Blackstone Minerals Identifies New High-Grade Copper-Gold Targets at Mankayan
Blackstone Minerals (ASX: BSX) has continued to enjoy early exploration success at its world-class Mankayan copper-gold porphyry deposit in the Philippines, identifying a number of surface copper and gold mineralisation targets in the lead-up to a new drilling campaign at the project.
Blackstone uncovered the new areas during a data review by its technical team, which identified rock chip samples assaying up to 6 grams per tonne gold and 1.9% copper.
The historical samples came from an area immediately to the north and east of the Mankayan deposit.
Comprehensive Mapping
“The discovery of high-grade surface copper and gold mineralisation immediately adjacent to what is already a globally significant ore body, reaffirms Blackstone’s commitment to focus on unlocking the full exploration potential of this project,” managing director Scott Williamson said.
With the company’s merger with IDM complete and $22.6 million successfully raised, Mr Williamson said Blackstone was well-positioned to realise Mankayan’s full potential
“We look forward to hitting the ground running and commencing a range of exploration programs designed to extend the current known mineralisation at Mankayan and explore for new discoveries in this world-class, highly sought-after district.”
“We are confident that our continued exploration efforts at Mankayan will not only add significant value to the project but also deliver long-term benefits to our shareholders and the local communities as we continue to advance this exceptional asset.”
Pro-Mining Environment
Mr Williams added that Mankayan benefits from its location in the Philippines, which currently enjoys a pro-mining regulatory environment and a long-standing history of successful mining operations.
“Importantly, there has been material progress with respect to our social license to operate in Mankayan, ensuring positive relationships with local stakeholders.”
The Philippines’ openness to mining operations, combined with a skilled workforce and existing infrastructure, provides a strong foundation for the project’s development.”