Sign up Australia
Proactive Investors - Run By Investors For Investors

Blackstone Minerals shares spike on cobalt-gold discovery

Drilling results align with historical cobalt-gold assay results
Picture of cobalt symbol on periodic table
Second quarter drilling program could provide momentum in 2018

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.

View full BSX profile View Profile

Blackstone Minerals Ltd Timeline

Related Articles

October 01 2018
The aim is to move two years' worth of ore into the indicated resource category
project area
October 19 2018
Completion of pre-feasibility study and project costing and economics expected in the third quarter of calendar year 2019.
September 27 2018
Vanadium has outperformed the market significantly over the past three years, and Anglo Pacific is benefittng

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use