Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

August 29, 2005 09:30 ET

Blackstone Ventures Inc.: Kenbridge Nickel Confirmed Over Significant Widespread Widths

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 29, 2005) - Blackstone Ventures Inc. (TSX VENTURE:BLV) is pleased to announce results from a geophysical and drilling program conducted in the late spring at its 97% owned Kenbridge property in western Ontario. All drill holes contain significant intersections with some of the higher grade or thicker zones as follows:



DDH05-04: 1.81% Ni and 0.59% Cu over 5.9 m
DDH05-06: 0.36% Ni and 0.22% Cu over 93.0 m
DDH05-07: 1.11% Ni and 0.32% Cu over 7.2 m
DDH05-08: 1.53% Ni and 0.79% Cu over 22.1 m
includes 3.88% Ni and 1.86% Cu over 2.7m
DDH05-09: 2.07% Ni and 1.08% Cu over 7.8 m


The Kenbridge property presently contains the Kenbridge deposit which was developed towards 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 pipe like 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 3-compartment exploration and development shaft to a depth of 620 metres in the late 1950's. A historical resource estimate was prepared by Falconbridge in 1971, and documents 3.64 million tons grading 1.14% nickel and 0.60% copper. Previous drill results do not include assays for cobalt, gold, or platinum group metals although historical metallurgical testing, which indicated a saleable concentrate could be produced, did contain payable quantities of gold.

Blackstone carried out an initial nine drill-hole program on the Kenbridge deposit in order to obtain information on the geometry of mineralization; the cobalt and PGM contents of the mineralization, and to collect material for metallurgical testing. The nine holes were drilled on three, 50 metre spaced fences that began on the northernmost extent of the deposit and extend to the south, slightly beyond the central part of the deposit. The drill holes are angled across the deposit at approximate 50 metre spacing in both the vertical and horizontal directions.

Significant intersections for the nine drill holes are listed in the table 1 below. Drill holes K0501 through K0503 were drilled on the northern edge of the deposit and produced narrower and lower grade intersections conforming to the edge of the deposit. Drill holes K0504 through K0506 are located on the southernmost section near the central area of the deposit. The deepest hole on this section, K0506, intersected nearly continuous disseminated mineralization across the entire gabbro body with a true width of 48 m, although a number of minor, post-mineralization, dykes contribute some dilution.



Table 1: Significant intersections from the Kenbridge deposit.

