Blackstone gains ground

Blackstone Ventures (BLV-V) has picked up a second diamond property in the north Slave Craton of Nunavut, south of Coronation Gulf.

The junior can acquire a 35% interest from each of Anglo-Celtic Exploration and the numbered company 4673 NWT, for a total 70% interest in the 494-sq.-km GT claims.

Under terms of the deal, Blackstone is required to reimburse up to $104,000 in staking costs, issue a total of 400,000 shares in stages, and spend $732,000 on exploration over three years.

In December, Blackstone inked a deal with the numbered company 4763 NWT to acquire the Ursus diamond property in the Coronation Gulf area.

The 46-sq.-km Ursus property is 45 km northwest of recent diamondiferous kimberlite discoveries made at the Anuri pipes by Kennecott and at the Knife pipe by De Beers. The former is a subsidiary of Rio Tinto (RTP-N); the latter, a subsidiary of Anglo American (AAUK-Q).