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Highlights
- Visible gold identified in latest drilling at the Mankayan copper-gold project.
- Angled drilling approach improves understanding of mineralization potential.
- Merger with IDM International advancing towards unlocking project value.
Blackstone Minerals (ASX:BSX) has reported promising drilling results at the Mankayan copper-gold project in the Philippines, revealing visible gold in a recent diamond drill hole. The discovery comes as the company progresses with its proposed merger with IDM International, a deal expected to enhance its strategic position in the region.
Significant Gold Discovery at Mankayan
A recent drilling campaign at Mankayan, which is considered a priority project by the Philippines Mines and Geosciences Bureau, has identified free gold in an angled drill hole—marking a departure from the historical vertical drilling approach. The hole was drilled at a 70-degree angle, a strategy aimed at increasing the likelihood of intersecting vertically oriented mineralization.
The shift in drilling orientation is expected to provide valuable metallurgical, geotechnical, and structural insights across the porphyry system. According to Blackstone Minerals’ (BSX) leadership, the discovery of visible gold is a significant development, revealing new exploration opportunities beyond the existing copper-gold porphyry resource.
Strengthening Partnerships and Community Support
A key factor in the project’s momentum is IDM International’s progress in securing local support. In December 2024, IDM achieved a historic milestone by signing a memorandum of agreement (MoA) with the indigenous community—marking the first-ever consent granted for a mining project in the region. This agreement reinforces the project's viability and strengthens stakeholder relations, paving the way for further development.
Strategic Exploration and Growth Plans
The Mankayan project is strategically positioned 2.5 kilometers along strike from the Lepanto gold mine and the Far Southeast project, both well-known for their mineral wealth. With the ongoing merger, Blackstone Minerals (BSX) is aligning its technical expertise with IDM International’s assets to maximize Mankayan’s resource potential.
Blackstone’s leadership emphasizes that the recent findings open new exploration targets within volcanic host rocks that were previously unexplored for assays. The discovery enhances confidence in the project’s potential to become a world-class copper-gold operation.
Merger Set to Drive Development
The proposed merger between Blackstone Minerals (BSX) and IDM International is expected to bring together extensive expertise in base metals mine development and energy transition markets across Southeast Asia. Once finalized, the combined entity aims to accelerate the development of Mankayan, leveraging its resources and technical capabilities.
With new drilling insights and a strong regional foothold, the project is gaining momentum, setting the stage for further exploration and development at Mankayan.
