What's happened?
Blackstone Minerals Ltd (ASX: BSX, “Blackstone”) has purchased a third diamond drill rig to accelerate drilling the Ban Chang prospect at the Ta Khoa Nickel-Cu-PGE project in Vietnam.
What are the key highlights?
- Blackstone owns two diamond drill rigs drilling Ban Chang East and the King Cobra Discovery zone at Ban Phuc.
- A third diamond drill rig will allow Blackstone to accelerate drilling at Ban Chang to supplement the ongoing study work focused on downstream processing to produce nickel sulfate for the lithium-ion battery industry.
- By purchasing a third diamond drill rig the Company has an “All-in” diamond drilling cost of US$50/m at the Ta Khoa project, a ~60% reduction in drilling costs relative to Australian industry averages.
- Blackstone’s four maiden drill holes at Ban Chang all intersected massive sulfide nickel over a 1.2km strike within a 1.2km long massive sulfide target zone defined by high priority electromagnetic (EM) plates.
Please refer to the announcement linked below for further details.
