Blackstone Ventures Inc.
TSX VENTURE : BLV

Blackstone Ventures Inc.

December 18, 2007 11:03 ET

Blackstone Ventures Inc.: Mineralization Extended at Ertelia Nickel Mine, Norway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - Blackstone Ventures Inc. (TSX:BLV) announced today that results from a recent drilling program has extended the sulphide mineralization at its Ertelia Mine prospect located approximately 100 kilometres west of Oslo, Norway.

Fall 2007 Drill Program

The recent drilling program was initiated as a follow up to mineralization identified in previous work. Four holes have been completed since the beginning of this recent phase of drilling. The objective was to further extend the mineralized horizon along strike and down dip outside the zone of mineralization drilled to date. Sulphide intersections in have been made in holes 33, 34, 35 and 39 and demonstrate the potential to extend the mineralization further over this target even at relative shallow depths. These holes intersected mineralization over up to 26.75 metre widths as indicated in the estimates below. Assay samples have been split and sent to the lab. Results are pending.



Hole # From To Length Sulphide(%)
--------- ------ ------ ------ -------------
ER07-33 142.60 154.45 11.85 10% Sulphides
includes 153.45 154.45 1.00 55% Sulphides
ER07-34 97.75 124.50 26.75 30% Sulphides
includes 102.30 114.15 11.85 45% Sulphides
ER07-35 449.00 452.75 3.75 60% Sulphides
ER07-39 114.40 125.00 10.60 40% Sulphides


Holes 33, 34 and 39 were drilled on section 1500E and indicate continuity of the sulphide zone along the contact margin of the intrusion over more than 300 metres. Additional drilling is planned to determine the entire extent of the mineralization. Two more drills will be moved to the site in early January as Ertelia will become a focus of drilling for the company over the next several months.

Dean MacEachern, Blackstone COO, stated, "These intersections show good continuity of the mineralization at Ertelia and demonstrate the potential to build a nickel resource in this area of historical production. The recent intersections are important since they are all outside of the known mineralized envelope. Hole 35 is the deepest intersection we have on the horizon to date and holes 34, 35 and 39 are 50 metre step outs to the south of southerly most holes on the Ertelia zone. I am confident that with the planned additional drill resources applied to this target we will be able to prove up a significant resource before the mid part of 2008. Currently we are drilling down dip to the west of hole 39 with a 100 metre step out."

Ertelia Mine Project Background

Previous drilling at the Ertelian Mine prospect defined nickel sulphide mineralization over greater than a 300 metre strike length along the northern mapped contact of the Ertelia intrusive and remains open in all directions. Prior to the current drilling campaign 27 holes were completed in 2006 and four in early 2007. The mineralization occurs both at the footwall contact and within the intrusive and is open at depth towards the southern part where only limited drilling has been completed to-date. Previously reported results (August 9, 2006) include a 19.9 metre intersection grading 1.90% Ni and 1.76% Cu in hole ER2006-6b (within a wider zone of 28.1 metres of 1.46% Ni, 1.32% Cu). Highlight results from six holes are given below with a complete list of results attached.



Hole # From To Length Ni(%) Cu(%) Co(%) Sulphide(%)
---------- ------ ------ ------ ---- ---- ---- -------------
ER2006-06B 281.78 309.85 28.07 1.46 1.32 0.08 55% Sulphides
ER2006-09 251.16 254.70 3.54 0.72 1.30 0.06 25% Suphides
ER2006-10 233.00 242.60 9.60 0.99 0.32 0.06 35% Suphides
ER2006-12 177.10 177.40 0.30 0.65 0.85 0.05 25% Suphides
ER2006-17 172.18 174.66 2.48 1.43 0.99 0.09 55% Suphides
ER2006-18 142.55 152.35 9.80 1.05 0.76 0.09 40% Suphides


The Ertelia Mine Prospect is one target area within the 100 kilometre long Ertelien Project Area in south central Norway. It is one of 34 electromagnetic anomalies that Blackstone has been methodically exploring in 2007 in the Ertelian Project area. The EM anomaly at Ertelia is coincident with the historic Ertelian Mine which according to the Norweign Geological Survey (historical disclosure and cannot be relied upon as factual as it non 43-101 compliant disclosure) was reported to have had 400,000 tonnes of production with a head grade average of 1.04% nickel, 0.69% copper and 0.17% cobalt.

