Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

August 09, 2006 17:07 ET

Blackstone Drill Program Intersects Wide Zone of Massive Sulphide at Ertelia On South Norway Projects; Hole ER2006-06B Returns 19.90 Metres Grading 1.90% Ni and 1.76% Cu

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 9, 2006) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to announce that Blackstone and its joint venture partner Sulfidmalm A/S (a wholly owned subsidiary of Falconbridge Limited) have intersected significant new nickel sulphide mineralization at the Ertelien Project in southern Norway. Diamond drill hole ER2006-06B intersected 1.90% Ni, 1.76% Cu, 0.11% Co over 19.90 m starting at a drill depth of 289.95 metres at the Ertelia Zone. All six drill holes completed to date at Ertelia have intersected significant sulphide mineralization. The zone remains open at depth and along strike to the east and west. Drilling is continuing and a larger drill will be mobilized to test the deeper potential of the zone. The current drill program is part of the first systematic exploration program using modern geophysical techniques and diamond drills in the Ertelien area.

The South Norway Option encompasses five large areas (Bamble, Ertelien, Skjaekerdalen, Evje and Hosanger). Since entering into the option from Sulfidmalm in 2005, Blackstone has funded a total of 18,332 line km of airborne magnetics and EM which has been flown at the Bamble, Ertelien, Skjaekerdalen and Evje project areas where 147 conductors have been identified for follow-up, many of which correspond to known mineralized areas. The Ertelia anomaly was identified as one of the high priority targets and occurs in an area where nickel was produced in the late 1800's to the early 1900's.

The first phase of drilling at Ertelia consisted of eight drill holes (1,766 metres of drilling) including two holes lost at shallow depths. Available results of the mineralization intersected in all of the completed holes is tabled appended below (results for holes ER2006-01B and ER2006-02 previously reported).

This initial drill program at Ertelia has intersected sulphides along 200 metres of strike and to a vertical depth of 300 metres in two mineralized zones as interpreted from the drilling.

i.) An Upper Zone of mineralization is hosted by gabbronorite and gneisses within the gabbronorite and intersected in holes ER2006-1B and 02 on L1650N and holes ER2006-05 and 06B on L1750N. This zone is characterized by numerous isolated intervals of semi-massive and massive sulphide mineralization.

ii.) A Footwall Zone is also hosted by gabbronorite and surrounding gneisses at the base of the gabbronorite. This zone is defined by intersections in holes ER2006-03 and 04 on L1550N, hole ER2006-01B on L1650N and hole ER2006-05 on L1750N and includes the newly discovered wider zone of massive sulphide intersected in hole ER2006-06B.

These holes were drilled near the site of the past producing Ertelien Nickel Mine which closed circa 1920. The drill target is a multiple UTEM conductor situated below the historical Ertelien Mine. The property has previously never been subjected to modern exploration techniques such as the UTEM geophysical method.

The mineralization is open to the southeast, northwest and down dip. Follow-up drilling on both of these zones is planned during the remainder of the year.

To view the attached pictures, please click on the following link: http://www.ccnmatthews.com/docs/blv0809.jpg

Donald McInnes, President of Blackstone, stated, "The massive sulphide in hole ER2006-6B represents the second new discovery for Blackstone in Norway and is a very exciting development at the onset of the South Norway Projects highlighting the potential of our Norway projects. It is very important to note that we've intersected significant sulphides in every drill hole that we've completed on the Ertelia target. The success of this initial drill program is excellent. It illustrates clearly that our exploration methodology leads us very quickly to areas with a high potential to discover ore grade mineralization. We have several other target areas within Norway where we are applying a similar methodology. The new discovery at Ertelia will become a focus in order to understand the nature of the mineralization and to delineate its size extent and grade distribution. A second drill is being sourced in order to aid in the expanded drill program to be completed at Ertelia."

Additional targets will also be drilled on the Bamble Project during the summer field program. In particular, once ground geophysical surveys over airborne conductors which occur near old nickel mine workings at Seljasen. These conductors are considered to be significant in that they have considerable strike length (up to 800m in length) with one of the conductors associated with known nickel mineralization and gabbro and ultramafic rock types typically associated with nickel sulphide mineralization.

Drill core is logged and mineralized intervals are split on site in Norway, with split samples being shipped to SGS Lakefield Research in Ontario. A system of using check assays, duplicates and standards has been implemented for quality control purposes. The exploration program is being carried out under the direction of Falconbridge Limited exploration manager Peter Manojlovic, P. Geo., 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 where a series of maps, photographs and images have been posted under Espedalen and South Norway Projects.

On behalf of Blackstone Ventures Inc.

Donald A. McInnes, President

Ertilia Drill Hole Results



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Drill hole From (m) To (m) Length (m) Ni (%) Cu (%) Co (%)

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ER2006-01B 39.82 41.14 1.32 2.25 0.62 0.13
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and 64.40 71.44 7.04 1.12 0.67 0.07
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(incl.) 67.85 71.44 3.59 1.44 0.73 0.09
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and 116.70 121.68 4.98 0.79 0.86 0.05
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ER2006-02 185.46 189.70 4.24 1.25 0.55 0.06
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(incl.) 185.46 189.06 3.60 1.45 0.35 0.07
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ER2006-03 185.65 187.95 2.30 1.29 0.22 0.10
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ER2006-04 181.85 183.09 1.24 1.47 0.98 0.10
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and 192.45 193.05 0.60 1.07 1.32 0.08
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ER2006-05 44.94 46.26 1.32 1.10 0.37 0.09
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and 97.92 106.78 8.86 1.08 0.64 0.08
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(incl.) 103.7 106.78 3.08 1.69 0.59 0.11
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and 200.00 201.00 1.00 0.84 0.92 0.06
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and 207.36 208.70 1.34 1.03 2.31 0.08
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and 209.32 209.62 0.30 0.22 7.00 0.02
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ER2006-06B 26.03 26.78 0.75 1.81 2.06 0.14
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and 281.78 282.80 1.02 0.73 0.27 0.04
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and 285.15 287.15 2.00 0.74 0.59 0.05
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and 289.95 309.85 19.90 1.90 1.76 0.11
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Contact Information

  • Blackstone Ventures Inc.
    Robert Carriere
    Manager, Investor Relations
    (604) 687-3929
    www.blv.ca