Quarterly Activities and Cashflow Report September 2016
Perth, Oct 31, 2016 AEST (ABN Newswire) - The Board of Blackham Resources Ltd (
ASX:BLK) ('Blackham' or 'the Company') is pleased to provide an update on its activities for the quarter ended 30 September 2016 and thereafter.
HIGHLIGHTS INCLUDE:
Matilda Operations
- Open pit mining commenced at the Matilda Mine in July
- Underground mining commenced at Golden Age in July
- Gold plant wet commissioning started in September with first gold production in October
- Focus on ramp up and optimisation of mining and the Wiluna Gold Plant
Large gold resource 48Mt @ 3.3g/t for 5.1Moz (48% indicated):
Large resource base provides flexibility and multiple mine planning opportunities
Expansion Study
- Expansion Study underway aiming to grow production to 175-230kozpa and better monetise the large resource base
Exploration
- Discovery of additional mineralisation at a number of deposits including:
- Extensions at Matilda Mine along strike and down dip
- Extension of high grade ore in the upper levels of Golden Age
- Definition of high grade plunging shoots at Bulletin
- 25,000m Wiluna extension drilling program to be completed by December
- Resources and reserves currently being updated due to drilling success
Corporate
- $25 million raised in placement to fast track expansion plans
- $33.1m in cash at the end of the quarter
- $8 million draw down on Orion debt facility
- Hedging completed - forwards 54,250oz @ A$1,749/oz
To view the full report, please visit:
http://abnnewswire.net/lnk/DYZVZ5IK
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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