Blackstone Minerals Ltd (ASX:BSX) (OTCMKTS:BLSTF) (FRA:B9S) substantial holder Delphi Unternehmensberatung AG has increased its stake in the nickel sulphide explorer to 14.48% from 13.43%.
This move further demonstrates the German investor's strong support of junior resource companies with solid exploration success, strong projects and firm development plans.
Delphi increased its substantial status through a series of on-market and off-market purchases from November 30 to February 24.
The Heidelberg-based investor and its related entities now hold more than 46.59 million shares in Blackstone.
Follow-up drilling planned at Ta Cuong
Blackstone recently discovered significant new sulphide mineralisation in a previously untested zone within the Ta Cuong Prospect at its Ta Khoa Nickel Sulphide Project in Vietnam.
Ta Cuong, and now the Taipan Discovery Zone (TDZ) within it, have the potential to add significantly to Blackstone’s massive sulphide mining inventory at Ta Khoa, providing further impetus for the restart of the existing 450,000 tonnes per annum concentrator.
Follow-up drilling is being planned to test several proximal electromagnetic (EM) geophysics targets as well as the extent of the intensely mineralised TDZ.
The company expects to provide an update regarding ongoing drilling at Ta Cuong, the anticipated King Snake assays, along with results from infill drilling at Ban Chang and Ban Phuc DSS over the coming weeks.