Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Quarterly Activities Report March 2019
Quarterly Activities Report March 2019

Perth, May 1, 2019 AEST (ABN Newswire) - Blackham Resources Ltd (googlechartASX:BLK) (googlechartBKHRF:OTCMKTS) ('Blackham' or 'the Company') provides the following update on its activities for the quarter ended 31 March 2019 and thereafter:

Highlights

Matilda-Wiluna Gold Operation

- Safety - two LTIs over the last 12 months. 12 month TRIFR remains below industry average.

- Mar'19 quarterly gold production of 15,296oz (Dec'18 Qtr: 19,016oz)

- AISC for the Mar'19 quarter was A$1,757/oz (Dec'18 Qtr: A$1,606/oz) and included sustaining capital expenditure costs of A$194/oz, mostly related to a tailings dam lift (completed in the first week of Apr'19)

- Mar'19 quarterly production was impacted by:

o lower YTD mining movements depleting high grade stockpiles

o lower mill throughput as expected due to harder ore from the Wiluna East-West pit

o lower metallurgical recovery due to the decision to process partially refractory transitional ores

o offset by an increase in the processed head grade to 1.5g/t (Dec'18 Qtr: 1.4g/t)

- The Mar'19 quarter saw significant investment in mining development with benefits over the next 6 months:

o investment in the M1 North cutback, to be completed by late Jun'19

o stoping of Golden Age Lower is expected to commence in the Jun'19 quarter, providing an increased volume of high-grade ore

- Binding Toll Milling Agreement entered into with Northern Star Resources Limited (NST) provides a framework for co-operation where it is of mutual benefit to both Companies. An initial parcel of Jundee ore is to be processed through the Wiluna Gold Plant in May'19 and Jun'19. Due to the Wiluna Operation currently being mining constrained the Toll Milling Agreement is expected to increase Blackham's net cash flows during the Jun'19 quarter.

- With Jundee ore displacing Blackham's low grade stockpile material feed in the Jun'19 quarter, FY19 production guidance is revised to 66-68koz @ an AISC of ~A$1,700/oz. This production guidance reflects only gold production attributable to Blackham and excludes gold production from Jundee ore.

- Mine planning continues to focus on reducing mining costs and increasing production from higher margin reserves

- Expecting to start building high grade stockpiles in Jun'19 with Matilda M1 cutback completed

- Strong production outlook for the Sep'19 Qtr of 19koz-23koz, with M1 open pit reaching high grade ore, and continued underground high grade contribution

To view the full report, please visit:
http://abnnewswire.net/lnk/NCVW9QMU


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.

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Contact

Milan Jerkovic
Executive Chairman
Office: +61-8-9322-6418

Bryan Dixon
Managing Director
Office: +61-8-9322-6418

Jim Malone
Investor Relations
Mobile: +61-419-537-714



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