Blackham Resources extends Matilda gold zones

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THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has received results from the latest drilling program carried out at the company’s Matilda gold project in Western Australia.

Assay results have come in from the first eight RC holes of a 50 hole program at the Matilda Mining Centre, which targeted the extensions of the M4 lode.

Highlights include:

MARC0183
8 metres at 5.84 grams per tonne gold from 46m and 16m at 2.44g/t from 68m;

MARC0182
6m at 2.21g/t gold from 57m and 8m at 2.84g/t from 74m;

MARC0179
7m at 3.86g/t gold from 38m;

MARC0181
5m at 1.78g/t gold from 26m;

MARC0176
4m at 3.11g/t gold from 32m;

MARC0180
6m at 1.64g/t gold from 24m; and

MARC0178
8m at 1.36g/t gold from 24m.

Blackham explained holes MARC0176 to MARC0183 targeted the M4 lode north of the planned M4 pit with all intercepting gold mineralisation in the newly confirmed Iceberg 2 zone.

The company said the drilling is in line with its focus on free-milling gold targets and resources within open pit or shallow underground depths, close to the Wiluna plant and infrastructure that are capable of being bought into the early years of the mine plan.

The current drilling and mining studies are focusing on the extension of the Matilda Mine resources, which currently stand at 13 million tonnes at 1.8g/t gold for 760,000 ounces as a base load feed of soft free milling ore for the 1.3 million tonnes per annum Wiluna plant.

The recently confirmed Iceberg 2 zone sits outside of Matilda project’s initial Mineral Inventory of 5 million tonnes at 2.8g/t gold for 454,000 contained ounces of gold.

Blackham said Iceberg 2 represents another opportunity to grow the Matilda project mine life beyond its current four years.

“The recent drill results at the Matilda M4 has proven the historical RAB drilling in this area is ineffective due to the near surface depletion zone,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.

“These RAB results are however a very useful tool in finding new lodes within in the Matilda Mining Centre.

“Management are confident of continuing to grow the Matilda mine life very cheaply in this area whilst mining studies progress on the other orebodies.

“The goal is to convert a critical mass of free milling resources into reserves to enable us to re-commission the Wiluna plant.”

Email: info@blackhamresources.com.au

Website: wwwblackhamresources.com.au