Blackstone Minerals Intersects over 9 Metre Wide Zone of Nickel Sulfides at Ban Chang

▪ Blackstone Minerals (ASX:BSX) has intersected a 9.15m wide zone of sulfide vein mineralisation from drilling at the Ban Chang prospect at its Ta Khoa Nickel-PGE project, Vietnam

▪ Drill hole BC20-03 intersected 4.6m of massive sulfide (MSV) and semi massive sulfide veins (SMSV) (refer to Figures 1 & 2) with the broader intersection comprising:
o 1.00m disseminated sulfide (DSS) & sulfide veinlets from 57.05m o 0.35m sulfide veinlets from 58.05m
o 0.30m MSV from 58.40m
o 2.30m DSS, 10-12% sulfides from 58.70m
o 2.35m SMSV from 61.0m
o 1.85m MSV from 63.35m
o 0.40m sulfide veinlets from 65.20m
o 0.10m MSV from 65.60m
o 0.50m DSS & sulfide veinlets from 65.70m

▪ Blackstone’s maiden three drill holes have all intersected massive sulfide nickel over a 1km strike within a 1.2km long massive sulfide target (refer to Figure 3), defined by high priority electromagnetic (EM) plates generated by the Company’s in-house geophysics crew with the support of Core Geophysics;

▪ Blackstone’s drilling continues to intersect massive sulfide within metres of the modelled EM plates, confirming EM’s potential to unlock the world-class magmatic nickel sulfide geology throughout the Ta Khoa nickel sulfide district;

▪ Blackstone’s second drill rig will continue to follow the geophysics crew throughout the Ta Khoa district, testing high priority EM targets generated from 25 MSV prospects including King Snake, Ban Khoa, Ban Chang, and Ban Khang;

▪ Blackstone is targeting MSV prospects analogous to the Ban Phuc MSV, where previous owners mined 975kt of high-grade ore at average grades of 2.4% Ni & 1.0% Cu from an average vein width of 1.3m, producing 20.7kt Ni, 10.1kt Cu and 0.67kt Co;

▪ Drilling continues at the King Cobra Discovery zone (KCZ) at depth;

▪ Blackstone’s Scoping Study on downstream processing to produce nickel sulfate for the lithium-
ion battery industry and a Ban Phuc maiden resource are on track for completion in Q3, CY20;

▪ Downstream processing potential supported by $6.8millioninvestment from EcoProCo Limited, the world’s second largest nickel-rich cathode materials manufacturer, completed in April 2020.

Backstone Minerals’ Managing Director Scott Williamson commented:

“We’re pleased to announce a significant intersection of a 9.15m wide zone of nickel sulfide vein mineralisation at Ban Chang which could have the scale and geometry to be mined as a bulk underground mining scenario. We’ll continue to explore Ban Chang’s potential to become a supplementary high-grade feed source to the main Ban Phuc disseminated sulfide orebody, with further holes planned for drilling in this area.”

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