https://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 17 Oct 2018 18:20:38 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Blackstone Minerals eyes potential world class cobalt deposit at Little Gem project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10863/blackstone-minerals-eyes-potential-world-class-cobalt-deposit-at-little-gem-project-10863.html Tue, 16 Oct 2018 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/10863/blackstone-minerals-eyes-potential-world-class-cobalt-deposit-at-little-gem-project-10863.html <![CDATA[News - Blackstone Minerals identifies further copper-gold-cobalt targets at Canadian project ]]> https://www.proactiveinvestors.com.au/companies/news/207132/blackstone-minerals-identifies-further-copper-gold-cobalt-targets-at-canadian-project-207132.html Blackstone Minerals Ltd (ASX:BSX) has identified major copper-gold-cobalt targets in a soil sampling program centred on Jewel prospect of the BC Cobalt Project in British Columbia, Canada.

The new soil anomalies are greater than 1.5 kilometres long and coincide with recently identified IP targets.

These indicate a large sulphide-bearing body at depth associated with the Jewel prospect, which is about 1-kilometre from Little Gem prospect.

READ: Blackstone Minerals identifies multiple copper, gold and cobalt targets in Canada

Blackstone’s managing director Scott Williamson said, “Our soil sampling program has identified a major copper-gold-cobalt target at Jewel which coincides with the large IP anomaly we believe to be a substantial sulphide bearing body at depth.”

Jewel has never been drill tested and with multiple large-scale IP targets coinciding with the new soil anomalies, the prospect is the company’s highest priority target to be drill tested at the earliest opportunity.

Williamson said, “We are eagerly anticipating the drilling of these new targets so as to better understand the primary source of the high-grade copper-gold-cobalt mineralisation at Jewel, Little Gem and Erebor.

“We look forward to further results from our 2018 fieldwork program as we continue to unlock what is shaping up to be a potential world-class cobalt district in a tier one mining jurisdiction in British Columbia.”

BC Cobalt Project geological setting.

Surface rock chip samples taken from Jewel have also delivered high-grade assay results including 5.6% and 5.1% copper.

Historical mine

The prospect is associated with the high-grade Jewel Underground Mine with historical production of 51 tonnes mined between 1938 and 1940.

Average grades mined were 73 g/t gold and 0.4% copper and the highest grades assayed were up to 243 g/t gold and 19.2% copper.

These grades have been supported by Blackstone’s rock chip samples of up to 98 g/t gold, 3.2% copper and 0.1% cobalt.

Long section schematic of chargeability isosurfaces and surface rock samples at Jewel.

Since Blackstone acquired the project about 12 months ago, the company has completed an extensive program of prospecting, stream sediment and soil sampling.

Geochemical results coincide with and support the large-scale IP chargeability and resistivity signatures.

READ: Blackstone Minerals samples 2.3% cobalt and 32 g/t gold at Erebor

With the discovery at Erebor revealing grades up to 2.3% cobalt, 32 g/t gold, 1.6% copper and 1.1% nickel combined with the new large-scale IP anomalies, the company continues to unlock the potential for multiple deposits.

Further regional targets are being generated through prospecting and stream sediment sampling across the 335 square kilometres of tenure with 48 kilometres of untested strike of geology prospective for further primary cobalt and gold mineralisation.

BC Cobalt Project plan with copper, gold and cobalt soil contours and IP chargeability isosurfaces.

Little Gem results

At Little Gem, the company has received results from the initial six diamond drill holes and has assay results pending for the remaining five diamond holes.

Best results are:

- 1.1 metres at 3.0% cobalt and 44 g/t gold within 4.3 metres at 1.0% cobalt and 15 g/t gold; - 1.0 m at 1.2% cobalt and 5 g/t gold within 3.2 metres at 0.8% cobalt and 4 g/t gold; - 0.4 metres at 1.2% copper, 5 g/t gold and 0.12% cobalt within 1.0 metre @ 0.5% copper, 4 g/t gold and 0.08% cobalt; and - 0.8 metres at 0.6% cobalt and 9 g/t gold within 1.6 metres at 0.4% cobalt and 5 g/t gold.

