Blackham Resources updates Matilda Resource

THE DRILL SERGEANT: Blackham Resources (ASX: BLK) has updated the resource estimate for the company’s Matilda Mining Centre near Wiluna in Western Australia.

The Matilda Mine resource now totals 12.5 million tonnes at 1.8 grams per tonne gold for 713,000 ounces of gold.

The Measured and Indicated resource now sits at 7.26 million tonnes at 1.8g/t gold for 424,000 ounces of gold.

Blackham indicated the new totals represent a 40 per cent increase in Indicated and Measured ounces on the previous resource estimate for zones M1 through M5.

“The increase in the Measured and Indicated resources at the Matilda Mine gives us further confidence for the mining studies and allows the management team to move quickly with the next phase of feasibility studies,” Blackham Resources managing director Bryan Dixon said in the company’s announcement to the Australian Securities Exchange.

“The Matilda Mine is shaping up as an important source of base load free milling ore to re-commission the Wiluna gold plant by Quarter Two, 2016.”

Blackham is continuing its mining studies on the new Matilda mine resource with initial assessments on the current resource indicating the recent discoveries of shallow mineralisation at Iceberg 2 and Scorches Lodes immediately to the north and south of the M4 Pit influence the optimisations to extend in each direction.

The company is currently conducting around 2,000 metres of diamond drilling at the Matilda mine to upgrade the resource confidence, geotechnical and metallurgy.

Additional RC drilling is planned to infill the new zones to ensure any additional mineralisation is included in the next resource update.

Email: info@blackhamresources.com.au

Website: www.blackhamresources.com.au