Blackham Resources Limited - Williamson Gold Resource Upgrade

Perth, May 9, 2013 (ABN Newswire) - Blackham Resources Ltd (ASX:BLK) is pleased to report the latest upgrade in resources at the Williamson Mining Centre which is part of Blackham's Matilda Gold Project.

Independent geological consultants, RungePincockMinarco were commissioned to complete the resource update. The resource upgrade was conducted primarily to improve confidence in the geological model and to allow scoping studies to be completed. The new Williamson Resource (including the Williamson South Deposit) is 6.3Mt @ 1.7g/t Au for 350,000oz of which 2.7Mt @ 1.7 g/t Au for 147,000oz is now in the Indicated category. The increased confidence in the block model was the result of adding the grade control data and 15 additional RC & Diamond holes since the previous block model was calculated.

Full details of the new Resource Estimate and parameters can be found in the link below.

The Matilda Gold Project resource now stands at 25Mt at 1.9g/t Au for 1.5Moz with 408,000oz in Measured and Indicated Categories, an increase of 57% over the previous estimate released in January 2013. Blackham's revised gold resources at the Matilda Gold Project are summarised in the link below.

The three main deposits in Matilda, Williamson and Regent have all been estimated by RungePincockMinarco.

Mineralisation occurs as weakly disseminated sulphides within a broad anomalous envelope around a north striking/east dipping monzogranite. Higher grade sulphide and visible gold mineralisation is associated with the shearing on the contacts of the granite and also within the main west dipping shear that intersects the monzogranite. Mineralisation within the monzogranite body varies from broad low grade disseminated sulphides in the monzogranite to high grade veins formed within fractures (possibly conjugate) containing visible gold.

Alteration ranges from weak carbonate chlorite alteration distal to the main structure to strong hematite carbonate silica pyrite alteration associated with high grade mineralisation.

The ore body is almost vertical with up to 40 metre true widths. Over 2,000 drill holes were used in the Resource Estimate. Resource wireframes were interpreted by RPM after close consultation with Blackham. The resource outlines were based on mineralisation envelopes prepared using a nominal 0.35g/t Au cut-off grade.

Weathering surfaces for the major oxidation states were created on interpretation of historical drilling logs.

The resource was classified as Indicated and Inferred Mineral Resource based on data quality and drill sample spacing. The Indicated portion of the resource was defined where the drill spacing was predominantly at 10m by 20m, and continuity of mineralisation was strong. Portions of the resource have also been drilled by close-spaced grade control on 5m sections. These Indicated areas are likely to be upgraded to Measured once the data quality has been confirmed by the company. Importantly, the Indicated portion of the resource is immediately below the existing pit which will facilitate studies of the open-pit cutback potential.

Management believe there is significant potential to make additional improvements in the confidence of the Williamson Resource Model as well as increase the resources which are open both along strike and at depth. Exploration programmes are currently being planned to test these targets. A review of targets within the Williamson region is also underway.

To View all tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-635064.pdf


About Blackham Resources Limited

Blackham Resources Limited (ASX:BLK), a Western Australian resources company, is focused on exploration and development at the Matilda and Williamson Gold Mines in the Wiluna gold belt of Western Australia. The Matilda Gold Project contains resources of 24.5Mt @ 1.90g/t gold. The tenure package covers 50km of strike along the Wiluna Mine sequence and Coles Shear which has produced over 4Moz of gold. Blackham have the largest landholding (>500km2) in the Wiluna goldfield, one of Western Australia’s major Archaean greenstone belts. Blackham aims to delineate a multi-million ounce gold resource and targeting converted resources to reserves in the near term.



Contact

Blackham Resources Limited
T: +61-8-9322-6418
F: +61-8-9322-6398
WWW: www.blackhamresources.com.au