Blackstone Ventures Inc.

Blackstone Ventures Inc.

September 12, 2007 11:10 ET

Blackstone Extends Nickel Zone at the Lainjaur Deposit, Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2007) - Blackstone Ventures Inc. (TSX VENTURE:BLV) has extended the down dip extent of the nickel horizon on its Lainjaur Nickel Project in Sweden to over 500 metres. Hole LAI07-010 assayed 1.97%Ni, 1.01% Cu and 0.1% Co over 8.2 metres. The thickness is thought to be close to true width. The hole was drilled 50 metres updip of the discovery hole reported on 02 April 2007 (LAI-07-003: 2.06% Ni and 0.48% Cu over 5.1 metres). The assays reported here for LAI07-010 represent the massive to semi-massive portion of the sulphide zone which is intersected from 167.4 to 175.6m. Assay results are still pending for a 35.4 metre less intensely mineralized zone of disseminated and blebby sulphide that occurs directly above the reported zone.

Hole LAI07-009 was drilled 25 metres west of LAI07-010 and intersected 35.5 metres of 0.26%Ni, 0.23% Cu and 0.02% Co including 1.2 metres of 0.96% Ni, 0.39% Cu and 0.03% Co. The mineralization in this hole is characterized by disseminated and blebby sulphides similar to the upper portion of hole LAI07-010 (132 to 167.4 metres depth).

Recent new results include:

Hole No. From To L(m) % Ni % Cu % Co
-------- ---- -- --- ---- ---- ----
LAI07-09 136.3 171.8 35.5 0.26 0.23 0.02
includes 167.9 168.1 1.2 0.96 0.39 0.03
LAI07-0010 167.4 175.6 8.2 1.97 1.01 0.1
includes 168.0 171.4 3.4 2.74 0.65 0.13

A drill section and plan map is attached as an appendix to this release for reference. To view, please click the following link:

Bore hole electromagnetic surveys (BHEM) have been completed on 3 of the 4 originally drilled holes during the summer and identified three conductive bodies in the vicinity of the drill holes (the West, East and Feeder Conductors). Drilling to date has been targeted to only test the West conductor. Holes 9 through 14 were drilled on two east - west oriented sections on 100 metre spaced lines. These holes have all intersected variable amounts of disseminated and blebby sulphide with holes 10 and 14 having intersected 8.2 metres (reported here) and 5.1 metres respectively of massive sulphide. Holes 7 and 8 were shallow holes drilled to the west of the historical mine workings and did not return any significant sulphides. Assays are pending for holes 11 through 14 and partial assays for hole 10 only are reported here.

Dean MacEachern, COO of Blackstone, stated "Holes 3, 10 and 14 have all hit significant massive sulphides and indicate higher grade nickel sulphide mineralization associated with the West conductor is located to the west and downdip to the south. In light of these important results a second drill has been mobilized to the property to accelerate drilling of this very promising target. Future drilling will be to test the lateral and down dip extent of the West conductor. As well, initial drill testing of the East and Feeder conductors will commence immediately."

Blackstone has a 2007 Swedish nickel exploration program underway with a planned 25,000 metre drilling campaign underway with five drill rigs operating; two at Lainjaur and three at the Lappvattnet project. Additionally an emerging copper zinc district has been discovered to the north at Uma.

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. 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

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
    Blackstone Ventures Inc.
    Robert Carriere
    (604) 687-3929