Blackham continues Matilda Resource growth
THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has updated resource estimates for the Golden Age and Galaxy deposits at the company’s Matilda gold project near Wiluna in Western Australia.
The two deposits now combine for a total of 1.85 million tonnes at 3.6 grams per tonne gold for 216,000 ounces of gold.
The Golden Age resource starts close to surface and now stands at 1.06 million tonnes at 4.4g/t gold for 150,000 ounces of gold.
The Golden Age deposit has existing access via the Bulletin decline less than three kilometres from Blackham’s 100 per cent-owned Wiluna gold plant and was still being mined up until the closure in June 2013 of the Wiluna plant, which Blackham plans to restart in mid-2016.
The Golden Age middle zone, where Blackham intends to commence mining, contains a high grade resource of 185,000 tonnes at 9g/t gold for 53,000 ounces sitting just off the existing mine development.
The increase to the Galaxy Resource has taken it to 787,000 tonnes at 2.6g/t for 66,000 ounces.
The Galaxy quartz reef is initially planned to be mined by open pit methods.
The Galaxy deposit is located 13 kilometres from the Wiluna plant.
Mining studies completed to date indicate the high-grade resource from surface to be suitable feed for the Wiluna plant.
Recent metallurgical studies for Golden Age and Galaxy – part of the ongoing Definitive Study for the project – have confirmed strong results with gravity and cyanide leach recoveries ranging from 93 to 96 per cent.
“The Golden Age and Galaxy resources are both important sources of high grade free milling ore for the initial years of the Matilda project mine plan,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.
“Golden Age has all the required underground infrastructure already in place.
“From the mining and processing studies conducted to date, the high grades and strong recoveries from these orebodies plus the base load Matilda mine ore will provide important cash flow to quickly payoff the low capital cost needed to re-commission the Wiluna gold plant.”
The total Matilda gold project Resources now measure 44 million tonnes at 3.3g/t gold for 4.63 million ounces of gold all situated within a 20km radius of the Wiluna gold plant.
Measured and indicated Resources now total 20 million tonnes at 3.5g/t gold for 2.2 million ounces.
Email: info@blackhamresources.com.au
Website: www.blackhamresources.com.au