Blackstone Minerals Limited (ASX:BSX) Extends Option for Wabowden Nickel Project
Option Extension
Blackstone Minerals Limited (ASX: BSX) has elected to extend the option period for its Agreement with CaNickel Mining Limited. The new deadline for the exclusive right to acquire the Wabowden nickel project is set for 3 January 2025. This extension ensures Blackstone has additional time to pursue strategic partnerships for the project’s development.
Project Development Initiatives
The company is actively progressing initiatives to evaluate and optimise the acquisition of Wabowden. These efforts include completing preliminary mining studies that assess various operating scenarios and engaging with local stakeholders, including the Manitoba government and First Nations. Blackstone aims to align development strategies for both the Wabowden project and its Ta Khoa Refinery.
Executive Insights
Scott Williamson, Managing Director of Blackstone, expressed confidence in their progress towards identifying a strategic partner. He stated, “This extension allows the Company time to finalise these key activities and studies.” He acknowledged CaNickel’s support during this process and highlighted the potential of the Wabowden project.
Wabowden Project Overview
Wabowden is strategically located in the Thompson Nickel Belt, a prominent area known for its nickel resources. The project includes five deposits with a collective resource base of 230 million tonnes at 0.56% nickel, equating to approximately 1.3 million tonnes of contained nickel. Historically, the Bucko deposit within Wabowden has shown significant potential, previously operating as a high-grade underground mining site.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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