Blackstone and Falconbridge hit high grade

Blackstone Ventures (BLV-V) and A/S Sulfidmalm, a unit of Falconbridge (FL-T) have intersected significant nickel on their Espedalen project in Norway.

Results from some priority core samples that were sent for assay from a couple of holes include: 14.6 metres grading 1.73% nickel, 0.77% copper and 0.06% cobalt (this includes a 7-metre intercept grading 1.68% nickel, 1.03% copper and 0.06% cobalt and further downhole 1.9 metres at 6.9% nickel, 2.05% copper and 0.21% cobalt).

Another hole cut 30.4 metres of 15-20% sulphides that graded 0.45% nickel, 0.2% copper and 0.03% cobalt. This included a 1-metre intercept that graded 0.77% nickel, 0.36% copper and 0.06% cobalt.

Assays are pending for sections of these holes as well as for nine other holes that have been drilled. Three holes were stopped short due to technical problems, but will be redrilled.

All holes hit sulphides in varying amounts, from disseminated to net-textured and up to massive (in narrow zones) over widths up to 30 metres wide.

The 60-sq.-km property is centred on a large differentiated mafic intrusion. Numerous small mines operated in the area in the mid-1800’s, and showings occur throughout the property.

A test ground electromagnetic geophysical survey (UTEM) was carried out on the western side of the property in 2003. Two strong conductors were identified, one associated with known mineralization.

Later that year an airborne magnetic and electromagnetic survey was flown that identified eight high priority conductors and numerous lesser anomalies. Further ground geophysics was completed and 13 of the more than 20 geophysical conductors were selected based on their having coincident magnetic high anomalies or known mineralization.

At presstime about one half of the planned metreage had been drilled.

Blackstone is earning a 60% interest in the property by spending $2.25 million on exploration by July 2007. Following this, Sulfidmalm can elect to buy back a percentage of the property for a specified price.