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Blackham Resources Ltd.
Summary
| Project: | Matilda | |
|---|---|---|
| Deposit: | Wiluna | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-8-2017: Blackham Resources Ltd. announces a Pre-Feasibility Study report for its Wiluna deposit at the Matilda project. PFS results incl. Pre-tax NPV (8%) of $360M, IRR of 123%, LOM of 9 years. Blackham Resources Ltd ("Blackham” or “the Company") (ASX: | |
| Resources: | (Reserve, Total): 15.2Mt @ 2.5g/t Au for 1.2Moz Au contained at project | |
| CP/QP: | [Resources]: Marcus Osiejak (Internal) | |
| ABSTRACT: | Blackham Resources Ltd ("Blackham” or “the Company") (ASX: BLK) has pleasure in announcing the successful results of the Expansion Preliminary Feasibility Study (PFS) on its 100% owned Matilda & Wiluna Gold Operation (“Operation”). The PFS demonstrates robust economics and improved economies of scale supporting the Operation’s expansion. Historically, over the last 20 years, the Operation has relied predominately on underground feed. Blackham’s comparative advantage to previous operators is the 15Mt @ 2.3g/t Au (85% at Reserve classification) in open pit feed, which is included in the Expansion PFS Mine Plan. Blackham has pleasure in confirming the Matilda/Wiluna Operation’s very strong economics, including a capital efficient expansion, strong returns on investment and operating costs that are in line with its Western Australian peers. The capital efficient nature of the Expansion cost estimate is supported by the substantial plant and mining infrastructure already in place. The Expansion PFS focusses on confirming an improved processing route to bring forward the value of the large scale sulphide resources. The Expansion PFS demonstrates robust economics for the expanded, parallel processing of oxide and sulphide ores. On the completion of the Expansion, the free milling circuit and the sulphide circuit would run in parallel as two processing facilities, with total capacity of up to 3.3Mtpa. Significantly, the estimated capital cost per oz of production is $77/oz, which the Company believes is outstanding compared to industry averages. Blackham will now switch its exploration and drilling focus back to strengthening and lengthening its 3.5 year oxide profile from identified resources and geological targets. This work will be aimed at demonstrating a long reserve backed mine life for both processing circuits and is expected to further improve project economics. | |
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