Blackstone and IDM Confirm Rich High-Grade Copper-Gold Mineralisation at Mankayan
Blackstone Minerals and IDM International have reported impressive assay results from drillhole CDH-61 at the Mankayan copper-gold porphyry project, confirming over 300 metres of high-grade mineralisation and a robust high-grade core. This milestone reinforces Mankayan's status as a world-class undeveloped copper-gold asset with significant development optionality.
- Over 300m of high-grade copper-gold mineralisation intersected in drillhole CDH-61
- Drillhole ended in mineralisation, confirming a high-grade core within the Mankayan deposit
- Project benefits from proximity to Lepanto gold mine and Far Southeast project infrastructure
- Merger between Blackstone Minerals and IDM International underway to advance project development
- IDM holds a 25-year mining license and secured historic Indigenous People agreement enhancing social license
A Landmark Drill Result at Mankayan
Blackstone Minerals Limited has announced assay results from the first drillhole (CDH-61) completed by IDM International at the Mankayan copper-gold porphyry project in the Philippines. The drillhole, designed primarily for metallurgical and geotechnical testing rather than full resource delineation, intersected an impressive 1,608 metres at 0.89% copper equivalent (CuEq), including 346 metres at 1.12% CuEq, ending in mineralisation. This confirms the presence of a high-grade core within the deposit, a critical factor for future development strategies.
Located just 2.5 kilometres from the Lepanto gold mine and the Far Southeast project, Mankayan benefits from established mining infrastructure, positioning it advantageously for accelerated development. The project is currently undergoing a merger between Blackstone and IDM, which holds a 64% interest in Mankayan, aiming to leverage combined expertise and resources.
Strategic Development Optionality
The confirmation of a high-grade core opens up flexible development pathways. Blackstone’s Managing Director, Scott Williamson, highlighted the potential for a low-capital expenditure (capex) starter operation using selective mining methods such as Long Hole Open Stoping (LHOS). This approach could deliver strong early returns while minimising upfront costs, a significant advantage in today’s capital-intensive mining environment.
In addition, the mineralised system remains open at depth and along strike, particularly to the north, indicating substantial exploration upside. Future drilling will be angled to better capture vertically oriented mineralisation zones, ensuring more accurate resource definition.
Robust Social and Regulatory Foundations
IDM has secured a renewed 25-year Mineral Production Sharing Agreement (MPSA) and signed a historic Memorandum of Agreement with the local Indigenous People, marking a pioneering step in securing social license in the region. The Mines and Geosciences Bureau has recognised Mankayan as a Priority Project, underscoring its importance to regional sustainable development.
The Philippines’ pro-mining regulatory environment, combined with a skilled local workforce and existing infrastructure, provides a supportive backdrop for the project’s advancement. Blackstone’s experience with the Ta Khoa nickel project in Vietnam offers operational synergies and cost efficiencies that can be applied to Mankayan’s development.
Market Context and Future Prospects
The global demand for copper and gold remains robust, driven by electrification, renewable energy, and gold’s role as a store of value. Mankayan’s high-grade copper-gold resource aligns well with these market dynamics, offering investors exposure to critical energy transition metals.
Pending assay results from a second IDM drillhole (CDH-62A) and ongoing exploration activities promise further insights into the project’s scale and quality. The merger between Blackstone and IDM is expected to unlock additional shareholder value through combined expertise and resource consolidation.
Bottom Line?
Mankayan’s high-grade core and strategic positioning set the stage for a scalable, low-capex development that could reshape copper-gold supply dynamics in Southeast Asia.
Questions in the middle?
- What will the pending assay results from drillhole CDH-62A reveal about the extent of mineralisation?
- How will the Blackstone-IDM merger impact project financing and development timelines?
- What exploration strategies will be employed to unlock the open mineralisation zones to the north and at depth?