What's happened?
Big news for Blackstone Minerals (ASX:BSX) today, as they announced a commencement of drilling at the Ban Khoa Nickel-Copper-PGE prospect after its in-house geophysics crew generated new targets associated with the highly prospective Ban Khoa ultramafic intrusion.
This is an important one, so if you're following BSX, make sure to read through the full announcement via the link below.
Key Points on Ban Khoa
- Ban Khoa is located ~1.5km north of the flagship Ban Phuc deposit (see Figure 1);
- The Ban Khoa prospect is analogous to the Ban Phuc Disseminated Sulfide (DSS) orebody where the company has delivered the King Cobra discovery and recently announced the maiden Indicated Mineral Resource of 44.3Mt @ 0.52% Ni for 229kt Ni and Inferred Mineral Resource of 14.3Mt @ 0.35% Ni for 50kt Ni (see ASX Announcement 14 October 2020);
- Drilling at Ban Khoa by previous owners did not target electromagnetic (EM) plates; Blackstone’s geophysics crew will use EM to refine the targets at Ban Khoa for high impact drilling;
- Historic drill holes from Ban Khoa returned results including (see ASX Announcement 29 May, 2020, see Figures 2 & 3 and Tables 1 & 2 in full announcement):
- BK02 33.2m @ 0.76% Ni from 174.5m incl. 15.0m @ 1.03% Ni from 174.5m
- BK03 58.3m @ 0.52% Ni from 197.6m incl. 5.6m @ 1.03% Ni from 203.7m
- BK06 21.9m @ 0.5% Ni from 60.1m
- BK07 63.7m @ 0.4% Ni from 136.8m
- BK08 14.7m @ 0.81% Ni from 114.7m incl. 9.4m @ 1.02% Ni from 120.0
Ban Khoa has a combination of high priority Massive Sulfide Vein (MSV) prospects within a broader DSS target associated with the Ban Khoa ultramafic intrusion.
Additional Drill Rig Purchased
A recently purchased seventh drill rig (in addition to two drill contractor rigs) will continue to follow the geophysics crew throughout the Ta Khoa nickel sulfide district, testing high priority EM targets generated from 25 MSV prospects including Ban Chang, Ta Cuong, Ban Khoa and King Snake.
Next Steps for BSX
Not sure what all this data means?
Book in a call at a time that works for you to speak with one of our analyst team to explain these results and help learn more about how to value small-cap mining companies.
