Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

April 03, 2006 15:53 ET

Blackstone Ventures Continues to Intersect High Grade Nickel Over Significant Widths at Kenbridge

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2006) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to announce final results from the 2005 diamond drilling program which continued to intersect high grade near surface nickel mineralization at the Kenbridge nickel deposit. All drill holes completed in December 2005 except K05-19 contain significant intersections of nickel - copper mineralization. The drill results from the last 6 of 21 holes drilled are reported on today. Of particular significance are the results from hole K05-15 which returned values of 2.09% Ni, 0.95% Cu and 0.06% Co over 7.9 metres core length. Additional new intersections worth noting are as follows:

- K05-12: 1.59% Ni and 0.57% Cu over 2.1 metres;

- K05-14: 1.34% Ni and 0.73% Cu over 13.9 metres;

- K05-17: 2.58% Ni and 1.37% Cu over 2.9 metres;

- K05-18: 1.45% Ni and 0.51% Cu over 3.0 metres;

All the drill holes completed during this phase of exploration were designed to test if there exists potential for high grade nickel mineralization in the central portion of the deposit above 150 metres vertical depth which might be accessible by an open pit or ramp. A complete list of significant assay results for nickel, copper and cobalt from all diamond drilling is presented in the attached table. As well a plan map showing all 2005 drill-hole locations and a longitudinal section are appended to this release and are available on the Blackstone website.

Precious metal assay results (Pt, Pd and Au) are still pending for all drill holes completed during this phase of exploration and will be reported as they become available.

The results from this phase of diamond drilling clearly demonstrate that there is potential for high grade zones of nickel mineralization close to surface within the Kenbridge deposit. The mineralization appears to be fairly steeply dipping and varies between being broad zones of stringer and disseminated mineralization, such as that seen in hole K05-15, to zones of massive sulphide with significant nickel values such as that noted in holes K05-21 and 11. There appears to be at least 3 separate zones of mineralization consisting of a core of massive to semi-massive sulphide surrounded by a halo of disseminated sulphide mineralization. Additional drilling will be required to accurately correlate mineralized zones along strike and down dip. True thicknesses of the drill intersections are estimated to be between 60 and 70% of the drill core length indicated in the assay table.

The Kenbridge property presently contains the Kenbridge deposit, which was developed toward production by Falconbridge during the 1950's. No work has been carried out on the property since that time. The Kenbridge deposit occurs within a pipelike body of gabbro that has an elliptical surface shape with approximate dimensions of 300 metres by 60 metres. The mineralization has been demonstrated to a depth of 800 metres and remains open to depth. Falconbridge constructed a three-compartment exploration and development shaft to a depth of 620 metres in the late 1950s. A historical resource estimate was prepared by Falconbridge in 1971 and documents 3.3 million tonnes grading 1.14 per cent nickel and 0.6 per cent copper.(i)

The 2005 exploration program at Kenbridge was carried out under the direction of Peter Holbek, PGeo, a qualified person under National Instrument 43-101. All drill holes were logged and NQ core split and quartered on site. A quarter of the core was sent to SGS Mineral Services in Sudbury, Ont., for ICP analysis and fire assay. Half of the core was sent to Lakefield Research for future metallurgical testwork. The company employs a system of quality control for all assays which includes the regular use of standards and blanks and check assaying. 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 the Kenbridge Project visit the Blackstone website at http://blv.ca where a series of maps, photographs and images have been posted under the Kenbridge Project.

On behalf of Blackstone Ventures Inc.

Donald A. McInnes, President

Note: (i) The resource estimate stated for the Kenbridge deposit should be considered to be historical, and as such does not conform to the requirements of National Instrument 43-101. Although Blackstone considers the historical resource estimate to be relevant, it has not been verified by a qualified person for Blackstone, as required by National Instrument 43-101, and should not be relied upon. Blackstone intends to establish a new resource estimate under National Instrument 43-101 guidelines in due course.

To view the entire release, including the table and attached maps please click on the following link:

http://www.blv.ca/i/pdf/060329_BLV.pdf

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

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