Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

April 21, 2008 08:00 ET

Blackstone Continues to Expand Ertelia Nickel-Copper Deposit in Norway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to report results of recent diamond drilling at the Ertelia Mine prospect in south-central Norway. On-going drilling continues to expand the nickel-copper deposit which now extends over a strike length of 500 metres and a distance of 700 metres down-plunge. Two drills are currently on site.

Assay results received at this time are listed in the table below and represent Footwall Zone and Main Zone mineralization. Hole ER07-39 represents Main Zone mineralization whereas holes ER07-35, ER08-41 and 46 represent Footwall Zone mineralization. Assay results are pending for 7 additional mineralized holes.



Recent assay results from Ertelia:

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Length
Hole ID From (m) To (m) (m) %Ni %Cu %Co
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ER07-35 449.00 452.75 3.75 0.97 0.32 0.07
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ER07-39 114.38 118.90 3.92 0.69 0.72 0.30
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122.00 125.50 2.50 0.71 1.12 0.06
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ER07-40 no significant results
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ER08-41 48.20 51.95 3.75 0.95 0.61 0.07
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ER08-46 246.00 252.50 6.50 0.72 0.81 0.09
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255.50 257.50 2.00 0.63 0.40 0.11
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276.70 277.10 0.40 1.10 0.33 0.06
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Recent Exploration

Blackstone has completed 58 drill holes to date at Ertelia testing grade and continuity of mineralization below historic mine workings. Two moderately plunging mineralized zones, the Main Zone and an underlying Footwall Zone have been defined. The two zones are approximately 50 to 100 metres apart within basal portions of the Ertelia Gabbro. The more significant Main Zone contains a thickened core of sulphide mineralization ranging from 8 to 20 metres thick (core lengths). A recently completed drill hole ER08-49, which cut 12.4 metres of massive and semi-massive sulphide, has extended thick Main Zone mineralization to a distance of 700 metres down-plunge, 250 metres beyond that previously drilled by Blackstone. Assays are pending for ER08-49. A longitudinal drill section is appended to this release.

CEO Dean MacEachern commented, "Ertelia continues to grow with almost every drill hole and it remains completely open to depth. Additionally there is room to extend the mineralization to the north at shallow levels. We've significantly expanded the deposit in the first quarter of 2008 and it appears we are starting to define a potentially sizeable sulphide deposit here."

Blackstone plans to delineate the extent of the Ertelia deposit in the first half of 2008 with plans to complete a NI 43-101 mineral resource estimate later in 2008.

Ertelia Mine Prospect

The historic Ertelia Mine is reported to have (i)400,000 tonnes of production grading 1.04% Ni, 0.69% Cu and 0.17% Co. Previously reported results from Blackstone drilling at Ertelia include drill intersections of up to 12.15 metres grading 1.46% Cu, 0.64% Ni and earlier results including 19.9 metres grading 1.90% Ni and 1.76% Cu (see Press Release February 7, 2008).

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 National Instrument 43-101.

(i) This historical resource has been obtained from the Norwegian Geological Survey and is non-compliant with NI 43-101. Blackstone is not treating the historical estimate as a current mineral resource or reserve. Blackstone reasonably believes that this estimate is relevant, but Blackstone has not undertaken an independent investigation of the resource estimate nor has it independently analyzed the results of the previous exploration work in order to verify the resource, and therefore the historical estimate should not be relied upon.

Blackstone

Blackstone is a mineral exploration company focused on nickel and other base metals. In addition to the Lainjaur nickel deposit and Vasterbotten nickel district targets in Sweden, and the Espedalen project in Norway, the Ertelia nickel target is one of four advanced Scandinavian nickel projects the Company intends to focus in 2008. Work programs are also scheduled at the high grade Cu-Zn-Pb Uma and Jervas discoveries in Sweden.

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.

To view the Ertelia Nickel Project Longitudinal Section map please click on the following link: http://media3.marketwire.com/docs/blvmap421.pdf.

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