Blackstone and KCA Partner to Unlock Deeper Drilling at Mankayan

Strategic Partnership to Boost Exploration

Blackstone Minerals has announced a significant operational partnership with Western Australia's KCA Site Services to jointly acquire a state-of-the-art diamond drill rig. This collaboration is designed to accelerate exploration efforts at the Mankayan Copper-Gold Porphyry Project in the Philippines, a site regarded as one of Asia’s largest undeveloped copper-gold systems.

The drill rig, secured through a hire-to-buy arrangement, is capable of drilling to depths of up to 1,800 meters; over 300 meters deeper than the current deepest holes at Mankayan. This enhanced capacity is expected to unlock new geological insights and potentially expand the project's resource base.

Building on Proven Cost-Efficiency

Blackstone’s approach draws heavily on its prior success at the Ta Khoa Nickel Project in Vietnam, where owning and operating drill rigs combined with employing local expertise reduced diamond drilling costs to as low as US$50 per meter. By replicating this model at Mankayan, the company aims to significantly lower drilling and geophysics expenses, a critical factor in maintaining capital efficiency during exploration.

KCA Site Services brings deep operational know-how, having supported major gold mining operations with tailored equipment and labour solutions. Their involvement is expected to streamline rig mobilisation and operation, ensuring that Blackstone can rapidly increase drilling metres while optimising expenditure.

Leadership and Forward Outlook

The initiative is overseen by David Kinnersley, Blackstone’s drilling consultant, whose international experience in drill program planning and operational efficiency is pivotal to the project’s success. Managing Director Scott Williamson emphasised the strategic value of the partnership, highlighting its alignment with Blackstone’s capital efficiency goals and its potential to deliver enhanced shareholder value.

Adam Wilson, Managing Director of KCA, expressed confidence in the collaboration, underscoring their commitment to providing fit-for-purpose solutions that empower clients to operate efficiently and extract maximum value from their drilling programs.

With the rig procurement underway and mobilisation imminent, Blackstone is poised to enter a new phase of exploration at Mankayan, setting the stage for potential district-scale growth and multiple value catalysts anticipated later this year.