Blackstone Minerals Ltd (ASX: BSX) has intersected further broad disseminated nickel mineralisation at the King Cobra discovery zone (KCZ), part of its Ta Khoa Nickel-PGE project, Vietnam.
Significant new results from the KCZ include 38m @ 1.1% Ni, 59m @ 0.9% Ni & 49m @ 0.8% Ni and high-grade results including 16m @ 1.8% Ni & 20m @ 1.4% Ni.
Managing Director, Scott Williamson, said Blackstone has also intersected some of the broadest downhole intercepts to date including 265m @ 0.33% Ni, 83m @ 0.5% Ni & 72m @ 0.65% Ni. Blackstone’s drilling continues to intersect the King Cobra Zone (KCZ) over 200m of strike length and the discovery remains open down dip and along strike to the north-west and south-east.
The company has new completed resource drilling at Ban Phuc and placed two rigs on standby, however it continues its aggressive exploration program with one rig targeting the down dip extents of the King Cobra discovery (KCZ) and a second rig testing massive sulfide vein (MSV) targets throughout the Ta Khoa Nickel-PGE project. A resource estimate for Ban Phuc is on track for completion in Q3, CY20.
“Our drilling at the King Cobra discovery continues to intersect broad disseminated nickel sulfide mineralisation,” Mr Williamson said.
“The King Cobra discovery has delivered consistent, shallow, high-grade disseminated nickel sulfide mineralisation potentially amenable to a highly economic, bulk tonnage open pit mining scenario and the restart of the Ta Khoa Nickel-PGE Project.
“Results will be used as part of our maiden resource estimate for the project due in Q3, and we continue to drill with the aim of building a resource inventory that will allow us to restart nickel production from the Ban Phuc mine.”
Blackstone is evaluating near mine MSV an other potential DSS targets for drill testing during the 2020 season, with the concept of identifying 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.
Blackstone believes that the Ta Khoa project represents a true district scale Nickel-PGE sulfide opportunity of a calibre rarely controlled by a junior company.
The project also has significant infrastructure advantages that include the existing 450ktpa processing facility, abundant low cost hydroelectric power, a skilled low-cost labour force, located in an Asian hub for electronics and battery manufacturing with a growing demand for nickel sulfate for lithium-ion battery manufacturing.