Surface Discoveries at Mankayan Raise Questions on Resource Expansion Risks

Significant Surface Discoveries at Mankayan

Blackstone Minerals Limited has announced the identification of high-grade copper and gold mineralisation at surface surrounding its Mankayan copper-gold porphyry deposit in Northern Luzon, Philippines. This discovery stems from a detailed review of historical data, revealing rock chip samples with assays reaching nearly 6 grams per tonne (g/t) gold and 1.9% copper. These findings are particularly notable given their proximity to the already globally significant Mankayan deposit, suggesting potential extensions or satellite zones of mineralisation.

Exploration Strategy and Upcoming Programs

In response to these promising results, Blackstone’s technical team has initiated a comprehensive mapping and surface sampling program aimed at better defining these mineralised zones. This effort will help refine exploration targets ahead of the company’s maiden drilling campaign, which is scheduled to commence shortly. The program also includes plans for advanced geophysical surveys, such as magnetics and induced polarisation, to further delineate subsurface structures and mineralisation.

Financial and Strategic Positioning

The timing of this discovery is bolstered by Blackstone’s recent merger with IDM International and a successful capital raising of $22.6 million. This financial strength positions the company well to accelerate exploration and development activities at Mankayan. Managing Director Scott Williamson emphasized the company’s commitment to unlocking the full potential of the project, highlighting the dual mining development options that offer both selective high-grade extraction and bulk-tonnage scalability.

Favourable Operating Environment

The Mankayan Project benefits from its location in the Philippines, a jurisdiction known for its pro-mining regulatory environment and established mining industry. Positive relationships with local stakeholders and a skilled workforce further enhance the project’s development prospects. These factors, combined with existing infrastructure, provide a solid foundation for advancing the project towards production.

Looking Ahead

While the surface rock chip results are encouraging, they represent an early stage in exploration. The true extent and continuity of mineralisation will require confirmation through drilling and further geological modelling. Nonetheless, these findings add a compelling new dimension to the Mankayan Project’s profile, reinforcing its status as one of the world’s most promising undeveloped copper-gold porphyry deposits.