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Blackham Resources Ltd.

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Summary

Project:

Matilda

Deposit:Golden Age
Location:Australia
Commodities:Gold
Date:8/24/2016
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Active Mining & Production
Report details:24-8-2016: Blackham Resources Ltd. announces an Exploration/Drilling Update report for its Golden Age deposit at the Matilda project. Drilling results incl. 12.0m @ 7.40g/t Au from 0m at the Lennon Lode. Blackham Resources Ltd (ASX: BLK) (“Blackham”) is p
Resources:(Reserve, Total): 112000t @ 6.0g/t Au for 21000oz Au contained at Golden Age deposit
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 free milling, quartz vein hosted Golden Age deposit with numerous high grade results returned between and along strike from historical stopes. The diamond drill program was designed to test the grade and continuity of the Golden Age lode between two historical stoped areas outside the current resource. This program is likely to yield a Reserve increase for this portion of Golden Age, situated just 400m below surface and easily accessible from the existing decline. Several holes also intersected the Lennon sulphide lode along strike from existing Indicated Resources. A total of 39 underground drill holes for 2726.5m have been completed. Prior to this drilling the Golden Age ore reserve was estimated at 112,000t @ 6.0g/t for 21,000oz (refer to ASX announcement dated 17th June 2016). These results are expected to increase the Golden Age Mineral Resource, leading to further ore reserve additions. The Golden Age deposit forms part of Blackham’s 100% owned Matilda Gold Project in Western Australia. Dry commissioning of the Wiluna gold plant has recently commenced with gold production targeted shortly. Blackham’s Managing Director, Bryan Dixon, said “The latest Golden Age drilling is likely to add further grade profile to the mill feed during the first 2 years of production. The latest mineralisation which is outside the current resource is easily accessible just above the existing Golden Age reserves where mining activities commenced in July. The mining study over this new area is being prioritised.”

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