Blackstone has now completed the first ever cobalt focused exploration field season in the Bridge River Mining Camp and initial results indicate the BC Cobalt Belt is emerging into a potential world-class cobalt district.

The company is awaiting the regional samples to be processed over the coming months to better understand the full potential of the belt to host further mineralisation.

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Tue, 16 Oct 2018 12:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207132/blackstone-minerals-identifies-further-copper-gold-cobalt-targets-at-canadian-project-207132.html
<![CDATA[News - Blackstone Minerals samples 2.3% cobalt and 32 g/t gold at Erebor ]]> https://www.proactiveinvestors.com.au/companies/news/206621/blackstone-minerals-samples-23-cobalt-and-32-gt-gold-at-erebor-206621.html Blackstone Minerals Ltd (ASX:BSX) has received rock chip assays from the new Erebor discovery at the Little Gem Cobalt-Gold Project in British Columbia (BC), Canada.

One sample alone assayed 2.3% cobalt, 32 g/t gold and 1.1% nickel with another copper-gold sample featuring 16.7 g/t gold and 1.6% copper.

The high-grade samples represent the first discovery of significant cobalt-gold mineralisation in the region since prospectors found similar mineralisation in the 1930s.

The Little Gem Project hosts historical workings and drilling this year has intersected high-grade gold and cobalt featuring 1.1-metre at 3.0% cobalt and 44 g/t gold.

Major step to unlocking project potential

By confirming high-grade cobalt-gold mineralisation outside of the known mineralisation at Little Gem, Blackstone has taken a major step towards unlocking the potential for multiple deposits.

Notably, this region has geology analogous to the Bou-Azzer primary cobalt district in Morocco which hosts over 50 deposits and 75 years of cobalt production.

Blackstone’s 335 square kilometre landholding is rapidly emerging as British Columbia’s premier cobalt belt.

Further regional targets are being generated through prospecting and stream sediment sampling across the entire tenure.

READ: Blackstone Minerals identifies multiple copper, gold and cobalt targets in Canada

Blackstone’s managing director Scott Williamson said: “These high-grade assays confirm the Erebor discovery as the first known occurrence of high-grade cobalt-gold mineralisation in the region since prospectors identified similar mineralisation in the 1930’s which led to the initial discovery of Little Gem.

“The Erebor discovery opens up the potential for multiple targets similar to the Bou-Azzer primary cobalt district in Morocco and combined with the recent IP survey results see the Bridge River Mining Camp emerging as a potential world-class cobalt belt located in a tier one mining jurisdiction in British Columbia, Canada.”

More sample results expected

Blackstone has taken over 700 regional soil, rock chip and stream sediment samples throughout the entire 335 square kilometres of tenure at the high-grade Little Gem Cobalt-Gold Project.

Blackstone is awaiting the regional samples to be processed over the coming months.

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Tue, 09 Oct 2018 11:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206621/blackstone-minerals-samples-23-cobalt-and-32-gt-gold-at-erebor-206621.html
<![CDATA[Media files - Blackstone Minerals 'dealing with something much larger than we thought' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10740/blackstone-minerals-dealing-with-something-much-larger-than-we-thought--10740.html Fri, 05 Oct 2018 09:42:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10740/blackstone-minerals-dealing-with-something-much-larger-than-we-thought--10740.html <![CDATA[News - Blackstone Minerals identifies multiple copper, gold and cobalt targets in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/206243/blackstone-minerals-identifies-multiple-copper-gold-and-cobalt-targets-in-canada-206243.html Blackstone Minerals Ltd (ASX:BSX) has identified multiple new large-scale targets at the Jewel copper-gold-cobalt prospect within its Little Gem Project in British Columbia, Canada.

