Results from the diamond drilling include 29.4 metres at 1.00% nickel, 0.12% copper, 0.02% cobalt and 0.60 g/t Pt+Pd+Au from 140.6 metres.
Drilling is ongoing with additional drill rigs expected to mobilise soon - exploration will include both infill and exploration drilling.
Drilling will target both disseminated sulphide zones (DSS) and massive sulphide zones (MSV) at the project.
The Ta Khoa Nickel Project hosts the Ban Phuc underground nickel mine which operated from 2013 to 2016.
Blackstone’s managing director Scott Williamson said: “Drilling at Ta Khoa continues to deliver significant intersections of disseminated nickel sulphide and, with the recently identified potential for substantial platinum group element (PGE) credits, the Ban Phuc DSS is shaping up to be a globally significant nickel sulphide system.”
PGEs boost project value
Blackstone is the first company to assay the Ban Phuc DSS for PGEs and has recently uncovered a previously unrecognised opportunity.
Previous owners focused on the Ban Phuc massive sulphide vein (MSV), which has relatively low PGE grades.
Blackstone’s maiden PGE assays combined with the abundance of disseminated nickel sulphide targets suggest PGEs associated with disseminated nickel sulphide mineralisation could significantly improve the economics of the Ta Khoa Nickel Project.
Blackstone to explore for both DSS and MSV targets
Previous project owners focused their mining and exploration efforts primarily on the MSV at Ban Phuc, while Blackstone will look to explore both MSV targets and DSS targets.
Blackstone will now initiate an extensive geophysical program of electromagnetic (EM) and induced polarisation (IP) surveys to target further DSS and MSVs.
Blackstone will aim to deliver a maiden resource on the DSS at Ban Phuc over the coming months.
The company will also continue to investigate the potential to restart the Ban Phuc concentrator through focused exploration on both MSV and DSS deposits.