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Blackham Resources Ltd.
Summary
| Project: | Matilda | |
|---|---|---|
| Deposit: | Wiluna | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-5-2018: Blackham Resources Ltd. announces an Exploration/Drilling Update report for its Wiluna deposit at the Matilda project. Drilling results incl. 22m @ 3.29g/t Au from 97m. Blackham Resources Limited (ASX: BLK) (Blackham or the Company) is pleased t | |
| 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 initial drill results from the Wiluna free milling deposits. During March’18 and April’18, Blackham’s exploration team drilled 130 RC holes (11,446m) focused on delineating further free milling open pit reserves over the 3.7km’s of strike at the Wiluna Mine. Wiluna Mine drilling is expected to conclude in mid-May and resources will be re-estimated at that time. This is a follow up programme on the 77,000m of drilling completed during 2017, which successfully delivered probable reserves of 669,000oz (7.7Mt @ 2.7g/t Au). Resources and reserves within the Wiluna Mine footprint are currently being updated to include the drilling results. All of the historic open pits at Wiluna were processed through the CIL plant with the exception of the 2007 East pit cut back. Current drilling is focused on free milling ores above the top of fresh rock (generally top 60m) that metallurgical testwork has confirmed are an attractive feed for the Wiluna CIL plant which last quarter produced 20,631oz @ AISC A$1,092/oz. Pit optimisation studies completed immediately prior to this drilling demonstrate the potential for open pit cutbacks and new open pits to be developed at the Wiluna mine site. The $1,400 and $1,800 shells are similar in extent, which shows open pit mining is expected to be economic at a range of potential gold prices (Figure 1). These latest drilling results are expected to support substantial increases to open pit resources and reserves within open pits. | |
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