Blackham Resources Ltd ("Blackham" or "the Company") (
Blackham's principal success to date has been identifying, consolidating and defining orebodies all within 20kms of the existing Wiluna Gold Plant. From the large existing Resource base of 61Mt @3.1g/t for 6.2Moz Au, the Expansion PFS brings into Reserves 1.2Moz (15Mt @ 2.5g/t) - an increase of 116% in 1 year.
----------------------------------------------------------------------- Expansion PFS Highlights - Initial Gold Production 1.47Moz Au over initial 9 years - Open Pit Mining Inventory 15Mt @ 2.3g/t for 1.1Moz - Underground Mining Inventory 4Mt @ 4.7g/t for 608koz - Expanded processing capacity up to 3.3Mtpa - Gold Production average 207,000ozpa (first 6 yrs after expansion) - LOM All in sustaining costs A$1,058/oz or US$836/oz - Project cash flows $571M* Initial Capex $114M - NPV8%* $360M* IRR* 123% * assumes A$1,600/oz gold price and before corporate and tax ------------------------------------------------------------------------ Oxide reserves currently 3.5 years
- Opportunity to grow open pit reserves from Matilda, Lake Way, Wiluna North and Regent resources and targets
- Wiluna underground has 20Mt @ 4.8g/t for 3.0Moz of Mineral Resources outside the mine plan with the economics still to be fully evaluated which will include assessing bulk mining opportunities
- Expansion Definitive Feasibility Study (Expansion DFS) is underway with key work well advanced
- Very few operations in premium mining jurisdictions have defined resources of a scale to support 200,000ozpa of production with a strong grade profile and likely long mine life.
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About Wiluna Mining Corporation Ltd
Wiluna Mining Corporation (ASX:WMC) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
Contact
Bryan DixonManaging Director
Blackham Resources Limited
Office: +61-8-9322-6418
Jim Malone
Investor Relations Manager
Blackham Resources Limited
Office: +61-419-537-714
John Gardiner
Media Enquiries
Citadel Magnus
Office: +61-8-6160-4901
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