Matilda Drilling Defines Oxide Targets
Perth, Mar 20, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (
ASX:BLK) is pleased to announce further results of drilling at the Matilda Gold Project. Drilling in the vicinity of the M2, M4 and M5 pits has returned numerous significant intercepts, including:
13m @ 2.79 g/t Au from 58m (MARC0014);
2m @ 10.8 g/t Au from 37m (MARC0016);
22m @ 1.70 g/t Au from 42m (MARC0017); and
11m @ 2.49 g/t Au from 37m (MARC0018).
These results complement the recently reported high-grade results from the M10 Prospect, such as:
16m @ 4.50 g/t Au from 34m (MARC0001)
7m @14.0 g/t from 74m (MARC 0009)
8m @ 9.98 g/t from 107m (MARC 0008)
6m @ 5.11 g/t from 41m (MARC 0005)
Drilling targeted potential shallow extensions of mineralisation adjacent to several open pits in the heart of the Matilda Mining Centre. This has identified at least three further priority areas for further work with good potential to define extensions outside the current resources. All of these holes sit outside the current gold resources quoted for the Matilda Mine Centre.
The M2, M4 & M5 pits were actively being mined when operations were suddenly suspended in the early 1990's. Consequently, mineralisation can be found to extend beneath and along strike of the current pits at shallow depths, amenable to open-pit mining. It appears that previous mining has only scratched the surface of what is a very large mineralized system. These shallow oxide targets are in addition to the targets beneath the M1 Pit with high-grade mineralisation open down plunge.
Full results of the February campaign can be found in Appendix A of this announcement. The Company is continuing geological interpretations and has identified several other targets for drill testing.
The Matilda Mining Centre is located approximately 19km south of the township of Wiluna and produced 265,000oz from 7 shallow pits prior to its closure in 1992. 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 management are pleased with the continuing return of positive drill results which have confirmed the potential for ore at shallow depths along strike from the historical pits at the Matilda Mining Centre. Arrangements are currently being made for a further drilling programme at the Matilda Mine to commence in April.
Background
Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects in the Wiluna gold belt of Western Australia. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. The tenure package covers 40km of strike along the Wiluna Mine sequence which has produced over 4Moz of gold. In addition, the strike of the prospective Coles Shear which hosts the Matilda Deposits has been extended to 10 km. Blackham has the largest landholding in one of Western Australia's major Archeaen greenstone belts.
Blackham has validated 601,000oz of remaining resources at the Project, which has good potential for additional discoveries. Blackham is targeting the resources mostly to be converted to reserves in the near term.
----------------------------------------------- Matilda Gold Project Gold Resource Estimates InferredMining Centre Tonnes Au(g/t) Oz. Au-----------------------------------------------Williamson 6,001,000 1.9 364,000Regent 1,259,000 2.0 81,000Matilda 2,067,000 1.2 79,000Galaxy 884,000 2.7 77,000-----------------------------------------------TOTAL 10,211,000 1.8 601,000-----------------------------------------------Rounding errors may occur - grades to 2 significant digits in this table.
Blackham is also evaluating the development of the Scaddan and Zanthus Energy Projects for coal export and the building of a coal to liquid (CTL) facility. The Scaddan and Zanthus Energy Projects, located near Esperance, Western Australia, contain 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.
To view the complete Blackham announcement including all data, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-582751.pdf
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.
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