The induced polarisation (IP) survey has identified new anomalies which are significantly larger and stronger than the anomalies from the first phase.

The Jewel prospect is located 1.1 kilometres northeast of the Little Gem prospect and is associated with the high-grade Jewel Underground Mine with historical production of 51 tonnes mined between 1938 and 1940.

Average grades mined were 73 g/t gold and 0.4% copper and the highest grades assayed were up to 243 g/t gold and 19.2% copper.

These historical grades have been supported by Blackstone Minerals rock chip samples of up to 98 g/t gold, 3.2% copper and 0.1% cobalt.

 

Blackstone managing director Scott Williamson said: “Our second phase of IP survey results have identified large-scale targets at the Jewel Copper-Gold-Cobalt Prospect.

“Our field work indicates Jewel is associated with anomalous cobalt mineralisation and with the recent Erebor Cobalt-Gold discovery nearby the Little Gem project is shaping up to be a world class Cobalt district.

“The Petrophysical analysis we completed on core samples from Little Gem indicate the sulfide alteration associated with the cobalt and gold mineralisation at Little Gem has a high IP response.

“These IP/ resistivity surveys have highlighted targets that are consistent with the measured response from Little Gem but significantly larger in size.”

Blackstone has completed the initial six diamond drill holes at Little Gem and now has assay results pending for the remaining five diamond drill holes from the maiden drilling program.

Drilling to date has intersected the Little Gem structure within metres of the interpreted target.

Significant results from the first six drill holes at Little Gem include:
• 4.3 metres at 1.0% cobalt and 15 g/t gold including 1.1 metres at 3.0% cobalt and 44 g/t gold; and
• 3.2 metres at 0.8% cobalt and 4 g/t gold including 1.0 metres at 1.2% cobalt and 5 g/t gold.

Cobalt market

Cobalt contributes up to 60% of the value of lithium-ion batteries which in turn accounts for greater than 50% of demand for cobalt.

The lithium-ion battery is projected to become the world’s most significant source of power with the use in electric vehicles (EV) being the key driver.

Bloomberg forecasts 55% of vehicles sold by 2040 will be electric. Currently, only 1% of global sales are EVs.

Consequently, cobalt demand is expected to rise at a 5% compound annual growth rate over the next 4 years.

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Wed, 03 Oct 2018 11:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206243/blackstone-minerals-identifies-multiple-copper-gold-and-cobalt-targets-in-canada-206243.html
<![CDATA[Media files - Blackstone Minerals eyeing drilling after identifying 'two cracking IP anomalies' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10430/blackstone-minerals-eyeing-drilling-after-identifying-two-cracking-ip-anomalies--10430.html Tue, 11 Sep 2018 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10430/blackstone-minerals-eyeing-drilling-after-identifying-two-cracking-ip-anomalies--10430.html <![CDATA[News - Blackstone Minerals adds 13.6% after identifying new targets at primary cobalt project Little Gem in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/204304/blackstone-minerals-adds-136-after-identifying-new-targets-at-primary-cobalt-project-little-gem-in-canada-204304.html Blackstone Minerals Ltd (ASX:BSX) securities gained 13.64% on Thursday after the primary-cobalt explorer confirmed new targets along strike at Little Gem Cobalt-Gold Project in the state of British Columbia in Canada.

The cobalt pure play reported multiple new targets had been confirmed along its target zone.

Blackstone managing director Scott Williamson said: “Our first phase of IP survey results confirm the potential for multiple discoveries along the +1.8km strike target zone at Little Gem.”

 

The company’s drawcard project has the same kind of mineralisation to a world-renowned primary cobalt operation in Morocco that has been operating for near on 75 years.

Williamson said today: “We continue to see a belt-scale opportunity similar to the world-class Bou-Azzer primary cobalt district in Morocco.

“We have now surveyed only a small portion of our total tenure and already have two new high-priority drill targets showing coincident geochemical and geophysical anomalies.

