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Blackstone Minerals approved to start drilling the Chim Van nickel target in Vietnam

Published: 09:14 13 Apr 2022 AEST

Blackstone Minerals Ltd - Blackstone Minerals approved to start drilling the Chim Van nickel target in Vietnam

Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF) has received approvals from the Vietnamese government to start drilling at the highly prospective Chim Van target.

In October 2021, BSX put an agreement in place to collaborate with the Vietnamese government in identifying nickel opportunities outside its Ta Khoa District Tenement.

The fruit of this collaboration was the Chim Van nickel target, just 10 kilometres from Blackstone’s Ban Phuc open-pit deposit.

Today, the company announced the initial phase of the collaboration with the General Department of Geology & Minerals of Vietnam (GDGMV) has been successfully completed, leading to the mobilisation of a drill rig to site.

“Blackstone is very pleased with the ongoing collaboration with the GDGMV at the Chim Van target. Drilling will test the conceptual geological and geophysical target at Chim Van for nickel-copper-platinum group element (PGE) sulphides, and if successful, Blackstone will proceed to take steps to secure an exploration license,” Blackstone managing director Scott Williamson said.

“Exploration continues to be a major focus for the company as we look to organically increase our mining inventory available to feed the Ta Khoa Refinery. We are excited for the potential that Chim Van has to feed into our longer-term growth profile.”

Highlights of the collaboration on the Chim Van exploration target include:

  • Geophysical modelling suggests a concealed ultramafic target similar to the Ban Phuc disseminated sulfide (DSS) deposit;
  • Chim Van features a magnetic anomaly an order of magnitude larger than the Ban Phuc ultramafic intrusion; and
  • Drill rig currently mobilising to the site to commence the first priority drill hole.

Full steam ahead

Blackstone has already hit several milestones in 2022.

The company owns 90% of the Ta Khoa Nickel-Copper-PGE Project (TKNP) in northern Vietnam, 160 kilometres west of Hanoi in the Son La Province. The project includes an existing modern nickel mine built to Australian standards, which is currently under care and maintenance. The Ban Phuc nickel mine successfully operated as a mechanised underground nickel mine from 2013 to 2016.

In February this year, BSX announced that it had completed the pre-feasibility study for the TKNP, which confirmed that an expanded Ta Khoa project will provide a secure, sustainable and economic supply of nickel for Blackstone to produce, through its refinery arm, the Ta Khoa Refinery Project (TKR), a nickel:cobalt:manganese (NCM) precursor for the lithium-ion battery industry.

Read: Blackstone Minerals PFS shows expanded Ta Khoa Nickel Project delivers strong value for vertically integrated business

Just this week, the company took a step towards de-risking the start of full commercial-scale operations with nickel and cobalt feedstocks for the Ta Khoa Refinery Piloting Program delivered to the ALS Metallurgical Laboratory in Balcatta, Western Australia.

The contractor is in the final preparation stage to begin the piloting program this month.

Read: Blackstone Minerals delivers nickel and cobalt feedstock for start of refinery pilot program

BSX has also completed its first Digbee ESGTM assessment to progress Environmental, Social and Governance (ESG) goals for the development of the Ta Khoa Project in Vietnam.

At both the mine (upstream) and refinery (downstream) level, Blackstone is focused on a partnership model and is collaborating with groups who are focused on sustainable mining, minimising carbon footprint and implementing a fully vertically integrated supply chain.

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