Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

February 25, 2008 08:00 ET

Blackstone Extends Mineralization at Lainjaur Nickel Deposit

Assays include 2.13% Ni, 0.62% Cu, 0.10% Co over 2.1 metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2008) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to report that on-going drilling at the Lainjaur Nickel Deposit in Sweden has extended mineralization to over 700 metres down dip of the past-producing Lainjaur Mine.

Recent Drill Results

A total of 29 drill holes have been completed since Blackstone started drilling the deposit in January 2007 with assay results received from 21 holes. Results from drill holes LAI-07-03 to LAI-07-15 were previously reported in press releases dated October 10, 2007 and September 12, 2007 (including a 9.9 metre intersection grading 2.28% Ni, 0.61% Cu and 0.17% Co). Reported in this press release is data for drill holes LAI-07-16 to 24. Assays are pending for drill holes LAI-07-25 to LAI-08-32. A drill hole location map and a summary table of results to date are attached (to view the drill hole location map please click on the following link: http://media3.marketwire.com/docs/0225blv.pdf).

Highlights from recent drill results include:



LAI07-17 2.13% Ni, 0.62% Cu, 0.10% Co over 2.1 metres
LAI07-22 0.41% Ni, 0.21% Cu, 0.02% Co over 6.16 metres
includes 1.07% Ni, 0.47% Cu, 0.05% Co over 1.69 metres


Drilling continues to demonstrate very good continuity of this shallow-dipping deposit which remains open at depth. The mineralized corridor consists of basal accumulation of massive sulphides ranging from less than 0.5 to 9.9 metres and an overlying halo of disseminated sulphides. The northernmost hole drilled to date, LAI-08-28, further cut an upper, shallower zone of massive sulphide mineralization.

Winter 2008 Exploration

Two drill rigs are currently on-site delineating this deposit to take advantage of the winter conditions. A borehole geophysical crew will mobilize to the site in the near future to downhole survey these recently completed drill holes. Information gathered from that survey will better aid the company in directing its exploration drilling towards thicker pods of massive sulphide. The Company plans to outline a preliminary resource on the project in 2008.

Dean MacEachern, COO of Blackstone, comments, "In addition to the Vasterbotten nickel assets in Sweden, and the Ertelien and Espedalen projects in Norway, Lainjaur is one of four advanced Scandinavian nickel projects the Company intends to focus on in 2008. With work programs also scheduled at the high grade Cu-Zn-Pb discoveries in Sweden, 2008 promises to be a very exciting year."

The exploration program is being carried out under the direction of Jari Paakki, P. Geo., Vice President of 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., Chief Operating Officer for Blackstone, a qualified person as defined by National Instrument 43-101.

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.



Summary of drill results to date at the Lainjaur Nickel Deposit

----------------------------------------------------------------
Hole No. From To Length (m) Ni% Cu% Co%
----------------------------------------------------------------
LAI-07-03 187.00 199.10 12.10 1.03 0.35 0.04
Includes 194.00 199.10 5.10 2.06 0.48 0.07
----------------------------------------------------------------
LAI-07-04 251.30 254.75 3.45 0.77 0.46 0.02
Includes 253.95 254.75 0.80 1.74 0.38 0.05
----------------------------------------------------------------
LAI-07-05 321.80 322.33 0.53 1.98 0.28 0.09
----------------------------------------------------------------
LAI-07-06 411.50 413.00 1.50 0.33 0.23 0.02
----------------------------------------------------------------
LAI-07-08 110.02 110.70 0.68 0.31 0.02 0.03
----------------------------------------------------------------
LAI-07-09 139.57 170.76 31.19 0.28 0.24 0.02
Includes 167.93 168.71 0.78 1.10 0.40 0.03
----------------------------------------------------------------
LAI-07-10 167.44 175.65 8.21 1.97 1.01 0.10
Includes 168.00 171.38 3.38 2.74 0.65 0.13
----------------------------------------------------------------
LAI-07-11 172.75 174.45 1.70 1.31 0.46 0.06
----------------------------------------------------------------
LAI-07-12 216.95 221.60 4.65 0.58 0.38 0.05
Includes 220.60 221.00 0.40 2.11 1.08 0.20
----------------------------------------------------------------
LAI-07-13 217.44 218.64 1.20 1.68 0.46 0.02
----------------------------------------------------------------
LAI-07-14 215.90 221.08 5.18 2.64 1.06 0.13
----------------------------------------------------------------
LAI-07-15 271.46 287.23 15.77 1.56 0.45 0.13
----------------------------------------------------------------
Includes 277.35 287.23 9.88 2.28 0.61 0.17
----------------------------------------------------------------
LAI-07-16 168.90 169.50 0.60 0.49 0.05 0.07
----------------------------------------------------------------
LAI-07-17 211.65 213.75 2.10 2.13 0.62 0.10
----------------------------------------------------------------
LAI-07-20 292.20 293.00 0.80 0.21 0.12 0.01
----------------------------------------------------------------
LAI-07-22 206.50 212.66 6.16 0.41 0.21 0.02
----------------------------------------------------------------
Includes 210.97 212.66 1.69 1.07 0.47 0.05
----------------------------------------------------------------
LAI-07-23 218.05 218.40 0.35 1.82 0.25 0.22
----------------------------------------------------------------
LAI-07-24 408.38 408.58 0.30 0.81 0.21 0.02
----------------------------------------------------------------


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