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Silver Swan South Project

The Silver Swan South Project comprises one granted exploration licence E27/545 and six granted prospecting licences, P27/2191 – 2196 covering an area of 38.5 km². The Project is along trend of the massive nickel sulfide Silver Swan Deposit (pre-mining ore reserve of 655 kt at 9.5 % nickel) and associated deposits (pre-mining resource of 10.4 Mt at 1.0 % nickel), and only 8 km northeast of the major Kanowna Belle Gold Mine (+5 Moz gold endowment).

During the December quarter, Blackstone continued to work on finalising priority targets for drill testing.

Highlights of the Project include:

  • Blackstone’s second phase aircore drilling program at Silver Swan South intersected gold mineralisation and extensive basement geochemical anomalism at the Black Eagle prospect with the following result:
    •  10 m @ 3.2 g/t Au from 68 m within;
    • 15 m @ 2.2 g/t Au from 64 m to EOH
  • The above results have significantly upgraded the Black Eagle Prospect and, when combined with previous reconnaissance results of 3 m @ 5g/t Au from 60 m, sees Black Eagle elevated to a priority drill target.
  • The Silver Swan South Project is located 8 km along strike and encompasses the interpreted extension of the Fitzroy Shear Zone which hosts the Kanowna Belle Gold Mine (+5 Moz gold endowment);
  • Aircore drilling will also target the Black Hawk Prospect following up on an initial 3 m @ 2.6 g/t Au from 52 m intersected in the first phase of drilling at Silver Swan South.

Blackstone’s initial drilling at Silver Swan South was targeting both gold, hosted by structural targets along strike from the Kanowna Belle Gold Mine (+5Moz gold endowment), and nickel sulfide mineralisation associated with ultramafic units along strike from the Silver Swan and Black Swan Nickel Mines (combined endowment 166 kt Ni metal). The initial programs were designed to test for basement hosted mineralisation, using air core drilling, to improve definition of gold and base metal anomalism identified by previous reconnaissance style drilling.

Above: Silver Swan South Gold Prospects with Basement Gold Geochemistry Contours

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