“The IP anomalies have been elevated to our highest priority targets at Little Gem and will be drill-tested at the earliest opportunity.”

READ: Blackstone Minerals observes cobalt and gold at first new discovery in region of Canada since 1930s

The IP survey identified two new targets with significant anomalies that have chargeability and resistivity signatures usually seen in sulphide-bearing bodies.

Blackstone also recently found cobalt-gold mineralisation southwest of Little Gem at Erebor.

Speaking on the achievements, Blackstone reported: “The company continues to unlock the potential for multiple deposits in a region with geology analogous to the Bou-Azzer primary cobalt district in Morocco.”

READ: Blackstone Minerals gains $1 million from divesting Red Gate Project to pre-IPO explorer

Blackstone is waiting on second-phase results from its IP survey across the Jewel trend located near a serpentinite/granodiorite contact zone, which could add to its high-grade cobalt-gold findings.

The company is continuing to progress a soil-sampling program along the Jewel strike which has achieved highlights such as 98g/t gold and 3.2% copper.

Blackstone is also targeting Little Gem with the program and Roxey which achieved 24g/t gold and 1.9% copper.

The company said: “Further regional targets are being generated through prospecting and stream sediment sampling across the entire 335 square kilometres of tenure with 48 kilometres of untested strike of geology prospective for further primary cobalt and gold mineralisation.”

Highlight intersections from Little Gem have included 1.1 metres at 3% cobalt and 44 g/t gold within 4.3 m at 1% cobalt and 15 g/t gold and 1 metre at 1.2% cobalt and 5 g/t gold within 3.2 metres at 0.8% cobalt and 4 g/t gold.

Blackstone securities added 1.5 cents, or 13.64%, to close at 12 cents today.

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Thu, 06 Sep 2018 02:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204304/blackstone-minerals-adds-136-after-identifying-new-targets-at-primary-cobalt-project-little-gem-in-canada-204304.html
<![CDATA[Media files - Blackstone Minerals generating targets that are 'too good not to test' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10151/blackstone-minerals-generating-targets-that-are-too-good-not-to-test--10151.html Fri, 17 Aug 2018 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10151/blackstone-minerals-generating-targets-that-are-too-good-not-to-test--10151.html <![CDATA[News - Blackstone Minerals observes cobalt and gold at first new discovery in region of Canada since 1930s ]]> https://www.proactiveinvestors.com.au/companies/news/203007/blackstone-minerals-observes-cobalt-and-gold-at-first-new-discovery-in-region-of-canada-since-1930s-203007.html Blackstone Minerals Ltd (ASX:BSX) has made the first discovery of cobalt and gold in the region of the Little Gem project in Canada since the 1930s when prospectors discovered similar mineralisation.

The Erebor discovery adds weight to the belief that Little Gem hosts multiple deposits similar to the Bou-Azzer primary cobalt district in Morocco, which has more than 50 deposits and 75 years of cobalt production.

READ: Blackstone Minerals focused on battery metals of nickel and cobalt as well as gold

At Erebor, which is 900 metres along an interpreted ultramafic trend southwest of the historical Little Gem mine adits, visible gold and oxidised cobalt (erythrite) was observed in rock chip samples.

Managing director Scott Williamson said: “This is a significant breakthrough for Blackstone and the high-grade Little Gem project and opens up the potential for multiple targets similar to the Bou-Azzer cobalt district in Morocco.”

Shares are up 8.7% to 12.5 cents.

 

Little Gem was discovered in the 1930s by prospectors identifying a pink cobalt-bloom on weathered mineralisation (erythrite) that led to three adits being developed.

Blackstone is awaiting results from an extensive induced polarisation (IP) survey testing the more than 1.8-kilometre strike target zone at Little Gem and nearby Jewel prospect.

Detailed soil sampling

The company is also nearing completion of a detailed soil sampling program over multiple prospects adjacent to Little Gem.

