BLACKSTONE RESOURCES INC. - EL DIAMANTE UPDATE
VANCOUVER, B.C--
Blackstone Resources Inc. (BZZ-ASE), on behalf of joint venture
partner Insular Explorations Ltd. (ISX-VSE), is pleased to
announce that the work program on the El Diamante property in
Chihuahua, Mexico is near completion. The program consisted of
detailed geological mapping and geochemical sampling of the
previously identified Encino Gordo zone to establish drilling
targets. Additionally reconnaissance mapping and sampling was
carried out in four other Landsat-identified target areas. More
than 400 soil and 400 rock-chip samples were taken and have been
submitted for analysis. Results will be released following a
thorough review and interpretation of the data by Blackstone and
Insular.
The El Diamante project lies in the prolific Sierra Madre gold
belt of Mexico and is northwest and adjacent to the El Suazal
property of Francisco Gold.
Insular has an option to earn a 50% working interest in the
property by expending US$1,000,000 in exploration over the next
three years, making a cash payment of US$175,000 and issuing
100,000 shares to Blackstone. Insular may earn an additional 20%
working interest by expending a further US$1,000,000 on
exploration and paying US$500,000 in cash or shares to Blackstone
for a total 70% working interest.
Shareholders may contact Donald McInnes or Graham Johnson at
800-753-0885 or 604-687-3929, via fax at 604-682-3727 or by
e-mail at bzz@keltic.com for further information. Investor
relations inquiries may also be directed to Kholberg Capital at
902-492-2701. Visit the Blackstone website at
bzz-blackstone.com.
On behalf of the Boards of Directors:
"Donald A. McInnes"
Donald McInnes,
President
The Alberta Stock Exchange has neither approved nor disapproved
the information contained herein.
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