Blackham Resources Ltd: Wiluna Drilling Reinforces Large Scale Open Pit Potential

Perth - Blackham Resources Ltd (ASX:BLK) ("Blackham") is pleased to announce the assay results from the remainder of the Wiluna drilling program, drilled as part of a 25,000m RC and diamond drilling program undertaken to investigate open pit potential at Wiluna and support the mill expansion study.

The current drilling is from the northern portion of the Wiluna Mine. Drilling has continued to intersect significant mineralisation beneath and along strike from existing Wiluna open pits, highlighting the potential for open pit mining.

Significant results include:

- WURC0135: 15m @ 7.28 g/t from 86m 109 gm

- WURC0129: 5m @ 5.59g/t from 60m 28 gm

- WURC0186: 5m @ 6.66g/t from 97m 33 gm

- WURD0021: 3.6m @ 10.6g/t from 93m 38 gm

These results follow on from the drill results reported to the ASX on 9th November and 7th December 2016 and the upgrade to 6Moz gold resource reported to the ASX on the 13th December 2016. The recent resource upgrade included the East West Lode open pit resource of 8.6Mt @ 2.5g/t for 700,000oz Au at the southern end of the Wiluna Mine. The current drill results will be used to update the resources over the Happy Jack - Bulletin pit and the Adelaide - Moonlight shear.

Blackham is advancing its mining studies over the Wiluna open pit areas with a view to updating its mine plan and publishing its maiden Wiluna open pit reserves. The East West pit resource and initial mining studies suggest the scale of the East West pit has potential for a 1,500m long, 600m wide pit that could extend 230m deep. Initial mining studies also demonstrate the potential for a 1.9km long pit in the Happy Jack - Bulletin area (see Figure 1 in the link below).

Blackham's 100% owned Matilda and Wiluna Gold Operations are located in Australia's largest gold belt. The Wiluna Gold Plant is located in the centre of the combined Operation and can process 1.7Mtpa or ~100,000ozpa (Stage 1). The project contains JORC 2012 Measured, Indicated and Inferred Resources of 58Mt @ 3.2g/t for 6.0Moz Au (refer to ASX release 13th December 2016) in a +1,000km2 tenement package which has historically produced in excess of 4.3 million ounces. A mill expansion study (Stage 2), which is exploring the potential to grow production beyond 200,000ozpa, is in progress.

Drilling beneath and along strike from the Adelaide pit has intersected significant mineralisation including 15m @ 7.28 g/t from 86m in WURC0135 (see Figure 2 and Figure 3 in the link below) and 5m @ 5.59g/t from 60m in WURC0129.

Drilling beneath the Lonehand pit has confirmed the presence of steeply plunging high grade shoots including 3.1m @ 4.86g/t from 107.4m , 8.5m @ 4.38g/t from 123.5m and 6.1m @ 3.33g/t from 137.9 in WURD0023 Figure 3 and Figure 4 in the link below) and 5m @ 6.66g/t from 97m in WURC0186. Mineralisation at Lonehand had previously been interpreted to have been closed off to the northwest, however, results from this program including 4m @ 4.00g/t, 6m @ 1.40g/t and 4m @ 1.34g/t (see Figure 3 in the link below) indicate that the mineralised structure continues to the northwest and remains open.

A single hole drilled to the north of Bulletin where previously mineralisation was interpreted to have been closed off (see Figure 3 in the link below) intersected 3.6m @ 10.6g/t from 93m and 4.2m @ 2.48g/t. A review of the historical drilling north of Bulletin indicates that some of it may not have been effective and there is the possibility that the Bulletin mineralisation may continue along strike.

Results at Starlight (5m @ 4.17g/t from 8m) and Wiluna Queen (9m @ 3.47g/t from 99m) where there has not been any historical mining to support the geological model and will be incorporated in the next resource update.

Gold Resources

The Matilda Gold Project has an updated Mineral Resource of 58Mt @ 3.2g/t for 6.0Moz (48% indicated) all within a 20 kilometres radius of Blackham's 100% owned Wiluna gold plant capable of processing up to 1.7Mtpa for over 100,000ozpa gold production (refer to BLK ASX release dated 13th December 2016). Measured and Indicated Resources now total 28Mt @ 3.2g/t for 2.9Moz.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/99TE8XNK


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:

Blackham Resources Ltd
Bryan Dixon Managing Director
T: +61-8-9322-6418

Bruce Kendall Chief Geological Officer
Blackham Resources Limited
T: +61-8-9322-6418
E: info@blackhamresources.com.au
www.blackhamresources.com.au