This work includes regional reconnaissance sampling targeting 335 square kilometres of tenure prospective for primary cobalt mineralisation.

Blackstone has taken more than 700 regional soil, rock chip and stream sediment samples throughout the tenure.

Williamson said: “We eagerly await results from the IP survey and the ongoing extensive regional sampling and prospecting to define further targets throughout the region.”

The results will enable the company to better understand the full potential of the British Columbia project to host further cobalt-gold mineralisation.

This would appeal to cobalt end-users looking for a long-term supply of the key ingredient in the cathode chemistry of the lithium-ion battery.

Strong drilling results

Blackstone has completed the initial six diamond drill holes at Little Gem and has assay results pending for the remaining five diamond drill holes from the maiden drilling program.

The alteration halo is significantly larger than previously estimated and 2018 drilling to date has consistently intersected a broad alteration zone, highlighting potential for a major hydrothermal system.

Best results from the first six drill holes are: 1.1 metres at 3.0% cobalt and 44 g/t gold within 4.3 metres at 1.0% cobalt and 15 g/t gold; and 1.0 metre at 1.2% cobalt and 5 g/t gold within 3.2 metres at 0.8% cobalt and 4 g/t gold.

There has been little modern-day exploration at Little Gem with the main activities being airborne geophysical surveys in the 1970s and two drill holes completed in 1986.

Additional prospects identified

The second mineral occurrence at the project is the Jewel gold prospect which supported some gold production from 1938 to 1940 and is only 1.1 kilometres from the Little Gem mine.

Since Blackstone began working on the project it has verified mineralisation identified historically at Little Gem and Jewel prospects and discovered the Roxey high-grade gold-copper prospect.

Roxey, which is 1.5 kilometres from Little Gem prospect, was visually identified during Blackstone’s due diligence site visit.

Strong cobalt demand story

Cobalt contributes up to 60% of the value of lithium-ion batteries which in turn accounts for more than 50% of demand for cobalt.

The lithium-ion battery is projected to become the world’s most significant source of power with the use in electric vehicles (EVs) being the key driver.

Only 1% of global vehicle sales are EVs but Bloomberg forecasts 55% of vehicles sold by 2040 will be electric and cobalt demand is expected to rise at 5% compound annual growth rate over the next four years.

Cobalt’s other main use at 20% is in superalloys which compliments the battery demand as high-tech industry grows.

Growth in supply

The company believes there is a supply issue in the cobalt market with more than 60% of global supply sourced from the Democratic Republic of Congo (DRC).

Growth in supply will also come from the central African country with several large companies such as Glencore, Randgold and China Molybdenum operating and developing projects there.

Williamson said: “A lot of battery manufacturers are focused on sourcing conflict-free, ethical cobalt and are not interested in the DRC broadly as a jurisdiction they would like to access for their supply.”

Blackstone, which listed on the ASX in January 2017 after raising $3.5 million in its initial public offering under a tight capital structure, stands out from its peers, particularly in terms of cobalt grades.

Peers in a similar range of market capitalisation generally have cobalt grades around or under 1%.

Exploring for nickel-gold in Western Australia

Blackstone’s primary focus was exploring gold and nickel assets in Western Australia before it acquired the Little Gem project.

The WA work is continuing and the company is drilling for gold and nickel sulphides at its Silver Swan South project in the Goldfields region.

READ: Blackstone Minerals gains $1 million from divesting Red Gate project to pre-IPO explorer

Second phase aircore drilling at the Black Eagle prospect at Silver Swan South in March intersected gold mineralisation and extensive basement geochemical anomalism.

Results included 10 metres at 3.2 g/t gold from 68 metres within 15 metres at 2.2 g/t from 64 metres.

This emerging discovery is 8 kilometres along strike from the plus-5 million ounce Kanowna Belle Gold Mine of Northern Star Resources Ltd (ASX:NST).

Silver Swan South is also along trend to the south of the Silver Swan nickel deposit, which has produced 166,000 tonnes of nickel.

