Blackham Resources Ltd. Progresses Exploration at Lake Way

Perth, Australia - Blackham Resources Ltd (ASX:BLK) is pleased to report on exploration targets defined from detailed gravity and passive seismic geophysical surveys completed at the Matilda Gold Project.

Highlights:

- Multiple greenfields exploration targets from geophysics

- Blackham's exploration programme aiming for +10 year mine life

Blackham's greenfields exploration programme is designed to build upon the current 8 year mine life at the Matilda Gold Project through the discovery of additional free-milling ore close to the planned Williamson and Matilda mines.

The geophysical survey results provide an additional layer of subsurface information to map geology, structure and regolith and to assist with targeting gold exploration, which has historically been complicated by the salt lake location and alluvial cover at Lake Way. Previous drilling was broad spaced with limited multi-element analysis. Lateral dispersion of gold beneath the lake sediments will be limited due to the stripped nature of the regolith profile and only holes that directly intersected mineralisation are likely to have returned anomalous gold results. Consequently, many areas have not been adequately tested and potential remains for significant 'blind' deposits to be discovered under the lake cover.

Gold Targets

Blackham has completed ground-based gravity and passive seismic surveys over 158km2 of prospective tenure in the Lake Way district, which contains Williamson (7Mt @ 1.6g/t for 360koz) and Regent (3.9Mt @ 2.2g/t for 270koz) gold deposits and Carroll Prior Prospect (Figure 1, see link below). The gravity and passive seismic surveys were designed by Blackham and geophysical consultants Resource Potentials Pty Ltd. Acquisition was carried out by Atlas Geophysics Ltd.

Blackham has integrated the survey data with existing aeromagnetics, geology, regolith and drilling datasets to define 25 target areas, including 12 high-priority target areas for immediate follow-up (Figure 1).

Follow-up activities will include initial auger, aircore and RC exploratory drilling, with multi-element analysis for a suite of pathfinder elements including As, Sb, Te, Bi, W, Ag, Cu, Pb, Zn.

Gravity and Passive Seismic Geophysics

The gravity technique assists in detecting low-density Au-mineralised granitoids that are not detectable in magnetic surveys, along with deep paleochannels, greenstone units and structures. The Tromino passive seismic survey has provided differentiation between prospective low-density granitoids and non-prospective low-density paleochannels.

Prospective granitoids and structures will produce a gravity low compared to the high gravity responses of the surrounding greenstones. Structural inflections are also a key aspect of the target model; gravity data has therefore been interpreted in conjunction with other datasets to target granitoid bodies at favourable structural locations.

Williamson, Carroll & Prior

Williamson gold mine and Carroll and Prior Prospects are part of a large mineralised system located around Lake Way 20km south of the Wiluna processing plant. The Williamson gold resource currently stands at 7.0Mt @ 1.6 g/t Au for 360,000oz, with metallurgical recoveries of 95% recorded from Williamson in the recently completed Definitive Feasibility Study.

Numerous significant intercepts recorded in sparse historical drilling along strike of Williamson and at Carroll and Prior are listed in Figure 2 (see link below). The Williamson Deposit was historically mined at widths of up to 40m by open pit, producing 42koz @ 2.0 g/t Au.

Blackham's exploration programme is designed with the goal of developing greater than 10 years of mine life at the Matilda Gold Project.

Blackham's Managing Director, Bryan Dixon commented:

"Blackham is very encouraged by the anomalies identified in the gravity and seismic survey. The Lake Way area is a very large free milling gold system with exploration in the past has been masked by the lake sediments. 92,000m of mainly air core drilling has proven the system is mineralised. Blackham's has completed only 5,000m of reserve drilling into Williamson which is the only drilling into the Lake Way gold system in the last 9 years. The gravity and seismic survey should significantly improve the efficiency of Blackham's drill targeting."

To view tables and figures, please visit:
http://abnnewswire.net/lnk/J6VOZS23

About Blackham Resources Ltd:

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 incorporates over 780 square kilometres of tenements including Regent and the Matilda and Williamson Gold Mines containing total JORC 2012 resources of 44Mt @ 3.3 g/t for 4.7 Moz ounces of gold. These tenements cover around 45 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine & Coles Find Sequence has historically produced 4 million ounces of gold.



Contact:

Blackham Resources Ltd
Bryan Dixon, Managing Director
T: +61-8-9322-6418
E: info@blackhamresources.com.au
www.blackhamresources.com.au

Tony Dawe, Professional Public Relations
T: +61-8-9388-0944