- Blackstone Minerals (BSX) is preparing to begin drilling at the Chim Van nickel target in Vietnam
- The program is part of a collaboration with the General Department of Geology and Minerals of Vietnam to find new nickel opportunities outside Blackstone’s Ta Khoa project
- Chim Van is 10 kilometres from the company’s Ban Phuc open pit deposit and features a large magnetic anomaly
- Drilling will test the Chim Van target for nickel-copper-PGE sulphides, and if successful, Blackstone will proceed to secure an exploration licence
- BSX shares were down 1.35 per cent at 36.5 cents
Blackstone Minerals (BSX) has been given the green light to commence drilling at the Chim Van nickel target in Vietnam.
The drilling effort is part of a collaboration with the General Department of Geology and Minerals of Vietnam (GDGMV) entered in October 2021.
Blackstone’s 90 per cent-owned subsidiary, Ban Phuc Nickel Mines, partnered with the GDGMV to identify new nickel opportunities outside of the company’s Ta Khoa nickel-copper-platinum group element (PGE) district tenement holdings in northern Vietnam.
The initial work included geophysics exploration to advance the Chim Van target which is located just 10 kilometres from Blackstone’s Ban Phuc open pit deposit.
The Chim Van target is said to be highly prospective for nickel and geophysical modelling suggested the target features a large magnetic anomaly which may indicate presence of an ultramafic-mafic intrusion similar to the Ban Phuc deposit.
With initial exploration completed, the company is now mobilising a drill rig to the site to commence the first priority drill hole.
Drilling is designed to test the Chim Van target for nickel-copper-PGE sulphides, and if successful, Blackstone will proceed to secure an exploration licence.
Blackstone Managing Director Scott Williamson said the company is pleased with the ongoing collaboration with the GDGMV.
“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,” he said. “We are excited for the potential that Chim Van has to feed into our longer-term growth profile.”
BSX shares were down 1.35 per cent at 36.5 cents at 10.06am AEST.