Blackham Resources upgrades Williamson Resource

THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has upgraded the Resources at the Williamson Mining Centre, which is part of the company’s Matilda gold project in Western Australia.

Blackham explained it had conducted the resource upgrade was conducted in order to improve the company’s confidence in the geological model and to allow scoping studies to be completed.

The new Williamson Resource – including the Williamson South deposit – is 6.3 million tonnes at 1.7 grams per tonne gold for 350,000 ounces, of which 2.7 million tonnes at 1.7g/t gold for 147,000 ounces has been promoted to the Indicated category.

The company said its increased confidence in the block model was the result of adding the grade control data and 15 additional RC & Diamond holes since the previous block model was calculated.

The new data has taken the Matilda gold project resource to 25 million tonnes at 1.9g/t gold for 1.5 million ounces with 408,000 ounces in Measured and Indicated categories.

 

Source: Company announcement

 

This represents an increase of 57 per cent over the previous estimate the company released in January 2013.

“Management believe there is significant potential to make additional improvements in the confidence of the Williamson Resource Model as well as increase the resources which are open both along strike and at depth,” Blackham Resources said in its ASX announcement.

“Exploration programs are currently being planned to test these targets.

“A review of targets within the Williamson region is also underway.”