Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

July 14, 2009 08:00 ET

Blackstone Commences Geophysical Survey at Norbotten Copper-Gold Project in Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2009) - Blackstone Ventures Inc. (TSX VENTURE:BLV) announces today that an Induced Polarization (IP) geophysical survey is underway at its 100% owned Norbotten Iron Oxide-Copper-Gold (IOCG) project in northern Sweden. The project is located in the eastern part of the world-class Kiruna district of northern Sweden just 70 kilometres east of Boliden's giant Aitik Cu-Au Mine (proven reserves at January 1, 2007 of 526 million tonnes @ 0.28% Cu, 0.2g/t Au, 2 g/t Ag). The Aitik Cu-Au Mine is one of the largest copper producers in Europe having produced 173,000 tonnes of copper in 2008. The deposit also contains significant gold and silver byproducts.

The 25 line kilometre IP survey covers part of a regional magnetic and gravity high area which appears associated with recently discovered copper-gold mineralization (Vesa Showing). Blackstone assays from this showing returned 2.4% Cu, 0.63 g/t Au, and 36.9% Fe. Mineralization consists of disseminated, brecciated and veined magnetite, chalcopyrite, pyrite and bornite hosted at the contact of a granite intrusion. The Norbotten project area is almost entirely till-covered which has hampered historical exploration efforts. The project has not been drill-tested.

CEO for Blackstone, Dean MacEachern comments, "Norbotten is an exciting new project for us in a vastly under-explored region in Scandinavia. Our initial exploration work will begin at the Vesa Showing with near-future plans to evaluate several other showings and geophysical anomalies on our 20,000 hectare claim holdings in the region. We look forward to advancing this project with a first phase drill program slated to begin late summer of this year."

Exploration programs are being carried out under the direction of Jari Paakki, P. Geo., Vice President of Exploration and Project Development for Blackstone and a qualified person as defined by National Instrument (NI) 43-101. The information in this release was prepared under the direction of Dean MacEachern, P.Geo., President and Chief Executive Officer for Blackstone, a qualified person as defined by NI 43-101.

About Blackstone

Blackstone is a mineral exploration company currently focused on base and precious metals in Scandinavia. In addition to the Norbotten project, the Company plans exploration programs at the high grade Cu-Zn-Pb Uma discovery in northwestern Sweden. Blackstone's primary assets are extensive nickel-copper holdings in Sweden and Norway including six deposits with current NI 43-101-compliant resources.

On behalf of Blackstone Ventures Inc.

Dean MacEachern, President

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

For further information on Blackstone, please visit the Blackstone website at www.blv.ca or call investor relations at 604-687-3929.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Blackstone Ventures Inc.
    Investor Relations
    604-687-3929
    www.blv.ca