The project area contains komatiite units similar in age and geochemistry to the Silver Swan host.

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Thu, 16 Aug 2018 11:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203007/blackstone-minerals-observes-cobalt-and-gold-at-first-new-discovery-in-region-of-canada-since-1930s-203007.html
<![CDATA[News - Blackstone Minerals gains $1 million from divesting Red Gate project to pre-IPO explorer ]]> https://www.proactiveinvestors.com.au/companies/news/202247/blackstone-minerals-gains-1-million-from-divesting-red-gate-project-to-pre-ipo-explorer-202247.html Blackstone Minerals Ltd (ASX:BSX) has entered into a binding option agreement to divest 100% of its Red Gate Gold Project for a total value of $1 million.

The agreement is with Golden Pacific Resources Ltd, a pre-IPO gold exploration company that expects to list on the ASX by December 21, 2018.

Red Gate consists of one granted exploration licence covering an area of 145.2 square kilometres around 140 kilometres northeast of Kalgoorlie.

 

Blackstone managing director Scott Williamson said the company was pleased with the successful divestment.

“Red Gate has become a non-core asset since the acquisition of our flagship Little Gem Cobalt-Gold Project in British Columbia, Canada, and the recent success at Silver Swan South, Western Australia.

“We continue to see potential for the Red Gate project to discover mineable resources and hence we are now looking forward to becoming a major shareholder of Golden Pacific Resources over the coming months.

“We wish the board and management of Golden Pacific Resources every success in finalising their IPO and continuing to progress the Red Gate project.”

READ: Blackstone Minerals focused on battery metals of nickel and cobalt as well as gold

Blackstone has granted an exclusive option to purchase to Golden Pacific, valid until December 21, 2018.

Upon achieving an ASX listing, the option to purchase will be deemed to be exercised and the purchase price will be payable to Blackstone.

The purchase price will be $500,000 in cash payable within five days of listing, and $500,000 of Golden Pacific shares to be issued at the IPO price.

Golden Pacific will bring 2-3 gold projects to market when it lists, with Red Gate being its flagship project.

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Sun, 05 Aug 2018 22:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202247/blackstone-minerals-gains-1-million-from-divesting-red-gate-project-to-pre-ipo-explorer-202247.html
<![CDATA[News - Blackstone Minerals focused on battery metals of nickel and cobalt as well as gold ]]> https://www.proactiveinvestors.com.au/companies/news/201973/blackstone-minerals-focused-on-battery-metals-of-nickel-and-cobalt-as-well-as-gold-201973.html Blackstone Minerals Ltd (ASX:BSX) is one of many companies striving to meet increasing demand for battery metals, adding cobalt in Canada to its gold and nickel assets in Western Australia.

The company listed on the ASX in January 2017 after raising $3.5 million in its initial public offering (IPO) under a tight capital structure.

Its primary focus was exploring gold and nickel assets in Western Australia before it acquired the Little Gem prospect in British Columbia.

 

Initial drilling at Little Gem delivered strong cobalt and gold results, assaying 4.3 metres at 1% cobalt and 15 g/t gold, including 1.1 metres at 3% cobalt and 44 g/t gold.

These world-class grades quickly changed Blackstone’s focus and it began to model Little Gem as a potential primary cobalt mine with gold as a by-product.

READ: Blackstone Minerals shares spike on cobalt-gold discovery

 

Little Gem is within a prolific mineralised region of British Columbia

 

Little Gem’s geology is analogous to the Bou-Azzer primary cobalt mine in Morocco, which is one of the world’s only operating primary cobalt mines.

Bou-Azzer’s ore bodies are near the contact of serpentinite and diorite, which reflects the geological setting seen at Little Gem.

Blackstone has recently announced four intercepts with economic grades for cobalt and gold, and has five assays still pending.

The company also holds several promising prospects in proximity to Little Gem.

