Blackham Resources Ltd: Drilling High-Grade Extensions to Free-Milling Targets
12.11.2019 | ABN Newswire
Perth, Australia - Blackham Resources Ltd. (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) is pleased to provide an update of resource and reserve development initiatives targeting high-grade, free-milling ore bodies in close proximity to Blackham's Wiluna plant.Highlights
- Free-milling underground resource and reserve drilling program commenced, multiple high-grade targets
- Wiluna free-milling underground continues to deliver: Sep'19 Qtr 4,958oz mined (Jun'19 Qtr: 3,600oz)
- Drill program is targeting extending underground free-milling life of mine to 12-18 months and beyond
- Wiluna free-milling pits extended with Golden Age pit cut-back initiated during October
An underground diamond drilling contractor has commenced drilling the reserve extension targets of what is planned to be an initial 13-hole program, with results expected to be received and modelled in the December quarter.
Underground mining operations at Golden Age continue to deliver and the extraction of ore in the Sep'19 quarter totalled 4,958 mined oz (29,773t at 5.2g/t) (Jun'19 Qtr: 29,026t @ 3.9g/t for 3,600oz). Golden Age has successfully been extended on a rolling 6 month basis since underground operations began in 2016. The initial program will test extensions for immediate mining, with targets intended to be brought into the mine plan over the next 12-18 months and beyond (Figure 1*).
The Company has quantified an exploration target totaling between 87koz to 317koz for the Wiluna free-milling targets (refer Table 1* for further details). There has previously been insufficient exploration to define mineral resources and it is uncertain if further exploration will result in the determination of mineral resources. Exploration targets have been quantified using a range of parameters including extent of existing resources, strike of known mineralised structures, exploration drilling results, face sampling and mapping where available. Geological interpretations are continuing with a view to refining drill programs to test these targets.
Blackham's Executive Chairman, Mr Milan Jerkovic, commenting on the Wiluna free-milling development program, said: "The recent gold production at Golden Age underground demonstrates the potential to continue to define extensions at our highest-grade ore body, with increased levels of gold production possible over the next 12-18 months. This is consistent with Blackham's strategy to focus on mining our highest margin free-milling ore bodies whilst pursuing the low-cost expansion pathway to 120kozpa gold production from sulphides."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PSI1237M
About Blackham Resources Ltd:
Blackham Resources Ltd. (ASX:BLK) (OTCMKTS:BKHRF) Wiluna-Matilda Gold Operation is located in Australia's largest gold belt which stretches from Norseman through Kalgoorlie to Wiluna. The Operation now includes resources of 96Mt @ 2.2g/t for 6.7Moz Au all within 20kms of the central processing facility. Blackham has consolidated the entire Wiluna Goldfield within a +1,440km2 tenure package which has historically produced in excess of 4.4 million ounces over a 120-year mining history.
Source:
Blackham Resources Ltd.
Contact:
Milan Jerkovic Executive Chairman Office: +61-8-9322-6418 Jim Malone Investor Relations Mobile: +61-419-537-714