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Explorer Blackstone Minerals has identified significant 1km long copper, gold and cobalt targets at its Little Gem project in Canada.

Results from a cobalt-focused IP survey identified multiple new large-scale targets at the Jewel prospect—a very high-grade historic mine which produced at average grades of 73 g/t gold and 8g/t silver in the 1930s.

IP is a geophysical imaging technique used to identify subsurface minerals, which can return a huge IP signature.

Historic surface sampling at Jewel returned high grade assays up to 243 g/t gold and 19.2% copper, but it has never been drill tested.

Blackstone said it will now drill these new high-quality IP anomalies as a priority.

“Our field work indicates Jewel is associated with anomalous cobalt mineralisation, and with the recent Erebor cobalt-gold discovery nearby the Little Gem project is shaping up to be a world class Cobalt district,” Blackstone said.

Blackstone's (ASX:BSX) IP survey identified large-scale targets at the Jewel copper-gold-cobalt prospect.
Blackstone’s (ASX:BSX) IP survey identified large-scale targets at the Jewel copper-gold-cobalt prospect.

Cobalt is usually found with copper or nickel, which makes Little Gem quite unique.

Blackstone had about $3 million in the bank at the end of June. It’s share price, which has traded between 10c and 65c over the past year, currently sits at 16c.