THE BOURSE WHISPERER: Blackham Resources is conducting a review of nickel potential at the company’s wholly-owned Fraser Range project following the recent discovery of the Nova deposit by Sirius Resources.
Blackham’s Fraser Range project lies approximately 20 kilometres from Nova, east of Norseman in Western Australia.
Blackham conducted drilling at Zanthus in January 2011 resulting in the completion of 18 aircore holes for 794 metres.
Drilling delineated the Zanthus lignite deposit of 350 million tonne with an average calorific value of 7.90 mega joules per kilogram.
This drilling penetrated basement rocks which Blackham routinely analysed for a suite of 36 elements including nickel and associated elements.
The company believes this geochemical data provides an advantage in the search for nickel discoveries similar to the Nova deposit.
Blackham said it remains committed to developing the Matilda gold project and may look at joint venture opportunities to unlock the potential mineral value at Fraser Range.
Blackham yesterday announced an update of resources at Matilda which have grown to 922,000 ounces of gold.