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- Resource definition drilling at King Snake Massive Sulfide Vein deposit confirms continuity and high grades (up to 4.3% Ni and 18.2 g/t PGE¹)
- Strong nickel and Copper drill results returned from the Suoi Phang Massive Sulfide Vein target
Blackstone has received assays for the most recent campaign of resource definition drilling at the King Snake Massive Sulfide Vein (MSV) Deposit, confirming the continuity and extents of the high-grade massive sulfide core and demonstrating the presence of an associated ultramafic dyke with disseminated Ni-Cu-PGE sulfide mineralisation. The King Snake deposit remain open down plunge to the west (refer Image 1 and Figure 2).
Highlights from resource definition drilling at King Snake include:
| KS22-05 | 6.2m @ 0.73% Ni, 0.89% Cu, 0.02% Co & 3.32g/t PGE from 191.8m,including; 0.7m @ 1.11% Ni, 4.73%Cu, 0.05% Co & 18.2g/tPGE from 192.65m |
| KS22-15 | 2.35m @ 2.09% Ni, 0.9% Cu, 0.08% Co & 1.77g/t PGE from313.65 |
| KS22-21 | 6.3m @ 0.85%Ni, 0.41% Cu, 0.03% Co & 1.12g/tPGE from 70m,including; 0.8m @ 4.31% Ni, 1.11% Cu, 0.16% Co & 2.09g/t PGE from74.65m |
| KS22-22 | 2.85m @ 0.95%Ni, 0.56% Cu, 0.04% Co & 2.1g/tPGE from 106.35m, including; 0.68m @ 3.48% Ni, 1.21%Cu, 0.14% Co & 8.31g/tPGE from 106.77m |
| KS22-27 | 9.35m @ 0.93%Ni, 0.46% Cu, 0.04% Co & 0.62g/tPGE from 65.6m,including; 1.95m @ 3.96% Ni, 1.23%Cu, 0.15% Co & 1.99g/tPGE from73m |
Success from the first drill hole at Suoi Phang:
| SP22-01 | 2.95m@ 2.42% Ni, 0.52% Cu, 0.06% Co & 0.05g/tPGE from37.05m |
The King Snake Ni-Cu-Co-PGE sulfide deposit is located approximately 1km north of the Ban Phuc disseminated nickel sulfide deposit and immediately south of the Ban Khoa disseminated sulfide deposit (refer Figure 3). King Snake is a magmatic massive sulfide and sulfide matrix breccia vein associated with an ultramafic dyke system intruding calcareous sedimentary rocks and quartz-mica schists of the Ban Phuc horizon. A halo of Ni-Cu-Co-PGE sulfide stringer veins are widely present in the sedimentary wall rocks around the King Snake MSV and the associated ultramafic dykes, commonly carry disseminated to net- textured Ni-Cu-Co-PGE sulfides. The King Snake MSV and ultramafic dyke system is closely comparable with the adjacent Ban Phuc MSV mined by Ban Phuc Nickel Mines during the 2013 to 2016 period and processed at the Ban Phuc concentrator which is currently being used by Blackstone to batch test material from the Ban Phuc disseminated nickel sulfide deposit.
The current mineral resource for King Snake is 0.43 Mt at 1.3% Ni (2.4% NiEq) and was based on information up to and including drill hole KS21-26 (Oct 2021). The King Snake MSV plunges moderately (c. 30 degrees) to the west and remains open down plunge c. >300m beneath surface. Blackstone's exploration and resource definition drill targeting of the King Snake MSV and ultramafic dyke system has been greatly assisted by the use of surface fixed loop and down hole Electro Magnetic (“EM”) survey work. Ground conditions have proved well suited to the use of EM and the Company expects to take advantage of this technology for future drill targeting.
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