The ‘King Cobra’ discovery includes near-surface downhole intervals of up to 60 metres and visual estimates of up to 20% sulphide mineralisation.
Cross Section 49850E showing the King Cobra discovery zone and drill holes BP19-29, BP19-34 & BP19-35
The new discovery includes the first-ever intersection of massive sulphide vein and breccia styles of sulphide mineralisation within the Ban Phuc intrusion which may provide vectors towards the high grade ‘feeder zone’ mineralisation.
Summary of significant results from the Ban Phuc DSS drilling since the previous announcement
Blackstone managing director Scott Williamson said: “Blackstone is very pleased with the rapid progress and exciting results to date that are outlining a near surface, large scale disseminated Nickel - PGE deposit at Ban Phuc.
“We feel that the discovery of the King Cobra zone is a step change for exploration of the deposit.
“A substantial thickness of disseminated and potentially higher-grade Nickel – PGE mineralisation within a few metres of surface may prove to be a bulk mineable opportunity”.
Plan View showing Ban Phuc DSS drill hole collar locations
Blackstone aims to deliver a maiden resource on the DSS (disseminated sulphide) at Ban Phuc over the coming months and investigate the potential to restart the existing Ban Phuc concentrator through focused exploration on both MSV (massive sulphide vein) and DSS deposits.
The company has commenced a scoping study on the downstream processing facility at Ta Khoa. The scoping study will provide detail for potential joint venture partners to formalise a binding agreement.
Blackstone has also commenced metallurgical testing on the Ban Phuc DSS orebody with an aim to develop a flow sheet for a product suitable for the lithium ion battery industry.
In addition, Blackstone will investigate the potential to develop downstream processing infrastructure in Vietnam to produce a downstream nickel and cobalt product to supply Asia’s growing lithium ion battery industry.