Blackham Resources Ltd (ASX:BLK) Quarterly Activities and Cashflow Report March 2017

The Board of Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) ('Blackham' or 'the Company') is pleased to provide an update on its activities for the quarter ended 31 March 2017 and thereafter.

HIGHLIGHTS INCLUDE:

Matilda/Wiluna Gold Operation

- Quarterly gold production totalled 14,920oz (Dec'16 Qtr 8,773oz)
- Quarterly C1 cash costs A$1,123/oz and All In Sustaining Costs A$2,002/oz.
- 2017 FY production guidance 40,000-45,000oz for ~ 8 months
- Operations are modestly profitable and production is expected to ramp up during the Jun'17 Qtr on higher mill throughput and mill head grade.

Corporate

- Oversubscribed $35m placement completed in Feb' 2017
- $34.8m in cash at the end of the quarter
- Gold poured and sold 14,772oz @ A$1,625oz
- Hedge book currently 36,991oz @ A$1,644/oz

Expansion Study

- Expansion targeting mill throughput of 3.2Mtpa due to the continued success in the Wiluna open pit resources
- Initial expansion study in final stages of completion

Exploration

- Completed 37,480m of infill and extension drilling programme at the Wiluna open pits
- RC drill programme has been completed and a further 2,500m of diamond drilling is expected to be completed
- Initial results around East West pit suggests potential for a much larger pit with significant additional mineralisation confirmed both within and to the north of the existing pit designs
- New Golden Age lodes identified

Resources

- Wiluna open pit resources are being updated for drilling completed to date

To view the full report, please visit:
http://abnnewswire.net/lnk/5R4NKV9X


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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