THE BOURSE WHISPERER: Blackham Resources (ASX: BLK) announced a resource estimate update for the company’s Matilda mining centre, located near Wiluna in Western Australia.
The Matilda mine resource now totals 12.9 million tonnes at 1.8 grams per tonne gold for 724,000 ounces of gold with the Measured and Indicated resource now totalling 7.6 million tonnes at 1.8g/t gold for 439,000 ounces of gold.
Blackham is currently into a Definitive Mining Study on the updated resource at the Matilda mine.
Studies completed to date on the current resource indicate the shallow mineralisation at Iceberg 2 and Scorchers prospects immediately to the north and south of the M4 Pit influence the optimisations to extend in each direction.
Recent drilling carried out at the M3 and M1 South prospects has pushed these pits wider and deeper.
Currently 90 per cent of the in-pit resource is in the Measured and Indicated categories.
Blackham is currently drilling a RC program at the Matilda mine to upgrade Inferred lodes to Indicated as identified within the DFS pit optimisation as well as targeting further repeating and stacked lodes along the seven kilometres of strike.
“The increase in the Measured and Indicated resources at the Matilda mine gives us further confidence that the Matilda mine will keep growing,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.
“We continue to find repeat and stacked lodes along the deeply weathered Matilda system.
“The Matilda mine is shaping up as an important source of base load free milling ore to re-commission the Wiluna gold plant.”