THE BOURSE WHISPERER: Blackham Resources has had a review and estimate conducted of the mineral resource for the Regent gold deposit .
The JORC–compliant inferred resource for the Regent deposit now sits at 3.5 million tonnes at 2.1 grams per tonne gold for 237,000 ounces of gold.
According to Blackham the new numbers represent a 193 per cent increase for the Regent deposit, situated within the company’s Matilda gold project near Wiluna, Western Australia.
“The defined resource area has a total of 115 drill holes and 20,595 metres of drilling including 43 diamond, 51 RC and 21 aircore holes,” Blackham Resources said in its ASX announcement.
“Blackham is currently reviewing the Quality Assurance / Quality Control and data validation for the existing drill database to determine whether part of the resource can be increased in confidence to an indicated level.”
Blackham has carried out a review of the pit optimisation and reserve reports prepared by the previous owners for the Regent deposit.
The company said it intends to update mining studies for Regent at current gold prices and cost parameters.
Revised gold resources at the Matilda gold project. Source: Company announcement
Blackham recently completed a maiden 2,000 metre drilling program at the Matilda Mine Centre that targeted shallow oxide mineralisation along strike from existing pits.
The company is scheduled to commence a further 2,000m RC drill program next week.