Blackham Resources encounters more high-grade gold at Bulletin

THE DRILL SERGEANT: As Blackham Resources (ASX: BLK) gets closer to first gold production from the company’s Matilda gold project in Western Australia, the company has announced encouraging results from underground drilling at the Bulletin mine.

Blackham said drilling from the Bulletin Decline has continued to produce excellent results between the historical stopes including:

6 metres at 26.4 grams per tonne gold, including 1.8m at 83.3g/t gold;

15.6m at 7.51g/t gold, including 9.5m at 8.27g/t gold; and

8m at 7.05g/t gold, including 2.5m at 9.75g/t gold.

Blackham said the diamond drill program was designed to infill the lode identified in previous drilling between two historical stoping areas.

The current program hopes to allow resources to be upgraded from unclassified or Inferred to Indicated.

Prior to this drilling the Bulletin ore reserve was estimated at 938,000 tonnes at 4.7g/t gold for 142,000 ounces of gold.

Blackham expects these results to upgrade existing resources from the Inferred to Indicated category, leading to further ore reserve additions.

“The latest Bulletin drilling has demonstrated the potential to continue growing the Wiluna resources close to surface,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.

“An updated Bulletin resource is likely to compliment the work we are doing on the Wiluna open pits with both feed sources be integrated into the Wiluna expansion study currently underway.”