Blackstone Minerals (ASX: BSX) has announced promising results from its initial drilling program at the Mankayan copper-gold porphyry project in the Philippines, validating the company’s strategic expansion. The company acquired 100% of IDM International, including the Mankayan project, earlier this year. Assay results from the first drill hole revealed over 300 meters of high-grade mineralization at the project’s core.
Managing Director Scott Williamson emphasized Mankayan’s potential as a leading undeveloped copper-gold porphyry project globally. He highlighted the possibility of a low-capex, high-return development strategy, utilizing selective mining methods to minimize upfront capital while maximizing value from high-grade zones. The mineralization system remains open at depth and along strike, suggesting opportunities for future resource expansion.
The Mankayan project is located near the Lepanto gold mine and the Far Southeast project, offering proximity to established mining infrastructure. Blackstone anticipates assays from a second hole, drilled for testing purposes. The company believes a low-capex starter operation could provide strong returns by focusing on the orebody’s high-grade portions.
