Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

April 19, 2010 08:00 ET

Blackstone Completes First Phase Drilling at Uma Cu-Zn-Au Project in Northern Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2010) - Blackstone Ventures Inc. (TSX VENTURE:BLV) reports that it has completed twelve short diamond drill holes totaling 1,650 metres at its Uma Cu-Zn-Au volcanogenic massive sulphide (VMS) project in northern Sweden. Drilling focused on two target areas within the 2,350 square kilometre property. At Uma North, drilling tested electromagnetic (EM) geophysical anomalies adjacent to a boulder field of high-grade massive sulphides assaying as high as 6.64% Cu, 20.9% Zn, 16.75% Pb, 87gpt Ag and 0.54gpt Au ("Suitcase boulders"). At Uma South, drilling targeted EM anomalies proximal to high-grade surface showings with 1950's drill intercepts by Boliden up to10.1% Cu, 21.7% Zn, 8.2% Pb and 12gpt Au over 0.82 metres.

Results of four drill holes at Uma North indicate the source of the high-grade Suitcase boulder field remains undiscovered. The tested EM anomalies immediately up-ice of the Suitcase boulders are attributed to Fe sulphide (pyrrhotite) mineralization. Further airborne and detailed ground geophysics is planned at Uma North to source the high-grade boulders. At Uma South, four of eight drill holes testing EM anomalies encountered weak base metal mineralization within narrow massive sulphides and as disseminations. Extensive Mg and Fe alteration assemblages (chloritoid, chlorite and Fe-carbonate) typical of proximal VMS alteration were cut in footwall rocks at the western of the three showings. At least ten priority EM anomalies remain untested at Uma South. All assays are pending. A second phase drill program is planned for this summer at the Uma project.

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. The Company is actively pursuing exploration programs at Uma as well as its Norbotten Iron Oxide-Copper-Gold (IOCG) project in northeastern Sweden. Blackstone's primary assets are extensive nickel-copper holdings in Sweden and Norway including six deposits with current NI 43-101-compliant resources.

For further information on Blackstone please visit the Blackstone website at www.blv.ca.

On behalf of Blackstone Ventures Inc.
 "Dean MacEachern"
 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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