Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

October 10, 2007 08:00 ET

Blackstone Ventures Inc.: 9.9 Metres Grading 2.28% Nickel Intersected at the Lainjaur Nickel Deposit, Sweden-Zone Extended on Strike and Down Dip

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to announce that recent drilling has extended the high grade nickel zone on its Lainjaur Nickel Project in Sweden, to 100 metres along strike and 500 metres down dip. This particular ore zone continues to be open in all directions. Of special significance is hole LAI07-15 which intersected 9.9 metres grading 2.28% Ni, 0.61% Cu and 0.17% Co. The holes reported in this release are thought to represent close to true width.



Recent results include:

Hole No. From To L(m) % Ni % Cu % Co
---------- ------ ------ ----- ----- ----- -----
LAI07-10(i) 138.75 175.65 36.9 0.54 0.31 0.03
includes 17.0 1.04 0.55 0.06
includes 7.65 2.10 1.01 0.10
LAI07-11A 172.75 174.45 1.70 1.30 0.45 0.06
LAI07-12 194.4 222.6 28.2 0.24 0.21 0.02
includes 6.9 0.47 0.33 0.04
LAI07-13 Assays pending
LAI07-14A 215.9 221.1 5.2 2.64 1.01 0.13
LAI07-15 277.35 287.25 9.9 2.28 0.61 0.17
includes 2.45 3.05 0.7 0.24

(i) final assays for intersection reported in press release dated
Sept 11, 2007


A drill section and plan map is attached as an appendix to this release for reference (to view drill section and plan map please click on the following link: http://www.ccnmatthews.com/docs/BLV1010.pdf).

Dean MacEachern, Chief Operating Officer of Blackstone, stated, "The high grades of nickel and copper, the continuous nature of the mineralization and the increasing grade and thickness gives us confidence we are drilling a significant nickel-copper deposit. Holes 5, 10, 14 and 15 have all hit massive sulphide mineralization in excess of 5 metres in thickness and averaging more than 2% Ni and 1% Cu. With each significant intersection encountered we're confident in our geologic model for the Lainjaur deposit and as such we are expanding the drilling program as quickly as possible to test for an overall perspective for the size of the system.

Two drills are currently on site. One is continuing to complete step out holes on the west conductor while the second is currently testing the east and feeder conductors. The Company has no reason to believe that these additional conductors are any different than the mineralization associated with the west conductor however it will only be certain by drill testing the targets. Management is planning to reassign one of the drills currently working on the Lappvattnet project to expedite the delineation of this new ore zone. Ground conditions are wet this time of year and further drilling may have to wait until frozen winter conditions exist."

The Lainjaur nickel deposit is hosted within a mafic gabbroic intrusive. Massive and semi-massive mineralization is typically located at the stratigraphic base (or bottom) of the intrusive. It commonly has lower grade disseminated halo of nickel-copper mineralization around the massive sulphide. An example of this disseminated type of mineralization is seen in hole LAI07-012. Due to the higher grades found in the massive sulphide portions of the intersections, and the slower than expected turn around times for assay sample analysis, the geological team is concentrating on sampling and shipping the more massive and semi-massive portions of the mineralization for rush analysis. Bore hole and ground based electromagnetic surveys are being completed on select drill holes in order to help direct drilling efforts.

Drill core is logged and mineralized intervals are split on site in Sweden, with split samples being shipped to ALS Chemex Laboratories in Sweden for sample prep with pulps being shipped to Canada for analysis. A system of using check assays, duplicates and standards has been implemented for quality control purposes. Base metals (Ni, Cu and Co) are analyzed utilizing an ICP fusion method whereas Pt, Pd and Au are analyzed using a 30g sample with an ICP and fire assay finish. The exploration program is carried out under the direction of Paul Nagerl, P. Geo., Vice President of Exploration for Blackstone and a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Dean MacEachern, P. Geo., Chief Operating Officer for Blackstone, a qualified person as defined by National Instrument 43-101.

For further information on each project area visit the Blackstone website at http://blv.ca.

On behalf of Blackstone Ventures Inc.

Donald A. McInnes, 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.

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

Contact Information

  • Blackstone Ventures Inc.
    Troy Winsor
    1-800-663-8072
    or
    Blackstone Ventures Inc.
    Robert Carriere
    (604) 687-3929
    Website: www.blv.ca