🕐16.09.09 - 17:22 Uhr
Blackstone Completes First Phase Drilling at its Norbotten Copper-Gold Project in Sweden
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Blackstone Completes First Phase Drilling at its Norbotten
Copper-Gold Project in Sweden
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News Release #9-2009
Blackstone Ventures Inc.
(BLV-TSX) is pleased to announce that it has
completed seven diamond drill holes totaling 895 metres at its
Norbotten Iron Oxide-Copper-Gold (IOCG) project in northern Sweden.
Drilling has identified IOCG alteration and copper mineralization in a
highly under-explored area of the world-class Kiruna District.
The
Company also announces that it has staked additional ground along
strike of its findings and now holds close to 30 kilometres of the
Kolari Trend (eastern part of the Kiruna District) host to IOCG
deposits in Finland.
This initial phase drill program tested two adjacent Induced
Polarization (IP) geophysical anomalies covering a strike length of 3
kilometres.
The first IP anomaly which extends 1.4 kilometres and is
coincident with the recently discovered Vesa copper gold showing (2.4%
Cu, 0.63 g/t Au) was tested with four drill holes.
Drill holes cut
disseminated pyrite, lesser disseminated and veined chalcopyrite and
magnetite hosted by strong K-Feldspar altered rocks with surrounding
muscovite-biotite-scapolite-hematite alteration.
Alteration zones
intersected in these drill holes ranged from core lengths of less than
20 to 80 metres.
The second anomaly measuring 1.6 kilometres and
located immediately northwest was tested with three short, broadly
spaced drill holes but intersected mainly disseminated magnetite.
All
assays are pending.
CEO for Blackstone, Dean MacEachern comments "The results of our first
phase drill program are encouraging.
We have confirmed that we are in
the right alteration system with copper mineralization and weve only
covered a small fraction of our landholdings.
Our newly staked claims
provide us with a more significant land position to explore this
virtually uncharted part of a world-class ore district.
We are awaiting
assays and will plan our next steps after receiving those results."
The project is located just 70 kilometres east of Bolidens giant Aitik
Cu-Au Mine (proven reserves at January 1, 2007 of 526 million tonnes @
0.28% Cu, 0.2g/t Au, 2 g/t Ag).
The Aitik Cu-Au mine is one of the
largest copper producers in Europe having produced 173,000 tonnes of
copper in 2008.
The Aitik deposit and the Kolari district deposits in
Finland display similar alteration associated with copper
mineralization.
Exploration programs are being carried out under the direction of Jari
Paakki, P.
Geo., Vice President of Exploration and Project Development
for Blackstone and a qualified person as defined by National Instrument
(NI) 43-101.
The information in this release was prepared under the
direction of Dean MacEachern, P.Geo., President and Chief Executive
Officer for Blackstone, a qualified person as defined by NI 43-101.
About Blackstone
Blackstone is a mineral exploration company currently focused on base
and precious metals in Scandinavia.
In addition to the Norbotten
project, the Company plans exploration programs at the high grade
Cu-Zn-Pb Uma discovery in northwestern Sweden.
Blackstones primary
assets are extensive nickel-copper holdings in Sweden and Norway
including six deposits with current NI 43-101-compliant resources.
For further information on Blackstone, please visit the Blackstone
website at www.blv.ca or call investor relations at 604-687-3929.
On behalf of Blackstone Ventures Inc.
"Dean MacEachern"
Dean MacEachern, President
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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.
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Copyright (c) 2009 BLACKSTONE VENTURES INC.
(TSX-V:BLV) All rights
reserved.
For more information visit our website at http://www.blv.ca/
or send mailto:
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