Blackstone Continues to Deliver Broad Nickel Sulfide at King Cobra Discovery

Highlights:

• Blackstone’s drilling continues to deliver broad disseminated nickel sulfide mineralisation at the King Cobra discovery, part of its Ta Khoa Nickel-PGE project, Vietnam;
• New results include 38m @ 1.1% Ni, 59m @ 0.9% Ni & 49m @ 0.8% Ni from near surface (see
  Figures 1,2 & 3, PGE assays pending);
• New shallow, high grade disseminated nickel sulfide intersections from the King Cobra Zone (KCZ) include 16m @ 1.8% Ni & 20m @ 1.4% Ni;
• Drilling has also intersected some of the broadest downhole intercepts to date including 265m @ 0.33% Ni, 83m @ 0.5% Ni & 72m @ 0.65% Ni;
• Blackstone’s drilling continues to intersect the KCZ over 200m of strike length;
• The King Cobra discovery remains open down dip and along strike (see Figure 1);
• Blackstone has completed resource drilling at Ban Phuc, but continues aggressive exploration with one diamond rig targeting down dip extensions of the King Cobra Zone and a second rig testing massive sulfide vein (MSV) targets throughout Ta Khoa Nickel-PGE project;
• Scoping study focused on downstream processing to produce nickel sulfate for the lithium-ion
  battery industry and maiden resource on track for completion in Q3, CY20;
• Downstream processing potential supported by $6.8 million investment from EcoPro Co
  Limited, the world’s second largest nickel-rich cathode materials manufacturer, completed in April 2020;
• Blackstone’s exploration program has been unaffected by COVID-19, the Company continues to act in accordance with strict protocols to ensure the safety of our employees and the communities we operate.

Blackstone Minerals’ Managing Director Scott Williamson commented:

“Our drilling at the King Cobra discovery continues to intersect broad disseminated nickel sulfide mineralisation. The King Cobra discovery has delivered consistent, shallow, high-grade disseminated nickel sulfide mineralisation potentially amenable to a highly economic, bulk tonnage open pit mining scenario and the restart of the Ta Khoa Nickel-PGE Project.

“Results will be used as part of our maiden resource estimate for the project due in Q3, and we continue to drill with the aim of building a resource inventory that will allow us to restart nickel production from the Ban Phuc mine.”

Blackstone Minerals Limited (ASX:BSX) is pleased to announce further broad disseminated nickel sulfide mineralisation at the King Cobra discovery zone (KCZ), part of its Ta Khoa Nickel-PGE project, Vietnam. Significant new results from the KCZ include 38m @ 1.1% Ni, 59m @ 0.9% Ni & 49m @ 0.8% Ni and high-grade results including 16m @ 1.8% Ni & 20m @ 1.4% Ni. Blackstone has also intersected some of the broadest downhole intercepts to date including 265m @ 0.33% Ni, 83m @ 0.5% Ni & 72m @ 0.65% Ni. Blackstone’s drilling continues to intersect the King Cobra Zone (KCZ) over 200m of strike length and the discovery remains open down dip and along strike to the north-west and south-east.

Blackstone has completed resource drilling at Ban Phuc and placed two rigs on standby, however it
continues its aggressive exploration program with one rig targeting the down dip extents of the King Cobra discovery (KCZ) and a second rig testing massive sulfide vein (MSV) targets throughout the Ta Khoa Nickel-PGE project. A resource estimate for Ban Phuc is on track for completion in Q3, CY20.

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