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Blackham Resources Ltd.
Summary
| Project: | Matilda | |
|---|---|---|
| Deposit: | East and West Lodes | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 3-8-2017: Blackham Resources Ltd. announces a Resource Estimation report for its East and West Lodes deposit at the Matilda project. Revised Mineral Resource estimate for the East and West loades at the Matilda project. Blackham Resources Ltd (ASX: BLK) ( | |
| Resources: | (Resource, I+I): 8.46Mt @ 2.83g/t Au for 0.77g/t Au contained at East and West lodes | |
| CP/QP: | [Resources]: Marcus Osiejak (Internal) | |
| ABSTRACT: | Blackham Resources Ltd (ASX: BLK) (“Blackham”) is pleased to provide a revised Mineral Resource estimate for the East and West lodes at the Matilda/Wiluna Gold Operation. Mineral Resource estimates are currently underway for the Happy Jack – Bulletin and Adelaide – Moonlight areas and will be reported later this quarter. The latest Mineral Resource estimate for the East and West Lodes is reported within an A$1,800/oz optimised pit shell and is based on an additional ~30,000m of RC and diamond drilling completed between January and May 2017. This drilling has resulted in a significant improvement in the confidence level of the Mineral Resource with 76% now classified as Indicated. Mining studies which will allow an initial open pit Ore Reserve estimate for the East and West Lode are nearing completion. Managing Director Bryan Dixon said “Since drilling commenced in September last year a total of ~$4M has been spent on Resource and Reserve definition drilling on the East and West lodes. In this time the Mineral Resource has grown 860% in less than a year from 80,000oz to 770,000oz of which 76% is classified as Indicated. This represents a very attractive resource addition cost of $5.80/oz. This large resource base provides a very solid basis for the expansion plans with the Expansion PFS to be released this month.” | |
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