Blackham Resources Limited Drilling Extends Matilda Lodes

Perth, June 11, 2013 (ABN Newswire) - Blackham Resources Ltd. (ASX:BLK), is pleased to announce latest results from drilling at the Matilda Gold Project in Western Australia. Blackham has undertaken a large RC drilling campaign at the Matilda Mining Centre to extend and increase the confidence of the existing resource. The Matilda Mining Centre has a Measured, Indicated and Inferred Resource of 13.8 Mt @ 1.8 g/t for 784,000oz (See Table 1 in link below).

Good results continue to flow from extension drilling at the M1 pit while targeting of the M4 lode at depth has also identified significant hanging wall mineralisation which will have a positive impact on open pit economics. A full table of recent results can be found in Appendix A in link below.

Blackham recently released an exceptional result of 35m @ 5.05 g/t Au in hole MARC0138 beneath the existing M1 pit (refer announcement of 13th May 2013). This result was from the hinge of the Central Lode anticline which characteristically is the highest grade portion of the lode. Subsequent results in this release are from the limbs of the anticline which is a broad mineralised zone with a higher grade core. New results from the limbs include 13m @ 3.20 g/t from 119m including 6m @ 4.38 g/t from 123m (MARC0140), 10m @ 2.40 g/t from 176m including 3m @ 4.76 g/t from 177m (MARC 0127), 3m @ 4.50 g/t from 123m and 7m @ 2.93 g/t from 131m (MARC0141).

The hinge zone is a priority target for further exploration and these recent results will help vector towards high-grade mineralisation (Figure 1 in link below). Drilling beneath the existing pit is currently too widely spaced and appears to have missed the core of the hinge zone. Planning of follow-up holes is well underway and will commence as soon as possible.
Drilling at M4 has defined the "Iceberg Zone" beneath the existing pit which has also identified a continuous hanging wall lode. Blackham has just received the best results for this lode so far of 4m @ 7.51 g/t from 56m (MARC0130) and 3m @ 6.24 g/t from 51m (MARC0132), located at the southern end of the M4 pit.

The shallow depth of this mineralisation is expected to have a positive effect on open pit economics by reducing the amount of overburden previously thought to be waste (Figure 2 in link below). Further, the hanging wall structure has not been constrained by drilling and remains open along strike to the south. This structure has potential for hosting a new deposit in its own right.

Blackham's resource inventory at the Matilda Gold Project is currently 25Mt at 1.9g/t for 1.5Moz Au (see Table 1 in link below). The Matilda Mining Centre resource has grown from 68,000oz at acquisition in November 2011, to 14Mt @ 1.8g/t for 784,000oz Au.

Recent drilling will be added to the resource model in due course. This is expected to add more ounces to the total endowment and shift a portion of resources from the Inferred to Indicated categories. The Company is encouraged by exploration opportunities that are still present at Matilda, particularly high-grade mineralisation at M1 and the Iceberg Zone at M4.

Other opportunities exist outside the current mining area and the company is currently reviewing the previous exploration with a view to further drill programmes later in the year.

To view tables and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-638218.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