Blackstone’s King Cobra bites again with massive sulphide hit
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Special Report: Blackstone has intersected massive sulphide mineralisation within the broader disseminated nickel sulphide mineralisation at the King Cobra discovery.
The discovery of massive sulphides is no doubt encouraging for the company as it indicates that the already high-grade results that it has received from the shallow, disseminated nickel sulphide within the King Cobra zone could improve.
Recent significant results include 39m at 1.1 per cent nickel from surface and 28m at 1.2 per cent nickel from a depth of 7.3m.
Blackstone Minerals’ (ASX:BSX) drilling has now defined the King Cobra zone over 200m of strike and the discovery remains open down dip and along strike to the northwest and southeast.
This offers the potential for Blackstone to further grow the size of the discovery.
The company previously noted that King Cobra could be a “highly economic” starter pit for its Ta Khoa nickel project in Vietnam.
It is also progressing an initial scoping study evaluating mining and processing options, including potential in-country downstream processing to deliver high-value nickel sulphide into Asia’s rapidly-developing electric vehicle industry.
“Blackstone is pleased to announce drilling at the King Cobra discovery has intersected massive sulphide nickel within the broader disseminated nickel sulphide mineralisation,” managing director Scott Williamson said.
“This is the most significant intersection of MSV within the Ban Phuc deposit outside of the known (and previously mined) Ban Phuc MSV.
“The King Cobra discovery is looking increasingly likely to significantly improve the economics of a restart of the Ta Khoa nickel-PGE project.”
Ta Khoa is about 160km west of Hanoi in Vietnam and includes the Ban Phuc nickel mine featuring a 450,000-tonne-per-annum concentrator that was built to Australian standards and is expected to require little work to bring online.
Ban Phuc was operated as a mechanised underground nickel mine from 2013 to 2016 and generated $US213m ($310.9m) in revenue during this period of falling nickel prices.
>> Now watch: 90 Seconds With… Scott Williamson, Blackstone Minerals