Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Blackham Resources Ltd (ASX:BLK) Update on Matilda Gold Mine Acquisition
Blackham Resources Ltd (ASX:BLK) Update on Matilda Gold Mine Acquisition

Perth, Oct 11, 2011 AEST (ABN Newswire) - Blackham Resources Ltd (googlechartASX:BLK) pleased to announce it is making good progress on its due diligence for the 100% acquisition the Matilda and Williamson Gold Mines and the Regents, Carol Prior, Galaxy Gold Deposits in the Wiluna gold belt of Western Australia (Project) is progressing well.

The 500km2 landholding surrounds the operating Wiluna Gold Mine owned by Apex Minerals NL.

This region has produced over 4 million ounces of gold.

Blackham's main focus will initially be to explore for new gold resources in and around the Matilda (Wiluna South) Mine. Matilda is a large gold system which has been mined to less than 90m over a strike of 3.5kms. The existing deposits all remain open at depth. Asarco ceased production at Matilda in 1996 when the gold price ranged from US$395 to US$405/oz. Production from all previous owners reached approximately 280,000oz from 7 open-pits. Blackham intends to target the extensions along strike and the high grade extensions below the existing pits then remodel the resources and re-optimise pits based upon current gold prices.

No systematic regional exploration has taken place on the Project since Great Central Mines sold the Wiluna Mine and surrounding package to Normandy in 2002. Since 1996, the Project has been owned by numerous companies and most of the exploration has focused on the neighbouring Mine.

MATILDA (WILUNA SOUTH) MINE

The Matilda Mine is a large gold system containing 7 historical open pits which have been mined to less than 90m all held under existing mining leases. The mining from the pits has confirmed the system extends over a strike of 3.5kms. Chevron and then Eon Metals mined the area between 1986-1992 and processed 2.5Mt @ 2.02g/t for 163,000ozs of gold. Asarco commenced mining Matilda in 1992 and ceased production in 1996 when the gold price was approximately US$400.

During this time production was 1.5Mt at 2.46 g/t for 117,200ozs gold.

A number of mineralised zones intersected in shallow RAB drilling within the Matilda system also demonstrate consistent plunge geometry and down-dip potential but have not been tested at depth.

The Matilda Mine database includes 6,660 holes with the average depth of drilling is 49m; only 270 holes are deeper than 100m and only 53 holes are deeper than 200m, which presents a valuable opportunity for the discovery of new deposits.

There are also a number of shallow intercepts outside the historical pit areas with no follow up drilling which provide additional open-pit targets.

Further exploration data on the Matilda gold mine can be found in the enclosed Appendix.

Blackham Managing Director, Bryan Dixon made the following statement, "The value of the Matilda mining database should not be underestimated. The gold systems have been targeted by extensive shallow drilling but have never been followed up at depth. Matilda was mined when gold prices were a fraction of current prices. Historical pits were designed 20 years ago around gold deposits that have never been mined which represents a fantastic opportunity for our shareholders."

Blackham intends to fast track its due diligence and release more information of the Williamson Mine and Regents and Galaxy deposits in the near future.

For the complete Blackham announcement including figures and Appendix, please view:
http://media.abnnewswire.net/media/en/docs/69998-ASX-BLK-560678.pdf


About Wiluna Mining Corporation Ltd

Wiluna Mining Corporation LtdWiluna 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.

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Contact

Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418

Tony Dawe
Professional Public Relations
T: +61-8-9388-0944



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