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Blackstone Minerals Ltd

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

This tenure is rapidly emerging as British Columbia’s premier cobalt belt.

Erebor discovery surface rock chip samples with oxidised cobalt (LHS) and primary cobalt (RHS)
More results from the 700 regional soil, rock chip and stream sediment samples are expected

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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