Applies for Mining License Over Regent
Perth, April 26, 2012 AEST (ABN Newswire) - Blackham Resources Limited (
ASX:BLK) is pleased to confirm it has applied for a mining lease application over its 100% owned Regents gold deposit. Recently Blackham contracted independent geological consultant Runge Limited to estimate the mineral resource for the Regent gold deposit near Wiluna, Western Australia. The Regent deposit has an inferred resource of 3.5Mt at 2.1g/t for 237,000oz of gold.
Blackham has reviewed previous pit optimisation and reserve reports for the Regent deposit prepared by the previous owners (see Figure 1) and is currently updating mining studies for this deposit at current gold prices and cost parameters. The Regent gold resource represents a well-defined zone of gold mineralisation. The main lode is very regular in geometry and is open down dip. The deposit appears to have potential for profitable exploitation by open cut and/or underground mining.
Previous owners of the Regent deposit looked at the economics of mining the deposit by open pit methods. Figure 1 illustrates some of the previous pit shells and the increased pit shell size as the gold price moved from A$595/oz to A$750/oz. Blackham plans to re-assess the economics of an open pit under current gold price and cost parameters. Management also believe there is potential for exploiting the down plunge extension of the resource by underground mining methods.
Background
Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines, Regents and Galaxy deposits and numerous prospects. The project covers 40 kms of strike along the Wiluna Mine Sequence and 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 2011 annual Report).
Blackham's revised gold resources at the Matilda Gold Project are summarised below. Blackham's exploration work is targeting previously defined deposits which are most likely to be converted to reserves in the near term. Blackham is targeting the resources mostly to be converted to reserves in the near term. Since February, Blackham has completed 4,000m drill at the Matilda Mine Centre.
To view the complete Blackham Resources announcement including Tables & Figures, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-586940.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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