Swiss-based Black­stone Re­sources be­gins ex­plo­ration drilling

The UB Post - - Front Page - By B.CHINTUSHIG

Black­stone Re­sources, a Swiss Hold­ing com­pany, re­ported that it has com­menced its ex­plo­ration drilling pro­gram in Mon­go­lia. The drilling will be car­ried out in three sites, Shar Tol­goi, Ar Nuur, and Su­vanga, lo­cated in an area where the com­pany holds ex­plo­ration li­censes...

Black­stone Re­sources, a Swiss Hold­ing com­pany, re­ported that it has com­menced its ex­plo­ration drilling pro­gram in Mon­go­lia. The drilling will be car­ried out in three sites, Shar Tol­goi, Ar Nuur, and Su­vanga lo­cated in an area where the com­pany holds ex­plo­ration li­censes.

The com­pany said that his­toric data and stud­ies in­di­cate sig­nif­i­cant re­sources of molyb­de­num, cop­per and gold at the three areas. Ex­ten­sive field work, desk-top stud­ies, ge­o­log­i­cal map­ping and geo­phys­i­cal sur­veys have al­ready taken place. His­tor­i­cal data in­di­cates in­ferred re­sources of 0.5 mil­lion tons of molyb­de­num, Black­stone said.

Dur­ing the geo­phys­i­cal phase of the prospect­ing pro­gram, a de­tailed mag­netic sur­vey was car­ried out across the li­censed area. Data from this study will be used to sup­port the com­pany’s his­toric anal­y­sis on where drilling should take place on known areas of re­sources. Th­ese results will also al­low Black­stone to dis­cover ad­di­tional re­sources, the com­pany said.

Black­stone un­der­lined that this was an im­por­tant mile­stone achieve­ment. The results from the pro­gram will be an­a­lyzed and in­crease the present knowl­edge of re­sources in the area. It will also form part of a de­tailed fea­si­bil­ity study in the fu­ture that will move the project into the pro­duc­tion phase.

Black­stone owns a ma­jor­ity of Troi Gobi LLC. This com­pany holds four li­censes that cover 421 square kilo­me­ters of South East Mon­go­lia, lo­cated in Sukhbaatar Province. In 2016, the com­pany con­ducted a Mag­netic Sur­vey in Sukhbaatar Province and in 2017, it drilled ad­di­tional 1,000 me­ters of ex­plo­ration drillings in or­der to de­fine fur­ther bod­ies con­tain­ing molyb­de­num, iron ore and cop­per.

Black­stone Re­sources is a Swiss Hold­ing Com­pany, with its le­gal domi­cile in Baar, Switzer­land and is con­cen­trat­ing on the bat­tery met­als mar­ket as pri­mary met­als. In ad­di­tion, it sets up, de­vel­ops and man­ages re­finer­ies used for gold and bat­tery met­als.

“It of­fers di­rect ex­po­sure to the bat­tery metal revo­lu­tion that is be­ing driven by the de­mand of elec­tric ve­hi­cles that need vast quan­ti­ties of th­ese met­als. Th­ese in­clude cobalt, man­ganese, molyb­de­num, graphite and lithium. In ad­di­tion, Black­stone Re­sources has started a re­search pro­gram on new bat­tery tech­nolo­gies,” a state­ment on the com­pany’s web­site said.

...The com­pany said that his­toric data and stud­ies in­di­cate sig­nif­i­cant re­sources of molyb­de­num, cop­per and gold

at the three areas...

Molyb­de­num ore

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