Drilling to Commence at Chim Van

Collaboration with Vietnamese Government Enters Next Phase

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that approvals to commence drilling at the highly prospective Chim Van target have been obtained (refer Figures 1,2 & 3). Having successfully completed the initial phase of collaboration with the General Department of Geology & Minerals of Vietnam (GDGMV), the Company is excited to progress exploration efforts at Chim Van.

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 (refer Figure 1)
• Chim Van features a magnetic anomaly an order of magnitude larger than the Ban Phuc ultramafic intrusion (refer Figures 2 & 3 and ASX announcement 5 October 2021)
• Drill rig currently mobilising to the site to commence the first priority drill hole (refer Figure 1)

Scott Williamson, Blackstone’s Managing Director, said:

“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 Ni-Cu-PGE sulfides, and if successful Blackstone will proceed to take steps to secure an exploration license. 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.”

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