Blackham Resources claims new gold discovery at Matilda

THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has claimed the discovery of a new gold zone at the company’s Matilda gold project in Western Australia.

Recent drilling at Matilda – targeting extensions and potential new lode positions – intersected a new zone of shallow high-grade mineralisation to the south of the planned M4 pit cut-back which has now been named the Scorchers Zone.

Best Scorchers zone intercepts include:

8 metres at 5.16 grams per tonne gold from 58m (EOH);

8m at 5.6g/t gold from 49m, including 2m at 16.4g/t gold; and

2m at 5.96g/t gold from 43m.

Blackham said the Scorchers mineralisation plunges gently northwards consistent with the other Matilda lodes and remains open up and down plunge.

“With the recent discoveries of the higher grade Iceberg 2 and Scorchers Lodes immediately to the north and south of the M4 pit design the mineralisation at M4 now stretches over 1,800 metres and is open in both directions,” Blackham Resources said in its ASX announcement.

“These higher grade lodes have been discovered below the historical shallow 20 metre-set depth RAB drilling which generally failed to penetrate the depletion zone.

“The discovery of the Iceberg 2 and Scorchers zones gives our exploration team confidence it will discover further lodes within the Matilda Mining Centre.

“Management expects the Iceberg 2 and Scorchers Lodes to drive the M4 pit further north and south respectively.”

Blackham said the consistency of the high-grade intercepts it has met on each drill section to date suggests the current planned M4 pit design is likely to extend further south into the Scorchers Zone.
As a result of the M4 pit extending further south the chances are high it will merge into the M3 pit.

This will lower the stripping ratio on M3 allowing the company to extend deeper into the higher grade mineralisation immediately below the current designed pit floor.

Blackham indicated further drilling is now being planned to follow up these results as a priority.