Blackham Resources Ltd.: Quarterly Activities and Cashflow Report September 2016
31.10.2016 | ABN Newswire
Perth - The Board of Blackham Resources Ltd (ASX:BLK) ('Blackham' or 'the Company') is pleased to provide an update on its activities for the quarter ended 30 September 2016 and thereafter.HIGHLIGHTS INCLUDE:
Matilda Operations
- Open pit mining commenced at the Matilda Mine in July
- Underground mining commenced at Golden Age in July
- Gold plant wet commissioning started in September with first gold production in October
- Focus on ramp up and optimisation of mining and the Wiluna Gold Plant
Large gold resource 48Mt @ 3.3g/t for 5.1Moz (48% indicated):
Large resource base provides flexibility and multiple mine planning opportunities
Expansion Study
- Expansion Study underway aiming to grow production to 175-230kozpa and better monetise the large resource base
Exploration
- Discovery of additional mineralisation at a number of deposits including:
- Extensions at Matilda Mine along strike and down dip
- Extension of high grade ore in the upper levels of Golden Age
- Definition of high grade plunging shoots at Bulletin
- 25,000m Wiluna extension drilling program to be completed by December
- Resources and reserves currently being updated due to drilling success
Corporate
- $25 million raised in placement to fast track expansion plans
- $33.1m in cash at the end of the quarter
- $8 million draw down on Orion debt facility
- Hedging completed - forwards 54,250oz @ A$1,749/oz
To view the full report, please visit:
http://abnnewswire.net/lnk/DYZVZ5IK
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