Blackham Resources confirms Iceberg Zone at Matilda gold project
THE DRILL SERGEANT: Blackham Resources Ltd (ASX: BLK) has received encouraging results from ongoing drilling at the company’s Matilda gold project in Western Australia.
Blackham is conducting a RC drilling program at the Matilda Mining Centre focussing on the M1, M2, M3 and M4 deposits.
The company said the latest results had complemented earlier results it had released earlier this month.
The latest drilling in the area north of the M4 pit has encountered further thick zones of mineralisation that now extend over 250m of strike.
The company has named this zone the Iceberg Zone due to the fact it has limited appearance near surface but grows at depth.
M4 Grade-width long section, highlighting the Iceberg Zone. Source: Company announcement
Latest results here include a high-grade zone of 3 metres at 11.4 grams per tonne gold from 171 metres and 12 metres at 2.84g/t gold from 180m, including 2 metres at 9.15g/t gold from 180 metres.
To date this is the deepest drill intercept Blackham has recorded at the Iceberg Zone.
The intercept is supported by the re-entry and extension of an earlier hole, which returned 23m at 2.66 g/t gold from 119m.
A continuous zone of mineralisation has also been identified in the hanging wall of the main lode with intercepts including 1m at 12.5g/t gold from 132m and 9m at 2.48g/t gold from 165m.
“Extensions of mineralisation have also been found in an area between the M1 and M3 pits,” Blackham said in its ASX announcement.
“These lodes may provide additional sources of near-surface ore to be exploited while targeting the main lodes of M1 and M3 at depth.”
Better results include:
2m at 2.99g/t gold from 34m; and
3m at 5.07g/t gold.
“The M4 deposit has been identified as a priority area to recommence mining operations at the Matilda Mining Centre,” Blackham said.
“The company will be updating the resource model and reviewing the mining economics of this deposit in the near future.”
Blackham’s resource inventory at the Matilda gold project is currently 25 million tonnes at 1.9g/t gold for 1.5 million ounces of gold, which includes 14 million tonnes at 1.8g/t gold for 784,000 ounces of gold at the Matilda Mining Centre.
Blackham indicated drilling is continuing at the Matilda project with the focus now turning to the M1 Pit, which historically has been the highest grade and largest producer (1.5 million tonnes at 2.54g/t gold for 121,000 ounces) of the seven pits at the Matilda Mining Centre.