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Blackstone Minerals directors show faith in the company through on-market purchases

The company sees potential to delineate further high-grade mineralisation throughout the Ta Khoa Nickel Project.

Blackstone Minerals Ltd - Blackstone Minerals directors show faith in the company through purchase of shares
The company is a near-term nickel producer

Blackstone Minerals Ltd (ASX:BSX) directors Scott Williamson and Steve Parsons have demonstrated their confidence in the company through on-market share purchases.

Managing director Scott Williamson acquired 750,000 ordinary shares at 16.4 cents per share from September 3-5 and now holds 2.75 million shares in two indirect holdings.

Non-executive director Steve Parsons purchased 475,000 shares at 16.4 cents from September 4-6 and now holds more than 8.622 million shares in direct and indirect interests.

Securities have been up to 15% higher to an intra-day high of 19 cents.

Ta Khoa Nickel Project drilling

The company has recently begun second phase drilling with a second diamond drill rig mobilised at the Ta Khoa Nickel Project in northern Vietnam.

This second rig has deeper drilling capabilities to test the multiple new targets generated from a recently completed induced polarisation (IP) survey.

The shallow drill rig will continue to test sulphide targets at the Ban Phuc nickel mine area within the project.

“Excited” to drill deeper targets

Blackstone managing direct Scott Williamson said: “We’re excited to be drilling our deeper targets generated from the recently completed IP survey at the Ta Khoa Nickel Project – we look forward to further consistent news flow from both drill rigs over the coming weeks.

“We remain well funded to test the multiple new targets generated from the maiden IP survey and continue to unlock the full potential of the extensive sulphide system at Ta Khoa.”

Quick facts: Blackstone Minerals Ltd

Price: 0.12 AUD

ASX:BSX
Market: ASX
Market Cap: $23.09 m
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