Blackstone Minerals (ASX: BSX) has reported further exploration success at its Mankayan copper-gold porphyry deposit in the Philippines. The company’s technical team identified new surface copper and gold mineralisation targets ahead of an upcoming drilling campaign. Blackstone Minerals is focused on developing tier-one assets, positioning itself in base and precious metals. They aim to deliver shareholders maximum value through innovative project development and exploration.
The new areas were identified during a data review and include rock chip samples assaying up to 6 grams per tonne of gold and 1.9% copper. These historical samples were taken from an area immediately to the north and east of the existing Mankayan deposit. The discovery reinforces Blackstone’s commitment to unlocking the exploration potential of the project, according to managing director Scott Williamson.
With the merger with IDM complete and $22.6 million raised, Blackstone is set to commence exploration programs. These programs aim to extend the current known mineralisation at Mankayan and explore for new discoveries. Williamson said that Blackstone is well-positioned to realise Mankayan’s full potential.
Mr. Williamson added that the Philippines’ pro-mining regulatory environment and a history of successful mining operations provide a strong foundation for the project’s development. He noted the company has made material progress in securing its social license to operate in Mankayan, which ensures positive relationships with local stakeholders.
