Black Hawk cuts nickel at Redstone

The first diamond drill hole at Black Hawk Mining’s (TSE) Redstone nickel property south of Timmins, Ont., has intersected significant values.

Hole BH 94-1 intersected 6.79% nickel over 8 ft. from 1,006 to 1,014 ft. Within this zone, the intercept from 1,008.2 to 1,012.3 ft. assayed 12.82% nickel and 1.04% copper over a width of 4.1 ft.

It is the first hole in a 15-16-hole program designed to test the downdip extension of the known ore zone below 700 ft., which was the lowest working level when the mine was closed in mid-1992. Hole BH 94-1 intersected the ore zone at a vertical depth of 940 ft., which is 240 ft. below the lowest working level.

The Redstone mine started up in 1989, and to the end of May, 1992, production totaled 280,000 tons averaging 2.55% nickel.

Black Hawk owns the property, subject to a 2% net smelter return royalty (to a maximum of $312,500) and a 5% net profits interest royalty.