Matilda Project Grows to 1.4 Million Ounces of Gold
Blackham's revised gold resources at the Matilda Gold Project are summarised below (see link at bottom of release).
Matilda Resource Update
Resources at the Matilda Mining Centre have now reached 682,500oz Au further consolidating its position as the largest gold endowment within the Matilda Project. Further increases are expected when the M8 deposit and other prospects are estimated.
The Matilda deposits contain a mix of oxidation types as shown in the Table 4 below, (see link below).
The completion of the M3 resource has also highlighted that lodes from M1, M2, M3, M4 & M5 deposits are part of a large mineralised system (Figure 1). Within this system there are a number of areas with little or no drilling that if tests prove successful, may provide additional resources as well as a positive impact on the mining economics around these deposits (Figures 2 & 3).
As the Company shifts its focus towards development, priority will be given to improving the confidence of resources and ultimately converting resources into reserves. A 3,000m RC drill program commencing next week will focus on infill and extension zones around the M1, M3 and M4 deposits. The Company and the drilling contractor have agreed 50% the drilling contract will be paid in Blackham shares.
The Company is delighted with the recent growth of the Matilda Project. In less than 12 months the resources have grown over 350%. The Resource base is now sufficient to consider development options which would see the Company become a producer in the near-term.
To view the complete Blackham Resources announcement including Tables, Figures and revised gold resource at Matilda Gold Project, please click the link below:
About Blackham Resources Ltd
Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) Wiluna-Matilda Gold Operation is located in Australia's largest gold belt which stretches from Norseman through Kalgoorlie to Wiluna. The Operation now includes resources of 96Mt @ 2.2g/t for 6.7Moz Au all within 20kms of the central processing facility. Blackham has consolidated the entire Wiluna Goldfield within a +1,440km2 tenure package which has historically produced in excess of 4.4 million ounces over a 120-year mining history.
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