Blackham Resources Revises East and West Lode Mineral Resource

THE DRILL SERGEANT: Blackham Resources (ASX: BLK) announced a revised Mineral Resource estimate for the East and West lodes at the company’s Matilda/Wiluna gold operation in Western Australia.

Blackham Resources indicated it has Mineral Resource estimates currently underway for the Happy Jack – Bulletin and Adelaide – Moonlight areas, which it expects to be reported later this quarter.

Blackham reported the latest Mineral Resource estimate for the East and West Lodes within an $1,800 per ounce optimised pit shell, based on an additional 30,000 metres of RC and diamond drilling the company completed between January and May 2017.

This drilling provided an improvement in Blackham’s confidence level of the Mineral Resource with 76 per cent now classified in the Indicated category.

Ongoing mining studies, which Blackham anticipates will allow an initial open pit Ore Reserve estimate for the East and West Lode are nearing completion.

“Since drilling commenced in September last year a total of approximately $4 million has been spent on Resource and Reserve definition drilling on the East and West lodes,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.

“In this time, the Mineral Resource has grown 860 per cent in less than a year from 80,000 ounces to 770,000 ounces, of which 76 per cent is classified as Indicated.

“This represents a very attractive resource addition cost of $5.80 per ounce.

“This large resource base provides a very solid basis for the expansion plans with the Expansion PFS to be released this month.”

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au