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Hole_ID From To Thick (m) Ni% Cu% Co% Pt g/t Au g/t
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K0501 150.5 156.4 5.9 0.57 0.30 0.019 0.13 0.04
-----------------------------------------------------------------------
Incl. 152.6 154.5 1.9 1.16 0.63 0.036 0.23 0.05
-----------------------------------------------------------------------
166.1 176.5 10.4 0.48 0.27 0.017 0.01 0.02
-----------------------------------------------------------------------
Incl. 175.3 176.5 1.2 1.83 1.58 0.046 0.17 0.04
-----------------------------------------------------------------------
K0502 274.6 280.8 6.2 0.43 0.22 0.016 0.08 0.03
-----------------------------------------------------------------------
289.0 300.3 11.3 0.48 0.22 0.016 0.02 0.03
-----------------------------------------------------------------------
K0503 112.4 115.1 2.7 2.32 0.71 0.060 0.27 0.04
-----------------------------------------------------------------------
122.1 131.8 9.7 0.51 0.32 0.019 0.05 0.05
-----------------------------------------------------------------------
K0504 33.9 46.6 12.7 1.00 0.43 0.024 0.08 0.14
-----------------------------------------------------------------------
Incl. 33.9 39.8 5.9 1.81 0.59 0.041 0.07 0.15
-----------------------------------------------------------------------
54.1 70.1 16.0 0.41 0.18 0.014 0.03 0.04
-----------------------------------------------------------------------
121.6 149.7 27.6 0.22 0.14 0.009 0.06 0.06
-----------------------------------------------------------------------
K0505 112.0 119.6 7.6 0.77 0.57 0.020 0.16 0.29
-----------------------------------------------------------------------
169.8 199.6 19.5 0.29 0.21 0.011 0.04 0.09
-----------------------------------------------------------------------
K0506 201.1 294.4 93.3 0.36 0.22 0.013 IS IS
-----------------------------------------------------------------------
Incl. 204.2 240.7 36.5 0.45 0.33 0.015 0.12 0.16
-----------------------------------------------------------------------
And 252.4 266.6 14.2 0.33 0.14 0.012 0.02 0.03
-----------------------------------------------------------------------
And 279.1 292.4 13.3 0.61 0.32 0.020 0.12 0.08
-----------------------------------------------------------------------
K0507 137.4 151.0 13.6 0.32 0.35 0.010 0.06 0.17
-----------------------------------------------------------------------
155.9 163.2 7.2 1.11 0.32 0.023 0.06 0.08
-----------------------------------------------------------------------
180.6 188.8 8.4 0.36 0.16 0.012 0.03 0.04
-----------------------------------------------------------------------
206.0 207.2 1.2 1.65 1.14 0.028 0.10 0.10
-----------------------------------------------------------------------
K0508 187.8 190.7 2.9 0.77 0.36 0.015 0.02 0.05
-----------------------------------------------------------------------
194.6 205.9 9.3 0.76 0.27 0.018 0.03 0.06
-----------------------------------------------------------------------
209.3 214.8 4.5 0.46 0.25 0.012 IS IS
-----------------------------------------------------------------------
228.9 231.9 3.0 0.73 0.18 0.018 0.02 0.02
-----------------------------------------------------------------------
247.8 269.9 22.1 1.53 0.79 0.030 0.07 0.15
-----------------------------------------------------------------------
Incl. 252.3 268.5 16.2 1.91 1.01 0.036 0.08 0.19
-----------------------------------------------------------------------
Or 265.8 268.5 2.7 3.88 1.86 0.068 0.11 0.49
-----------------------------------------------------------------------
K0509 38.6 44.6 6.0 0.60 0.22 0.016 0.04 0.03
-----------------------------------------------------------------------
incl. 43.1 44.6 1.5 1.48 0.55 0.032 0.11 0.06
-----------------------------------------------------------------------
50.4 55.5 5.1 0.31 0.14 0.012 0.11 0.11
-----------------------------------------------------------------------
86.0 94.1 8.1 0.31 0.14 0.011 0.04 0.02
-----------------------------------------------------------------------
101.3 112.5 11.2 1.54 0.79 0.036 0.11 0.16
-----------------------------------------------------------------------
Incl. 104.3 112.1 7.8 2.07 1.08 0.046 0.15 0.23
-----------------------------------------------------------------------
117.7 129.8 12.1 0.46 0.26 0.013 0.07 0.18
-----------------------------------------------------------------------

IS equals not all material within interval was analyzed.


Palladium assays were generally low being less than the platinum values. Metallurgical sample material was collected and is currently undergoing testing at Lakefield Research. Metallurgical work is aimed at determining concentrate characteristics from both low and higher grade material and to determine if electro-magnetic sorting or heavy media separation methods can be used to create a saleable product without the need for milling facilities on site, as the deposit is located proximal to both rail and highways.

A UTEM geophysical program was carried out over the Kenbridge deposit and much of the property north of the deposit. Although the UTEM survey detects the Kenbridge deposit the response is muted due to the short strike lengths and relatively complex nature of massive and net-textured sulphide mineralization within the deposit. The survey outlines the probable northward trace of favourable host rocks and host structures which contain geophysical responses similar to those associated with the Kenbridge deposit. Additional geophysical surveys are being contemplated to aid in detecting similar mineralization as the Kenbridge deposit on the remainder of the property.

Blackstone is a mineral exploration and development company focused on nickel. It currently has a 60% interest in the Espedalen Project and an option to earn a 60% interest in the Vakkerlein Project in Norway, both of which are in partnership with Falconbridge Limited. Wolfden Resources Inc. also holds an option to earn a 70% interest in Blackstone's James River Project. Blackstone also owns approximately 7.5% of Monster Copper Corporation.

On behalf of Blackstone Ventures Inc.

Donald A. McInnes, President

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