THE BOURSE WHISPERER: Blackham Resources has completed a review of existing deposits at the Matilda gold project, which has identified 601,000 ounces of existing resources within the project area, including 301,000 ounces of resources remaining at the Williamson Mine since the completion of mining.
Blackham acquired the Matilda gold project in November 2011, including the Matilda and Williamson gold mines and numerous other deposits and prospects.
The project covers over 600 square kilometres surrounding the operating Wiluna gold mine owned by Apex Minerals.
This region has produced over 4 million ounces of gold with Apex reporting the Wiluna gold mine resource in its 2010 annual report as 12.7 million tonnes at 5.4 grams per tonne gold.
The Williamson gold mine was operated by Agincourt Resources during 2005‐2006 with production reported by Agincourt of approximately 23,000 ounces.
The Williamson Pit strikes over 700m and extends to a depth of approximately 90m at its deepest point.
Oblique view of the Williamson Pit and mineralisation (Green 1‐3 g/t,
Red 3‐5 g/t, Magenta greater than 5g/t). Source: Company announcement
According to Blackham mineralisation continues along strike and beneath the pit and has been modelled to approximately 250m.
“Further drilling is warranted at Williamson to improve the resource status into Indicated and Measured categories before commencing feasibility studies with modern economic parameters,” Blackham Resources said in its ASX announcement.
“High grade zones at depth provide encouragement for underground mining.
“Importantly, metallurgical test work at Williamson has identified the ore as free‐milling; therefore the ore should be easily recoverable using conventional extraction techniques.”