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Blackham Resources Ltd.
Summary
| Project: | Matilda | |
|---|---|---|
| Deposit: | Golden Mile | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 12-6-2018: Blackham Resources Ltd. announces an Exploration/Drilling Update report for its Golden Mile deposit at the Matilda project. Drilling results incl. 6.9m @ 15.5g/t Au from 127m. Blackham Resources Limited (ASX: BLK) (Blackham or the Company) is p | |
| Resources: | (Reserve, P+P): 13Mt @ 2.2g/t Au for 931Koz Au at Matilda Open Pit | |
| CP/QP: | [Overall Report]: Cain Fogarty (Internal) | |
| ABSTRACT: | Blackham Resources Limited (ASX: BLK) (Blackham or the Company) is pleased to present an update on successful drill results from the high grade free milling Golden Age orebody which has significantly extended mineralisation beyond current mining areas. From March’18 to May’18, Blackham drilled 19 surface RC holes (2,117m) and 30 underground diamond holes (2,331m) focused on extensions to the Golden Age deposit. Milan Jerkovic, Executive Chairman said “Blackham is pleased to announce new drill results from our high-grade Golden Age orebody which have identified significant extensions to mineralisation within 200m of existing underground development. Based on the highly encouraging intercepts, planning has commenced for further drilling to better define the mineralised extensions and to support early underground development to provide additional high-grade ore to feed the Wiluna gold plant, which last quarter produced 20,631oz @ AISC A$1,092/oz”. Background and Programme Details The Golden Age Underground mine is accessed via the Bulletin portal located only 2.5km from the 1.8Mtpa Wiluna gold plant. The Golden Age workings commenced in the 1890’s and approximately 180,000oz @ 9g/t gold has been produced to date, with strong cash flows generated for the Company in the last three quarters. The discontinuous nature of the reef in places led to previous miners not accessing gold mineralisation in some areas previous mined. Recent mining of these remnant areas, armed with a greater understanding of the style of mineralisation, has produced additional gold from Golden Age over the past year. With the orebody now better understood, and the mineralisation open both down dip and down plunge, mining will increasingly target the extensions defined from this drilling. Drill targets were aimed at maintaining a minimum 6-12 month mine life at Golden Age and to subsequently significantly increase mine capacity for the Golden Age mine area. The targets were arrived at following extensive data collation (including additional structural mapping) and a review of the stratigraphic sequence, deformation and mineralising events. Most of the drilling was aimed at defining extensions to the east and below the zone of mineralisation currently being mined. Grade control drilling in the remnant mining areas (at higher RLs) targeted areas where over-lapping, but separate, quartz lodes were previously missed; these remain viable mining targets. | |
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