Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

April 30, 2008 08:00 ET

Blackstone Drills High-Grade Nickel and Precious Metals at Lainjaur Nickel Deposit, Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to announce that recent diamond drilling at the Lainjaur nickel deposit in Sweden has intersected massive and semi-massive sulphide mineralization assaying up to 5.06% Ni and 14.14 grams per tonne (gpt) total precious metals (Au + Pt + Pd).

Recent Drill Results

A total of 41 drill holes have been completed since January 2007 when Blackstone first began testing the down-plunge extension of the past-producing Lainjaur nickel mine. Results have now been received from drill holes up to LAI-07-36. Highlights from drill results not previously reported are provided in the table below. Assays are pending for the five remaining drill holes LAI-08-37 to LAI-08-41. A drill hole location map, drill section and a summary table of results to date are appended to this release.

Highlights from recently reported drill results include:



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Length
Hole No. From To (m) Ni % Cu % Co % Au gpt Pt gpt Pd gpt
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LAI-08-30 336.20 345.85 9.65 0.47 0.84 0.04 1.22 - -
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includes 341.64 344.15 2.51 0.37 1.41 0.07 4.41 - -
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and 345.30 345.85 0.55 2.33 0.38 0.10 0.04 - -
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LAI-08-31 517.13 522.30 5.17 0.42 0.31 0.05 0.45 - -
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includes 521.70 522.30 0.60 1.97 1.74 0.34 3.45 - -
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LAI-08-33 337.90 341.24 3.34 1.38 0.29 0.25 0.81 - 0.12
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includes 339.50 340.25 0.75 5.06 0.43 1.03 3.40 - 0.52
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LAI-08-34 556.80 561.15 4.35 1.13 0.37 0.05 0.50 0.41 1.41
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includes 558.30 561.15 2.85 1.63 0.51 0.07 0.76 0.62 2.56
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includes 559.70 561.15 1.45 2.76 0.06 0.12 1.39 1.21 4.24
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includes 559.70 560.40 0.70 2.89 0.03 0.13 2.86 2.51 8.77
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CEO for Blackstone, Dean MacEachern comments, "Our drill program at Lainjaur has been successful in extending the nickel sulphide deposit more than 700 metres down-plunge of historic workings. In addition to very good nickel grades, we also have significant contained gold, platinum and palladium which are certainly value-added to any nickel deposit."

Blackstone plans to outline a preliminary NI 43-101 resource at Lainjaur with the drilling completed to date. An independent consultant has been arranged for the resource estimate.

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.

Blackstone

Blackstone is a mineral exploration company focused on nickel and other base metals. In addition to the Lainjuar and Vasterbotten programs in Sweden, the Company is aggressively drilling the Ertelien and Espedalen projects in Norway. Work programs are also scheduled at the high grade Cu-Zn-Pb Uma and Jervas discoveries, and the newly acquired Norbotten Cu-Au project 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.

Summary of drill results to date at the Lainjaur Nickel Deposit



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Hole No. From To Length (m) Ni % Cu % Co %
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LAI-07-03 187.00 199.10 12.10 1.03 0.35 0.04
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includes 194.00 199.10 5.10 2.06 0.48 0.07
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LAI-07-04 251.30 254.75 3.45 0.77 0.46 0.02
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includes 253.95 254.75 0.80 1.74 0.38 0.05
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LAI-07-05 321.80 322.33 0.53 1.98 0.28 0.09
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LAI-07-06 411.50 413.00 1.50 0.33 0.23 0.02
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LAI-07-08 110.02 110.70 0.68 0.31 0.02 0.03
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LAI-07-09 139.57 170.76 31.19 0.28 0.24 0.02
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includes 167.93 168.71 0.78 1.10 0.40 0.03
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LAI-07-10 167.44 175.65 8.21 1.97 1.01 0.10
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includes 168.00 171.38 3.38 2.74 0.65 0.13
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LAI-07-11 172.75 174.45 1.70 1.31 0.46 0.06
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LAI-07-12 216.95 221.60 4.65 0.58 0.38 0.05
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includes 220.60 221.00 0.40 2.11 1.08 0.20
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LAI-07-13 217.44 218.64 1.20 1.68 0.46 0.02
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LAI-07-14 215.90 221.08 5.18 2.64 1.06 0.13
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LAI-07-15 277.35 287.23 9.88 2.28 0.61 0.17
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LAI-07-16 168.90 169.50 0.60 0.49 0.05 0.07
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LAI-07-17 211.65 213.75 2.10 2.13 0.62 0.10
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LAI-07-20 292.20 293.00 0.80 0.21 0.12 0.01
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LAI-07-22 211.70 212.66 0.96 1.70 0.64 0.08
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LAI-07-23 218.05 218.40 0.35 1.82 0.25 0.22
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LAI-07-24 408.38 408.58 0.20 0.81 0.21 0.02
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LAI-08-28 555.33 557.88 2.55 0.21 0.12 0.14
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LAI-08-29 280.98 282.00 1.02 0.95 0.55 0.17
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LAI-08-30 336.20 345.85 9.65 0.47 0.84 0.04
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includes 341.64 344.15 2.51 0.37 1.41 0.07
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and 345.30 345.85 0.55 2.33 0.38 0.10
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LAI-08-31 517.13 522.30 5.17 0.42 0.31 0.05
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includes 521.70 522.30 0.60 1.97 1.74 0.34
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LAI-08-33 337.90 341.24 3.34 1.38 0.29 0.25
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includes 339.50 340.25 0.75 5.06 0.43 1.03
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LAI-08-34 556.80 561.15 4.35 1.13 0.37 0.05
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includes 558.30 561.15 2.85 1.63 0.51 0.07
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includes 559.70 561.15 1.45 2.76 0.06 0.12
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includes 559.70 560.40 0.70 2.89 0.03 0.13
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LAI-08-36 332.80 333.20 0.40 0.89 0.47 0.13
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To view the maps accompanying this release please click on the following link: http://media3.marketwire.com/docs/blvmaps430.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