Resource Success Supports Increase in Processing Capacity
Resource Success Supports Increase in Processing Capacity
Perth, Jan 23, 2017 AEST (ABN Newswire) - Blackham Resources Ltd (ASX:BLK) (OTCMKTS:BKHRF) ("Blackham") is pleased to provide a revised Mineral Resource estimate for an expanded Matilda/Wiluna Gold Operation. This is the second resource announcement associated with the Stage 2 expansion study aimed at growing production beyond 200,000ozpa and includes new open pit Mineral Resource estimates at the Happy Jack - Bulletin and Adelaide - Moonlight areas.

- Wiluna exploration success and resource upgrades point to additional 1.5Mtpa crushing and grinding circuit to process Wiluna ores

- Mining and processing studies point to +3Mtpa @ ~ 3g/t Au total processing capacity across the Matilda/Wiluna Operation.

- Combined Matilda/Wiluna Measured, Indicated and Inferred Mineral Resources have grown to 63Mt @ 3.2g/t for 6.4Moz (49% indicated)

- 25% total resource increase since the last quarter

- Open pit resources now 37Mt @ 2.1g/t for 2.4Moz including:

o Initial open pit Mineral Resource estimate for Happy Jack - Creek Shear - Bulletin area of 2.9Mt @ 2.75g/t for 250koz (94% indicated)

o Initial open pit Mineral Resource estimate for Adelaide - Moonlight area of 0.7Mt @ 3.14g/t for 67koz (52% indicated)

- Underground resources stand at 26Mt @ 4.8g/t for 4.0Moz

- Growth in the open pit resources is likely to underpin the base load feed and growth in the underground resources will provide important grade profile for Wiluna processing plant

Mineral Resources at the Matilda/Wiluna Operation have grown to 6.4Moz (63Mt @ 3.2g/t) with 31Mt @ 3.1g/t Au for 3.1Moz sitting in the Measured and Indicated categories. Consequently, Blackham is advancing its mining and processing studies to increase the processing capacity to more efficiently develop the large resource base and bring better value to its shareholders.

A draft report has been received from Orway Mineral Consultants (OMC) on a recommended processing flowsheet for an additional 1.5Mtpa in new crushing, grinding and flotation circuit to feed the existing BIOX plant. The commissioning of this additional capacity in addition to the recently refurbished 1.7Mtpa oxide circuit would see total capacity of ~3.2Mtpa across the oxide and sulphide circuits, all located at the Wiluna processing hub. The expanded Wiluna plant would bring significant economies of scale to the combined project with all the resources sitting within a 20km radius of the processing plant.

Current mine planning is focused on the planned 1.5Mtpa sulphide circuit being fed equally from both the open pits and the underground. The Wiluna underground would have 2 of the existing 5 declines in operation at any point in time.

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About Blackham Resources Ltd

Blackham Resources ASX:BLKBlackham 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.



Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418

Bruce Kendall
Chief Geological Officer
T: +61-8-9322-6418

Jim Malone
Investor Relations
Blackham Resources
T: +61-8-9322-6418

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