Drilling kicks off at Blackstone Minerals’ cobalt-gold play

By Justin Ware. Published at Apr 26, 2018, in Small Caps

Blackstone Minerals (ASX:BSX) has today informed the market that is has commenced drilling at its 100% owned high-grade Little Gem Cobalt-Gold Project in British Columbia, Canada.

BSX plans to drill six diamond drill holes initially to test the original ~300m strike target zone at Little Gem, before looking to explore a 1km+ strike extension to the east and 500m+ extension to the west.

Blackstone Minerals commences drilling at Little Gem in BC, Canada.

BSX’s maiden drilling program at Little Gem didn’t kick off until late in the 2017 field season, which meant only one diamond drill hole was completed before inclement weather halted activities.

Although the drill hole confirmed historic drilling and sampling results, it only tested the upper portion of the alteration zone and ceased halfway (due to mechanical issues) through the mineralised target. As a result, BSX is yet to test the full potential of cobalt and gold mineralisation at the site.

The successful drill hole intersected the massive, semi-massive and disseminated mineralisation with notable results including 1.1m at 3% cobalt and 44g/t gold, within 4.3m at 1% cobalt and 15g/t gold.

However, it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.

The below map indicates exactly where the Little Gem project is situated within British Columbia.

BSX Managing Director Scott Williamson spoke on the development: “We look forward to the first assay results to be reported over the coming weeks, shareholders can expect more consistent news flow throughout the drill season as we explore the full potential of the Little Gem Cobalt-Gold project.”

About the Little Gem Cobalt-Gold Project

The Little Gem Project was discovered in the 1930s by prospectors. As shown below the project is located less than 15km along strike from the Bralorne-Pioneer mining complex, which is one of Canada’s most prominent gold producers (endowment of 4.4 Moz at 17 g/t gold).

A total of 1,268m of drilling was completed from various work, with results from the initial work generating exceptional assays, including historic drilling:

  • 1.8m at 2.4% cobalt and 112 g/t gold
  • 3.3m at 1.4% cobalt and 12 g/t gold; and
  • 4.1m at 1.4% cobalt and 11 g/t gold

Underground channel sampling:

  • 1.8m at 4.4% cobalt and 73 g/t gold; and
  • 2.0m at 3.1% cobalt and 76 g/t gold

Surface channel sampling:

  • 0.4m at 5.7% cobalt and 1,574 g/t gold; and
  • 0.1m at 4.6% cobalt and 800 g/t gold

Little Gem has undergone very little modern day exploration, with the most notable activities being an airborne geophysical survey in the 1970s and a further two drill holes completed in 1986. ­Cobalt contributes up to 60% of the value of lithium ion batteries, which is projected to become the world’s most significant source of power with the introduction of electric vehicles. Bloomberg forecasts 35% of vehicles sold by 2040 will be electric.



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!