Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Identifies Large Exploration Target
Identifies Large Exploration Target

Sydney, July 2, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (googlechartASX:BLK) is pleased to announce that geological investigations at the Williamson area has identified an exploration target of 0.5 Moz to 2.0 Moz (2 to 6 g/t Au) (Table 2). The exploration target has been defined beneath the existing Williamson and Williamson South Resources and over the Carroll and Prior Prospects, approximately 1-2 km south of the Williamson Mine. The exploration target represents potential gold endowment in addition to the estimated combined resources at Williamson of 364,000oz.

Total gold resources at Blackham's Matilda Project are estimated at 790,000oz (Table 1).

The purpose of defining the exploration target is to demonstrate the potential size and scale of gold endowment in the Williamson region. Over 1,000 drill holes have been drilled in this area to date, successfully identifying the Williamson Mine and associated mineralised structures, yet only 15% have penetrated beneath the weathering profile. By comparison, nearly 6 Moz of gold have been discovered at the nearby Wiluna Mine (operated by Apex Minerals Limited) with 4 Moz occurring beneath 100m depth and mineralisation remains open 1 km beneath the surface. The Wiluna Mine is only 18 km along strike from Williamson (Figure 1). Therefore the majority of the Williamson region is considered to be under-explored.

The exploration target has been determined using a range of parameters including:

- The strike and extent of existing resources
- Strike of known mineralised structures
- Exploration results to date
- The nature of mineralisation at the Wiluna Mine which is seen as an analogue of mineralisation styles at Williamson.

The Company's exploration target includes potential quantity and grade and is conceptual in nature. There has been insufficient exploration to define these mineral resources and it is uncertain if further exploration will result in the determination of mineral resources.

Geological interpretations of all prospects are continuing with a view to defining drill targets to test the extensions of mineralisation. A breakdown of the individual targets is detailed below.

Williamson

The Williamson exploration target is an extension of the Williamson Deposit which Agincourt Resources Limited previously mined 42,000oz between 2005 and 2006. Blackham has calculated inferred resources of 301,000oz remaining below the open pit.

Only a small number of holes have been drilled outside the current resource area. One of those holes, RWD00018, returned an outstanding intersection of 3.5m @ 35.5g/t Au from 372m. This hole is believed to have intercepted one of the high-grade shoots identified in the resource model that remain open at depth and plunging moderately to the north (Figure 2).

Williamson South

The Williamson South structure stretches for over 1.3km south of the Williamson Deposit with mineralisation encountered over its entire strike (Figure 2). An inferred resource has been estimated at Williamson South of 63,000oz. Within the resource are two prospective zones that deserve further exploration for their potential to host significant ore bodies at depth beneath the existing resource.

Carroll - Prior Trend

The Carroll and Prior Prospects lie on a mineralised structure with anomalous intercepts striking over 4 km. Deeper exploration on this structure has been limited, however intercepts such as 22m @ 3.3 g/t Au from 91m and 11.6m @ 3.1 g/t Au from 72m provide encouragement that resources will be defined with additional drilling (Figure 3 & 4).

The broader range of potential endowment at these prospects reflects the limited extent of drilling and the potential for shallow oxide and/or deeper primary mineralisation.

Summary

The Williamson Mine Centre exploration target combines a range of 0.5 Moz to 2.0 Moz gold. In addition to these exploration targets a number of auger drilling anomalies also require further drill testing (see Figure 4). The Company believes this demonstrates the potential of the Williamson area with mineralisation occurring on multiple structures, over a combined strike of over 7km, from surface to depths of up to 250m. The Company is excited about the potential of the results to date which could be showing the early signs of a new mining centre with multiple mines, similar to the Wiluna Mine camp, only 18km along strike to the northwest.

Definition of drill targets to test the extensions of mineralisation is continuing.

Blackham is committed to unlocking the full value of the Matilda Gold Project and is currently re-estimating resources at the Matilda Mine due to be completed in July (currently 79,000oz, previous production of 163,000oz between 1986 - 1992). This process has also identified additional drill targets, particularly at the M10 Deposit. The Company is currently sourcing a suitable drilling rig to conduct a small RC programme at the earliest opportunity.

To view the complete Blackham Resources announcement including Figures 1 - 4 and all Tables, please click on the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-595020.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.

https://twitter.com/wilunamining/ https://www.facebook.com/wilunamining/ https://www.linkedin.com/company/wilunamining abnnewswire.com 


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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