Blackham Resources Ltd.: High Grade Intercepts at Golden Age

Perth - Blackham Resources Ltd (ASX:BLK) ("Blackham") is pleased to announce the latest results received from underground drilling at the free milling, quartz vein hosted Golden Age deposit with numerous high grade results returned between and along strike from historical stopes including:

- 1.9m @ 38.6g/t Au incl 0.9m @ 80.6g/t (73g*m) (GAUD0063)

- 3.7m @ 17.1g/t Au incl 1.0m @ 28.8g/t (63g*m) (GAUD0062)

- 1.9m @ 12.91g/t Au (25g*m) (GAUD0025)

- 2.0m @ 13.4g/t Au incl. 1.0m @ 25.6g/t (27g*m) (GAUD0026)

- 2.7m @ 8.63g/t Au incl 2.0m @ 11.3g/t (23g*m) (GAUD0034)

The diamond drill program was designed to test the grade and continuity of the Golden Age lode between two historical stoped areas outside the current resource. This program is likely to yield a Reserve increase for this portion of Golden Age, situated just 400m below surface and easily accessible from the existing decline.

Several holes also intersected the Lennon sulphide lode along strike from existing Indicated Resources. Results returned from the Lennon Lode include:

- 6.0m @ 5.15g/t Au (31g*m) (GAUD0061)

- 6.1m @ 10.50g/t Au incl 1.0m @ 54.4g/t (64g*m) (GAUD0062)

- 12.0m @ 7.40g/t Au (89g*m) (GAUD0063)

A total of 39 underground drill holes for 2726.5m have been completed.

Prior to this drilling the Golden Age ore reserve was estimated at 112,000t @ 6.0g/t for 21,000oz (refer to ASX announcement dated 17th June 2016). These results are expected to increase the Golden Age Mineral Resource, leading to further ore reserve additions.

The Golden Age deposit forms part of Blackham's 100% owned Matilda Gold Project in Western Australia. Dry commissioning of the Wiluna gold plant has recently commenced with gold production targeted shortly.

Blackham's Managing Director, Bryan Dixon, said "The latest Golden Age drilling is likely to add further grade profile to the mill feed during the first 2 years of production. The latest mineralisation which is outside the current resource is easily accessible just above the existing Golden Age reserves where mining activities commenced in July. The mining study over this new area is being prioritised."

GOLDEN AGE UNDERGROUND DRILL RESULTS

A total of 39 holes for 2726.5m have been drilled to identify additional resources at the Golden Age deposit. Results indicate that additional high grade ore exists between and along strike from existing stopes with better results including 1.9m @ 38.6g/t Au from 48m including 0.9m @ 80.6g/t in GAUD0063, 3.7m @ 17.1g/t Au from 41m including 1.0m @ 28.8g/t in GAUD0062, 1.9m @ 12.9g/t Au from 46.2m in GAUD0025, 2.0m @ 13.4g/t Au from 47.2m including 1.0m @ 25.6g/t in GAUD0026, 2.7m @ 8.63g/t Au from 59.0m including 2.0m @ 11.3g/t in GAUD0034 and 1.3m @ 8.29g/t Au from 52m including 0.6m @ 23.7g/t in GAUD0055. (see Figure 1 in link below).

Golden Age is a high-grade, free milling, quartz hosted ore body located within the mineralised Wiluna Fault System. Golden Age is a steeply dipping ore body changes strike from east-west to north-south as it gets closer to and wraps into the East Shear.

Blackham's drilling has established gold continuity in an area between the high grade historical stopes and is expected to extend the Golden Age Mineral Resource. Blackham's strategy is to identify shallow ore reserves within 500m from surface. These high-grade results come from an area situated less than 400m below surface. The Golden Age lode remains accessible via the Bulletin portal and decline and will be the first area mined from underground.

Additional mineralisation has also been intersected in several holes along strike from the Lennon sulphide lode including 6.0m @ 5.15g/t Au from 0m in GAUD0061, 6.1m @ 10.50g/t Au from 0m (including 1.0m @ 54.4g/t) in GAUD0062 and 12.0m @ 7.40g/t Au from 0m in GAUD0063 (see Figure 2 in link below).

Results of all assays received from this program are given in Table 1 (refer to link below).

These results will be incorporated into an updated resource which will be used for the estimation of additional reserves previously defined within close proximity to current infrastructure. In addition, the Wiluna expansion study will also incorporate this data as part of a modelling and estimation process over the other deposits in close proximity to the Wiluna Gold Plant.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/HMDWVT3W


About Blackham Resources Ltd:

Blackham Resources Limited (ASX:BLK), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. Matilda €™s resources of 48Mt @ 3.3g/t for 5.1Moz, all within a 20km radius of its gold plant currently being re-commissioned. The Matilda Gold Project incorporates over 780 square kilometres of tenements and cover around 55 kilometres of strike along the Wiluna and Coles Find Mine Sequences. The Project has historically produced 4.3 million ounces of gold



Contact:

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

David Tasker / Tony Dawe
Professional Public Relations
T: +61-8-9388-0944