale and increased confidence,” Managing Director, Scott Williamson, said.
“Our Mineral Resource is an early indication of the potential of the Ta Khoa nickel sulphide district, with further aggressive testing already ongoing. Ban Phuc, our large bulk tonnage disseminated sulphide deposit, will underpin base load feed to a large concentrator that is being examined in our upstream Pre-feasibility Study.
“Ban Chang and King Snake are the first of many high-grade massive sulphide opportunities and the company continues to work diligently to increase surety of nickel supply for our downstream refinery in Vietnam, with exploration and resource delineation at Ta Khoa being a core part of our strategy.”
For further information please visit: https://www.blackstoneminerals.com.au/