Stand-out among peers

Blackstone’s peers in a similar range of market capitalisation generally have cobalt grades around or under 1%.

Blackstone is capitalised at around $18 million.

The company is continuing its drilling programs to further define Little Gem’s geology and eventually estimate an economic resource.

Blackstone managing director Scott Williamson said: “What we’re looking for will be something that’s an underground mine; it will have a small footprint; it will be low cap-ex; it will have quick timeframes into production; and good economic payback.

“Because we’re dealing with very high grades we won’t need large tonnages and [we] can mine very efficiently in an underground scenario with small tonnes.”

 

Potential shared processing facility in BC

Blackstone is in early discussions regarding a potential shared processing facility if Blackstone is to find an ore body worth mining at Little Gem.

Williamson said: “We’re working with the owners of the Bralorne mine, and potentially working together to build the facility.

“They have a facility planned for processing and it will be very similar to the facility that we would require for Little Gem.”

Shifting cobalt supply from DRC

The company believes there is a supply issue in the cobalt market with more than 60% of global supply sourced from the Democratic Republic of Congo (DRC).

Growth in supply will also come from the central African country with several large companies such as Glencore, Randgold and China Molybdenum operating and developing projects there.

Williamson said: “A lot of battery manufacturers are focused on sourcing conflict-free, ethical cobalt and are not interested in the DRC broadly as a jurisdiction they would like to access for their supply.”

Little Gem’s location in mining-friendly British Columbia could be advantageous as a potential major source of high-grade cobalt for the burgeoning battery metals sector.

Exploring for nickel-gold

Blackstone is also drilling for gold and nickel sulphides at its Silver Swan South project in Western Australia’s Goldfields region.

Second phase aircore drilling at the Black Eagle prospect at Silver Swan South in March intersected gold mineralisation and extensive basement geochemical anomalism.

Results included 10 metres at 3.2 g/t gold from 68 metres within 15 metres at 2.2 g/t from 64 metres.

  READ: Blackstone Minerals hits high-grade gold at Eastern Goldfields project

This emerging discovery is 8 kilometres along strike from the plus-5 million ounce Kanowna Belle Gold Mine of Northern Star Resources Ltd (ASX:NST).

Silver Swan South is also along trend to the south of the Silver Swan nickel deposit, which has produced 166,000 tonnes of nickel.

The project area contains komatiite units similar in age and geochemistry to the Silver Swan host.

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Tue, 31 Jul 2018 23:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201973/blackstone-minerals-focused-on-battery-metals-of-nickel-and-cobalt-as-well-as-gold-201973.html
<![CDATA[Media files - Blackstone Minerals making noise at 121 Mining in NYC, continuing drill program at cobalt asset ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9472/blackstone-minerals-making-noise-at-121-mining-in-nyc-continuing-drill-program-at-cobalt-asset-9472.html Wed, 06 Jun 2018 11:19:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9472/blackstone-minerals-making-noise-at-121-mining-in-nyc-continuing-drill-program-at-cobalt-asset-9472.html <![CDATA[Media files - Blackstone Minerals' diamond drilling results show very high-grade cobalt and gold ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9406/blackstone-minerals-diamond-drilling-results-show-very-high-grade-cobalt-and-gold-9406.html Thu, 31 May 2018 11:29:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9406/blackstone-minerals-diamond-drilling-results-show-very-high-grade-cobalt-and-gold-9406.html <![CDATA[News - Blackstone Minerals hits high-grade gold at Eastern Goldfields project ]]> https://www.proactiveinvestors.com.au/companies/news/192476/blackstone-minerals-hits-high-grade-gold-at-eastern-goldfields-project-192476.html Blackstone Minerals Ltd (ASX:BSX) has received high-grade gold hits from drilling at the Silver Swan South project in the Eastern Goldfields of Western Australia.

Second phase aircore drilling at the Black Eagle prospect has intersected gold mineralisation and extensive basement geochemical anomalism.

