Blackham confirms shallow high grades at Galaxy

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THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has received the first results from initial drilling being carried out on the Galaxy deposit at the company’s Matilda gold project in Western Australia.

Blackham’s resource inventory at the Matilda gold project currently stands at 24 million tonnes at 1.9 grams per tonne gold for 1.4 million ounces of gold.

 

Source: Company announcement

 

The company explained this is the first drilling it has conducted at Galaxy, which has a resource – based on previous exploration – of 52,000 ounces of gold.

The program was designed to test potential near-surface extensions of mineralisation at Galaxy as well as potential new resource areas at Mentelle and Matilda.

So far assays have been received for the first 16 holes of the program, which were drilled at Galaxy, while further results are expected from additional drilling at Mentelle and Matilda in the coming weeks.

The drilling has so far achieved a number of high-grade results, including:

GARC0011:
4 metres at 19.6 grams per tonne gold from 37 metres, including 1 metre at 43.3 grams per tonne gold from 37 metres;

GARC0013:
2m at 9.58g/t gold from 15m; and

GARC0016:
2m at 12g/t gold from 9m.
 
The company claims these widths and grades are consistent with historical drilling, while indicating mineralisation intersected in GARC0011 is outside the current resource.

Blackham considers this demonstrates potential for identifying new lodes and greatly improving mining economics.

The company is continuing to interpret the results, although it is confident, at this stage, that further drilling is warranted to delineate the additional lodes identified in this drilling in order to confirm the orientation of high-grade mineralisation.

“The Galaxy deposit is a modest sized resource although strategically important due to its high-grade and expression at surface,” Blackham Resources said in its ASX announcement.

“The company envisages future drilling to involve a combination of exploration for new lodes as well as infill drilling to facilitate a new estimate with a higher degree of confidence.”

Website: www.blackhamresources.com.au