Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Blackham Resources Limited (ASX:BLK) Confirms Matilda Gold Project Resources
Blackham Resources Limited (ASX:BLK) Confirms Matilda Gold Project Resources

Perth, Jan 16, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (googlechartASX:BLK) is pleased to announce that is has completed a review of existing deposits at the Matilda Gold Project. This review has identified 601,000oz of existing resources within the project area, including 301,000oz of resources remaining at the Williamson Mine since the completion of mining.

Background

Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. This region has produced over 4 million ounces of gold. The current Wiluna Gold Mine resource is 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).

The review of resource estimates to date has focussed on advanced prospects and mines. The Company will continue to review other prospects in the project to determine potential resources and exploration targets.

Williamson Resources

The Williamson Gold Mine was operated by Agincourt Resources Limited during 2005-2006 with production reported by Agincourt of approximately 23,000oz. The Williamson Pit strikes over 700m and extends to a depth of approximately 90m at its deepest point. Mineralisation continues along strike and beneath the pit and has been modelled to approximately 250m.

Oblique view of the Williamson Pit and mineralisation (Green 1-3 g/t, Red 3-5 g/t, Magenta >5g/t). Further drilling is warranted at Williamson to improve the resource status into Indicated and Measured categories before commencing feasibility studies with modern economic parameters.

High grade zones at depth provide encouragement for underground mining. Importantly, metallurgical test work at Williamson has identified the ore as free-milling; therefore the ore should be easily recoverable using conventional extraction techniques.

The Williamson South deposit lies only 500m south of Williamson and strikes over 1.5km. The deposit has only been shallowly drilled to approximately 70m and could be significantly upgraded with additional deep drilling.

Matilda Deposits

The Matilda Mining Centre was last exploited by ASARCO during the mid-90's, comprising 7 shallow open pits. Most of these pits were mined to less than 50m and have significant mineralisation outside the pit limits. It is a large mineralised system with gold hosted in saddle reef and shear structures often with near surface supergene enrichment.

Blackham has so far has reviewed only two of these deposits, M2 and M10, and will evaluate the other deposits in due course. The M10 deposit, whilst relatively small, has ore near surface and represents an immediate development opportunity. The Company intends to commence drilling at M10 in the coming weeks.

Regent and Galaxy

Both the Regent and Galaxy Deposits are hosted within the Wiluna Mine Sequence, a similar setting to that which hosts the 4Moz Wiluna Mine operated by Apex. There is considerable scope for increasing the Regents resource at depth while at Galaxy, the structural setting provides encouragement for additional deposits to be found.

For the complete announcement including tables and figures, please view:
http://media.abnnewswire.net/media/en/docs/71282-ASX-BLK-574084.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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