Swiss-based Blackstone Resources begins exploration drilling
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...