Visible Gold Boosts Blackstone Minerals’ Project

Blackstone Minerals (ASX: BSX) announced the discovery of visible gold at its Mankayan Copper-Gold Project in the Philippines, located near the Lepanto gold mine. The gold was found in a diamond drillhole (CDH-62) above the main copper-gold porphyry system, within volcanic units that have been historically overlooked for assaying. The angled drill orientation increases the chance of intersecting vertically oriented mineralization. Blackstone is currently undergoing a merger with IDM International, which owns the Mankayan project. Managing Director Scott Williamson expressed enthusiasm about the discovery, highlighting the potential to unlock the project’s full potential. The merger with IDM aims to leverage combined expertise to develop the high-grade copper-gold asset. The Mankayan project also benefits from its location in the Philippines, a country with a pro-mining regulatory environment. IDM has already secured a renewed 25-year mining license and a historic agreement with the local Indigenous People, securing a social license to operate. Historical drill intercepts at Mankayan include significant widths and grades such as 911m @ 1.00% CuEq and 543m @ 1.08% CuEq. Blackstone intends to apply its experience from the Ta Khoa Nickel Project to improve operational efficiency at Mankayan. Recent drilling by IDM included two 1,000-meter diamond drill holes, with assay results pending, aimed at geotechnical and metallurgical testing.