The exploration program at Ertelien is part of a $4.5 million 2007 Norwegian nickel exploration campaign. Drilling was planned for up to 25,000 metres and is ongoing. Goals for the year included airborne geophysical ground truthing at numerous areas from a previously completed 18,000 metre airborne survey. Thus far in 2007 a total of 21,000 metres of drilling in 140 holes have been completed at 7 prospects. Results are still pending for over 600 samples that have been submitted for analysis. The initial primary drilling objective has been to drill test as many prospects as possible early in the year and to commence focused drilling in the fourth quarter. Currently drilling is ongoing at the Espedalen and Ertelia Projects.

Quality Control

Drill core is logged and mineralized intervals are split on site in Norway, 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. Base metals (Ni, Cu and Co) are analyzed utilizing an ICP fusion method whereas Pt, Pd and Au are analyzed using a 30g sample with an ICP and fire assay finish. 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 http://blv.ca.

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.

To view the maps accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/Blackstone%20Map.pdf



Table of Assay Results

Holename From To Length %Ni %Cu %Co
---------------------------------------------------------------------------
ER2006-01B 61.5 73 11.5 0.78 0.54 0.05
incl 64.4 71.44 7.04 1.12 0.67 0.07
ER2006-01B 116.7 118.48 1.78 0.94 1.49 0.06
ER2006-01B 116.7 121.68 4.98 0.79 0.86 0.05
ER2006-02 185.46 187.19 1.73 1.70 0.50 0.09
incl 185.46 189.06 3.6 1.45 0.35 0.07
ER2006-03 130.5 145.2 14.7 0.24 0.17 0.02
185.65 189 3.35 0.96 0.17 0.07
incl 185.65 187.95 2.3 1.29 0.22 0.10
ER2006-04 181.85 193.05 11.2 0.28 0.23 0.03
ER2006-05 27.3 46.26 18.96 0.27 0.15 0.03
incl 32.1 33.27 1.17 0.82 0.26 0.08
and 41 46.26 5.26 0.40 0.16 0.04
97.92 106.78 8.86 1.08 0.64 0.08
incl 103.7 106.78 3.08 1.69 0.59 0.11
199.7 209.62 9.92 0.26 0.82 0.03
incl 199.7 201 1.3 0.71 1.37 0.05
ER2006-06B 281.78 309.85 28.07 1.46 1.32 0.08
289.95 309.85 19.9 1.90 1.76 0.11
ER2006-09 251.16 259.8 8.64 0.37 0.59 0.03
incl 251.16 254.7 3.54 0.72 1.30 0.06
ER2006-10 209.5 256.91 47.41 0.40 0.28 0.03
230.05 239.6 9.55 1.03 0.36 0.06
236.7 239.6 2.9 1.67 0.54 0.09
295.85 298.8 2.95 0.61 0.35 0.03
ER2006-11 287.5 299.5 12 0.20 0.18 0.02
ER2006-13 34 36 2 0.34 0.24 0.02
ER2006-16 353 357.4 4.4 0.14 0.08 0.01
ER2006-17 21.78 43.85 22.07 0.27 0.17 0.02
incl 21.78 23.2 1.42 0.93 0.11 0.06
131.2 133.43 2.23 0.76 0.60 0.06
168.88 175.5 6.62 0.66 0.45 0.04
incl 172.18 174.66 2.48 1.43 0.99 0.09
ER2006-18 142.55 152.35 9.8 1.05 0.76 0.09
incl 147.8 152.35 4.55 1.50 1.11 0.12
238.13 245.27 7.14 0.58 0.47 0.03
incl 238.13 241.78 3.65 0.90 0.76 0.05
ER2006-19 278 282.75 4.75 0.44 0.08 0.02
345.3 350.55 5.25 0.39 0.39 0.03
ER2006-22 110.8 113 2.2 0.68 0.24 0.03
incl 111.85 113 1.15 1.18 0.30 0.05
125 126.7 1.7 0.56 0.37 0.03
ER2007-30 18.5 20.85 2.35 0.57 0.23 0.23
incl 19.2 20 0.8 1.32 0.02 0.61


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.