Results include 10 metres at 3.2 g/t gold from 68 metres within 15 metres at 2.2 g/t from 64 metres.

READ: Blackstone Minerals shares spike on cobalt-gold discovery

The results have upgraded Black Eagle and when combined with previous reconnaissance results of 3 metres at 3.5 g/t from 60 metres, it has been elevated to a priority drill target.

Blackstone’s emerging discovery is 8 kilometres along strike from the plus-5 million ounce Kanowna Belle Gold Mine owned by Northern Star Resources Ltd (ASX:NST).

The basement geochemistry contours at Black Eagle are similar in size to the footprint of the Kanowna Belle deposit.

Black Hawk prospect next target

Aircore drilling, which is due to start shortly, will also target the nearby Black Hawk prospect to follow-up on an initial 3 metres at 2.6 g/t from 52 metres in the first phase of drilling.

Following the success of two aircore programs, the company plans to begin a maiden diamond drilling program during the June quarter of 2018.

Blackstone’s Australian assets complement its flagship high-grade Little Gem Cobalt-Gold Project in British Columbia, Canada.

The company is also targeting gold mineralisation at the Middle Creek prospect in the Pilbara region of Western Australia.

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Fri, 02 Mar 2018 11:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192476/blackstone-minerals-hits-high-grade-gold-at-eastern-goldfields-project-192476.html
<![CDATA[News - Blackstone Minerals shares spike on cobalt-gold discovery ]]> https://www.proactiveinvestors.com.au/companies/news/189691/blackstone-minerals-shares-spike-on-cobalt-gold-discovery-189691.html Blackstone Minerals Ltd’s (ASX:BSX) shares surged more than 30% intra-day to $0.645 on the back of drilling data from its Little Gem Cobalt-Gold Project in Canada.

The results featured 4.3 metres at 1% cobalt and 15 g/t gold.

The first hole has only tested the upper portion of the mineralised target with multiple zones of massive sulphide (cobalt-gold) mineralisation identified.

Drilling will continue in the second quarter of 2018.

Results consistent with historical drilling

The Little Gem Project was discovered in the 1930’s by prospectors identifying a pink cobalt-bloom on weathered mineralisation that led to three adits being developed.

Assay results of up to 1.8 metres at 2.4% cobalt and 112 g/t gold were recorded, pointing to some correlation with current data.

The Little Gem Project covers a large landholding with 48 kilometres of untested strike potential.

It is also located less than 15 kilometres along strike from the Bralorne-Pioneer mining complex which has an endowment of 4.4 million ounces at 17 g/t gold.

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Tue, 09 Jan 2018 13:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189691/blackstone-minerals-shares-spike-on-cobalt-gold-discovery-189691.html
<![CDATA[News - Blackstone Minerals granted trading halt to reveal assays ]]> https://www.proactiveinvestors.com.au/companies/news/189555/blackstone-minerals-granted-trading-halt-to-reveal-assays-189555.html Blackstone Minerals (ASX:BSX) is preparing to reveal its latest exploration results, with the ASX granted a trading halt this morning.

Blackstone is currently advancing exploration at the High Grade Little Gem Cobalt-Gold Project in British Columbia, Canada, where historic drilling and adit channel sampling delivered average grades of 3% cobalt and 20g/t gold.

It will be the first company to undertake systematic exploration in over 60 years.

In Australia, Blackstone has strategically located assets including the Pilbara Gold - Middle Creek Project which is adjacent to Novo Resources Ltd (TSX-V:NVO) Beatons Creek Conglomerate Gold project and Millennium Minerals Ltd (ASX:MOY) Nullagine Gold project.

Investors have been providing strong support for the company's strategy, highlighted by the recently oversubscribed $5 million raising.

The halt will remain in place until the opening of trade on Tuesday 9th January 2018, or earlier if an announcement is made to the market.

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Fri, 05 Jan 2018 09:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189555/blackstone-minerals-granted-trading-halt-to-reveal-assays-189555.html