Blackham Resources Extends Golden Age Underground Mine Plan

THE DRILL SERGEANT: Blackham Resources (ASX: BLK) announced it has extended the Golden Age Underground mine plan at the company’s Matilda gold operation in Western Australia for a further 6 months to December 2018.

Blackham Resources became owner operator miner in the Golden Age Underground in October 2017, and by doing so reduced mining costs and risk.

At the same time, Blackham commenced evaluation of the economics of the remaining Golden Age Underground resource of 0.9 million tonnes at 4.5 grams per tonne gold for 129,000 ounces of gold.

The company explained these mining studies have now added another 24,600 tonnes at 6g/t gold for 4,700 ounces of production it now has targeted between July to December 2018.

This additional targeted production is incremental to Blackham’s previously disclosed underground mine plan which finished in June 2018.

Blackham’s revised figures show production is now expected to continue to produce approximately 2,500 ounces of gold per quarter through to at least December 2018.

Historically, the Golden Age Underground has produced 160,000 ounces at 9g/t gold.

Since recommissioning this mine, Blackham has produced 19,500 ounces of gold at 4.7g/t gold.

Since moving to predominately airleg mining in October last year, Blackham has increased the average mined grade to 8.1g/t gold.

IN the past eight months, Blackham’s geology team has identified several priority targets.

Underground drilling will commence this week aimed at further extending the mine plan and potentially allowing an increased mining rate.

“Blackham has successfully added another six months to the Golden Age Underground mine plan and is aiming to maintain a six to 12 month rolling mine plan going forward,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities exchange.

“This week drilling with commence down dip and down plunge from where we are currently mining strong grades at Golden Age.”