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Perth, Feb 9, 2012 (ABN Newswire) - Blackham Resources Limited (
ASX:BLK) is pleased to announce that following the recent publication of its initial resource statement, it has commenced a 2,000 metre RC drilling programme at the Matilda Gold Mine. This area has not been drilled in over 15 years and management believe the Matilda Mine has potential for both sizeable open pit and high grade underground deposits.
The Matilda Mine is a large gold system which has been mined in most places to less than 50m with 7 small pits over a strike of 3.5kms. The Matilda Mining Centre was last exploited by ASARCO during the mid-90's. Asarco ceased production at Matilda in 1996 when the gold price was about US$400/oz. Production from all previous owners mined 4Mt @ 2.2g/t for approximately 280,000oz of gold. The large mineralised system has gold hosted in saddle reef and shear structures often with near surface supergene enrichment. Most of the existing Matilda deposits remain open both along strike and at depth.
Blackham has only reviewed two of these deposits in its resource statement, M2 and M10, and will evaluate the other deposits in due course following further drilling. Most the drilling at the Matilda Mine has been to a shallow depth. The limited deeper drilling in the area has been successful in identifying the high grade lodes in the fresh rock but requires further definition drilling.
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 resources are 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).
Blackham recently announced it had completed a review of existing deposits at the Matilda Gold Project. This review has identified 601,000oz of existing resources within the project area.
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.
Management believes there is significant opportunity add to the existing resources at the Matilda Mine in both the oxide material and fresh rock.
For the complete announcement including figures and tables, please view:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-577560.pdf
ASX:BLK) is pleased to announce that following the recent publication of its initial resource statement, it has commenced a 2,000 metre RC drilling programme at the Matilda Gold Mine. This area has not been drilled in over 15 years and management believe the Matilda Mine has potential for both sizeable open pit and high grade underground deposits.The Matilda Mine is a large gold system which has been mined in most places to less than 50m with 7 small pits over a strike of 3.5kms. The Matilda Mining Centre was last exploited by ASARCO during the mid-90's. Asarco ceased production at Matilda in 1996 when the gold price was about US$400/oz. Production from all previous owners mined 4Mt @ 2.2g/t for approximately 280,000oz of gold. The large mineralised system has gold hosted in saddle reef and shear structures often with near surface supergene enrichment. Most of the existing Matilda deposits remain open both along strike and at depth.
Blackham has only reviewed two of these deposits in its resource statement, M2 and M10, and will evaluate the other deposits in due course following further drilling. Most the drilling at the Matilda Mine has been to a shallow depth. The limited deeper drilling in the area has been successful in identifying the high grade lodes in the fresh rock but requires further definition drilling.
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 resources are 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).
Blackham recently announced it had completed a review of existing deposits at the Matilda Gold Project. This review has identified 601,000oz of existing resources within the project area.
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.
Management believes there is significant opportunity add to the existing resources at the Matilda Mine in both the oxide material and fresh rock.
For the complete announcement including figures and tables, please view:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-577560.pdf
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About Blackham Resources Limited
Western Australian resources company, Blackham Resources Limited (ASX:BLK) is evaluating the development of the Scaddan and Zanthus Energy Projects for the export of coal and development of a coal to liquid (CTL) facility.
The Scaddan and Zanthus Energy Projects, located near Esperance, Western Australia, contain world scale coal deposits totalling 1.4 billion tonnes with over 10,600 PJ of energy at shallow depth and very low mining costs.
The project has the potential to produce 860 million barrels oil equivalent, consisting mainly of a clean diesel, as well as additional power for the region.
The Scaddan Energy Project is surrounded by complimentary infrastructure approximately 60 kilometres north of the town and major port of Esperance and 10 kilometres east of the Esperance to Kalgoorlie highway, gas pipeline and railway line.
Blackham has large landholdings in the Western Australia for across a number of commodities.
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