Blackstone Mobilizes Diamond Drill Rig to Norbotten Copper-Gold Project to Test Anomaly
August 18 2009 - 8:00AM
Marketwired
Blackstone Ventures Inc. (TSX VENTURE: BLV) announces that a
diamond drill rig has now been mobilized to its 100% owned
Norbotten Iron Oxide-Copper-Gold (IOCG) project in northern Sweden
and will begin drilling immediately. The drill will begin testing
the Induced Polarization (IP) chargeability anomaly that was
recently outlined in the vicinity of the Vesa copper gold showing
and reported in a press release dated July 28, 2009.
Results from the IP survey indicate there are two well developed
IP chargeability anomalies which have been outlined. The first
anomaly extends for a minimum of 1,400 metres and is coincident
with the recently discovered Vesa copper gold showing. Blackstone
assays from this showing returned 2.4% Cu, 0.63 g/t Au, and 36.9%
Fe. Diamond drilling will begin on this anomaly with the first two
holes to be drilled under the Vesa showing. This next phase work of
will comprise 750 to 1,000 metres of drilling to be completed in 5
to 7 drill holes.
The second anomaly is located to the northwest of the Vesa
showing and may represent a northerly faulted extension of the
anomaly associated with the Vesa showing. This second anomaly is at
least 1,600 metres in strike length. Both anomalies are open to
extension along strike.
The Norbotten project area is almost entirely till-covered which
has hampered historical exploration efforts. The project has not
been drill-tested. The project is located in the eastern part of
the world-class Kiruna district of northern Sweden just 70
kilometres east of Boliden's giant Aitik Cu-Au Mine (proven
reserves at January 1, 2007 of 526 million tonnes @ 0.28% Cu, 0.2
g/t Au, 2 g/t Ag). The Aitik Cu-Au mine is one of the largest
copper producers in Europe having produced 173,000 tonnes of copper
in 2008. The deposit also contains significant gold and silver
byproducts.
Exploration programs are being carried out under the direction
of Jari Paakki, P. Geo., Vice President of Exploration and Project
Development for Blackstone and a qualified person as defined by
National Instrument (NI) 43-101. The information in this release
was prepared under the direction of Dean MacEachern, P.Geo.,
President and Chief Executive Officer for Blackstone, a qualified
person as defined by NI 43-101.
About Blackstone
Blackstone is a mineral exploration company currently focused on
base and precious metals in Scandinavia. In addition to the
Norbotten project, the Company plans exploration programs at the
high grade Cu-Zn-Pb Uma discovery in northwestern Sweden.
Blackstone's primary assets are extensive nickel-copper holdings in
Sweden and Norway including six deposits with current NI
43-101-compliant resources.
On behalf of Blackstone Ventures Inc.
Dean MacEachern, President
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Blackstone Ventures Inc. Investor Relations
604-687-3929 www.blv.ca