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Blackham Resources Ltd.

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Summary

Project:

Matilda

Deposit:Bulletin
Location:Australia
Commodities:Gold
Date:8/16/2016
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Mine Development
Report details:16-8-2016: Blackham Resources Ltd. announces an Exploration/Drilling Update report for its Bulletin deposit at the Matilda project. Drilling results incl. 6.0m @ 26.4g/t Au from 22m. Blackham Resources Ltd (ASX: BLK) (“Blackham”) is pleased to announce th
Resources:(Resource, Total): 48Mt @ 3.3g/t Au for 5.1Moz Au contained at Matilda project
CP/QP:[Overall Report]: Bruce Kendall (Internal)
ABSTRACT:Blackham Resources Ltd (ASX: BLK) (“Blackham”) is pleased to announce the latest results received from underground drilling at the Bulletin mine with drilling from the Bulletin Decline continuing to produce excellent results between the historical stopes. The diamond drill program was designed to infill the lode identified in Blackham’s previous round of drilling between two historical stoping areas (refer to BLK ASX release dated 26th April 2016). This current program will allow resources to be upgraded from unclassified or Inferred to Indicated. A total of 30 underground drill holes for 3,244.4m have been completed. Drilling has returned outstanding results of 6.0m @ 26.4g/t Au from 22m incl. 1.8m @ 83.3g/t in drill hole BUUD0036, 15.6m @ 7.51g/t Au from 120.4m incl. 9.5m @ 8.27g/t in BUUD0014, 8m @ 7.05g/t Au from 106.0m including 2.5m @ 9.75g/t in BUUD028 and 7m @ 5.0t/t Au from 19m including 0.7m @ 15.9g/t demonstrating continuity of grade and width. Prior to this drilling the Bulletin ore reserve was estimated at 938,000t @ 4.7g/t for 142,000oz (refer to ASX announcement dated 19th April 2016). These results are expected to upgrade existing resources from the Inferred to Indicated category, leading to further ore reserve additions. The Bulletin mine forms part of Blackham’s 100% owned Matilda Gold Project in Western Australia. Wet commissioning of the Wiluna gold plant is expected later this month with gold production targeted within 3 weeks as outlined in ASX announcement dated 15th August 2016.

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