Blackham increases Matilda Resource

THE BOURSE WHISPERER: Blackham Resources has received the results of a review and estimate of the mineral resource for the Regent gold deposit near Wiluna, Western Australia from independent geological consultant Runge.

The Regent deposit is part of the company’s Matilda gold project.

 

Matilda gold project tenure plan. Source: Company announcement

The Regent deposit now has a resource of 3.8 million tonnes at 2.2 grams per tonne for 270,000 ounces of gold.

Blackham said the work conducted on the Regent deposit prior to re-estimation has resulted in an upgrade to both the size of the Resource and the company’s confidence in it.

The Regent Indicated resource now stands at 738,000 tonnes at 2.5 grams per tonne gold.

Blackham has reviewed the pit optimisation and reserve reports for the Regent deposit prepared by the previous owners.

The company has indicated it now intends to update mining studies for this deposit at current gold prices and cost parameters.

The new numbers have increased the total Resources for the Matilda gold project to 790,000 ounces of gold.

Blackham’s exploration work on the Matilda gold project is targeting previously defined deposits, which the company anticipates are most likely to be converted to reserves in the near term.

“The Regent deposit shows good continuity of the main mineralised zones allowing the drill hole intersections to be modelled into coherent, geologically robust wireframes,” Blackham Resources said in its ASX announcement.

“Good consistency is evident in the thickness of the structures, and the distribution of grade appears reasonable resulting in a robust deposit.

“Further drilling is necessary to test the down plunge extensions of the deposit.”