Blackstone Minerals (ASX:BSX) Announces Visible Gold Discovery and Merger with IDM
Visible Gold Discovery
Blackstone Minerals Limited (ASX: BSX) announced the identification of visible gold in a recently completed diamond drill hole at the Mankayan Copper Gold Project in the Philippines. The discovery is located above the main copper-gold porphyry system within highly altered volcanic units, presenting an untapped exploration opportunity. The drill hole, CDH-62, was drilled at a 70-degree angle, increasing the likelihood of intersecting vertically oriented mineralisation and providing the technical team with valuable data for further evaluation.
Merger with IDM International
The Mankayan Project is currently the subject of a merger between Blackstone and IDM International. The combined entity will leverage Blackstone’s expertise in base metals mine development and energy transition metals, enhancing exposure to critical metals like copper, gold, and silver. This strategic merger aims to drive forward the development of the Mankayan Project, positioning it for significant growth and value realisation.
Executive Comments
Managing Director Scott Williamson stated, “Following the recent announcement of Blackstone’s proposed merger with IDM, our technical team has been collaborating closely with the Mankayan team to chart a path toward unlocking the full potential of this exceptional project. It’s incredibly exciting to see new exploration opportunities emerging already, such as the discovery of visible gold in zones that have not been historically targeted for assay. We eagerly anticipate finalising the merger with IDM so we can harness the collective expertise of our combined teams to drive forward the development of this world-class, high-grade copper-gold asset. The future for Mankayan is bright, and we are committed to realising its tremendous value.”
Regulatory Updates
Blackstone Minerals Limited has provided an amended announcement to the ASX, clarifying references to the metal equivalent calculation formula for copper equivalents (CuEq%) in accordance with JORC Clause 50. The company confirmed that elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. Additionally, it referenced previously reported exploration results released on 6 February 2025, with a disclaimer that the information has not materially changed. Figures displaying visible gold in drill core were amended to state that the drill core has not been sampled or sent for assay.
Motley Fool contributor Kiarra Jackson 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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