High-Grade Surface Discoveries Boost Mankayan's Copper-Gold Potential
Blackstone Minerals has announced a significant discovery of high-grade copper and gold mineralisation at surface surrounding its Mankayan Copper-Gold Project in the Philippines, reinforcing the site's status as one of the world's premier undeveloped copper-gold assets.
New Surface Discoveries Expand Project Potential
Historical rock chip samples recently identified by Blackstone Minerals' technical team have revealed exceptional grades, including samples assaying up to 6 g/t gold and 1.9% copper with associated silver values up to 53.1 g/t. These high-grade surface occurrences are located immediately north and east of the already substantial Mankayan deposit.
| Sample No | Gold (g/t) | Copper (%) | Silver (g/t) |
|---|---|---|---|
| CS-4 | 5.97 | 1.90 | 53.1 |
| CS-22 | 1.13 | 0.66 | 4.3 |
| CS-30 | 1.46 | 0.85 | 8.2 |
| CS-47 | 2.65 | 0.60 | 7.4 |
| CS-59 | 1.10 | 1.27 | 10.6 |
The Blackstone Minerals high-grade surface discovery follows recent drilling success, which included an impressive intercept of 432m @ 1.25% CuEq (0.55% Cu & 0.89g/t Au) from 692m in hole BRC60, including 210m @ 1.60% CuEq (0.69% Cu & 1.16g/t Au).
In response to these findings, Blackstone has launched a comprehensive mapping and surface sampling program to further define these results and identify additional exploration targets.
"This is a very exciting development for the Mankayan Project. The discovery of high-grade surface copper and gold mineralisation immediately adjacent to what is already a globally significant ore body, reaffirms Blackstone's commitment to focus on unlocking the full exploration potential of this project," commented Scott Williamson, Managing Director of Blackstone Minerals.
Understanding Porphyry Deposits: Why This Matters to Investors
Porphyry copper-gold deposits represent some of the world's most valuable mineral resources, typically characterised by large tonnage and long mine lives. These deposits form when copper and gold-bearing fluids from magmatic intrusions create extensive networks of mineralisation.
Porphyry deposits are crucial to global copper supply, accounting for approximately 60% of world copper production. These deposits typically contain lower metal grades (often 0.3-1.0% copper) but compensate through their enormous size and consistent mineralisation, making them economically viable to mine at scale.
What makes Blackstone Minerals' high-grade surface discovery at Mankayan particularly significant is the combination of large scale (bulk tonnage) and high-grade zones. While many porphyry deposits offer either scale or grade, Mankayan appears to deliver both – creating flexibility in development approaches and potentially enhancing project economics.
The discovery of high-grade surface mineralisation is especially noteworthy as it:
- Indicates potential for near-surface resources that could reduce initial development costs
- Suggests the mineralised system may be more extensive than previously defined
- Provides targets for Blackstone's upcoming maiden drilling program
Philippines: A Mining-Friendly Jurisdiction
The Mankayan Project benefits significantly from its location in the Philippines, which has established itself as a mining-friendly jurisdiction with a pro-mining regulatory environment. The country has a long history of successful mining operations by major companies including B2 Gold and OceanaGold.
Blackstone Minerals has made substantial progress in developing positive relationships with local stakeholders, establishing a strong social license to operate. This community support, combined with the Philippines' skilled mining workforce and existing infrastructure, creates an advantageous environment for project development.
Strategic Development Options
The Mankayan Copper-Gold project offers Blackstone Minerals multiple development pathways:
- Selective Mining Approach: Target the high-grade core initially, reducing upfront capital costs while allowing for future expansion
- Bulk Mining Method: Extract the global resource through large-scale operations, requiring higher initial investment but potentially delivering lower operating costs
This optionality provides Blackstone with flexibility to adapt to market conditions and optimise returns throughout the project lifecycle. The recent high-grade surface discovery may also create opportunities for additional development scenarios that could enhance overall project economics.
Financial Position and Next Steps
With the recent completion of its merger with IDM and a successful capital raising of $22.6 million, Blackstone Minerals is financially well-positioned to accelerate development of the Mankayan project. The company's upcoming activities include:
- Expanding surface mapping and sampling to delineate new targets
- Commencing its maiden drilling program at Mankayan
- Initiating comprehensive geophysics programs including magnetics, induced polarisation, and electromagnetics
- Prioritising high-grade zones for future drilling campaigns
These activities are designed to build on the recent high-grade surface discovery and further enhance understanding of the Mankayan deposit's full potential.
Why Investors Should Watch Blackstone Minerals
Blackstone Minerals represents a compelling opportunity for investors seeking exposure to copper and gold – two metals critical to global electrification and economic stability. The company's strategic positioning offers several key advantages:
- World-Class Asset: Mankayan ranks among the highest-grade undeveloped copper-gold porphyry projects globally
- Recent Discoveries: Surface mineralisation indicates potential for resource expansion
- Strong Financial Position: $22.6 million in recent funding provides runway for development
- Experienced Management: Leadership team with deep expertise in Southeast Asia and underground bulk mining
- Favourable Jurisdiction: Pro-mining environment in the Philippines enhances development prospects
- Development Optionality: Flexibility to pursue selective high-grade or bulk mining approaches
The Blackstone Minerals high-grade surface discovery further enhances the project's appeal, potentially accelerating the path to production while expanding the overall resource base. With multiple value catalysts anticipated in the second half of 2025, Blackstone offers investors exposure to a major gold system at a pivotal stage of development.
The combination of recent exploration success, strong financial position, and strategic optionality positions Blackstone Minerals to advance the Mankayan project toward becoming one of the region's premier copper-gold operations. Furthermore, the continued mapping and sampling of golden crown stockpiles will provide valuable insights to guide the company's upcoming drilling program and overall development strategy.
In addition, recent copper production approvals across the sector highlight growing industry momentum that could benefit advanced projects like Mankayan in the medium term.
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