Blackham Resources Ltd: Wiluna Sulphides Drilling Update

Perth, Australia - Blackham Resources Ltd. (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) is pleased to report further strong results from resource and reserve development drilling designed to expand reserves ahead of Stage 1 Sulphide Expansion production at its 6.4 million ounce Wiluna Gold Mine from mid-2020.

Stage 1 sulphide production aims to ramp up through 2021 to 100-120,000oz per annum. Wiluna is endowed with a large underground sulphide resource that currently stands at 18.5Mt @ 4.82 g/t for 2.9Moz, including 1.7Moz (58%) in the inferred category, which presents the Company with substantial reserve conversion and life-of-mine extension opportunities.

Blackham's strategy is to target high-grade +5g/t shoots on the main East and West gold structures (Figure 2*), which have a combined strike length of 7km. High-grade shoot discoveries within 300m of surface could be quickly brought into the mine plan as substantial mine development already exists including 5 access declines. The current program targeting infill of high grade inferred resources and new shallow shoot discoveries is part of a larger program of 45,000m planned over the next 18 months.

Stage 1 Sulphide Reserve Development

Blackham's initial drilling is aimed at infill and extension of Stage 1 sulphide reserves ahead of the commencement of mining in mid-2020 (see ASX releases dated 21st February 2020 and 23rd December 2019).

Drilling has targeted high-grade inferred zones and new shoot discoveries at shallow levels and close to existing underground infrastructure for early development. Results are reported here for further 7 holes for 1,940m. To date 3,448m has been completed of the first phase 7,000m RC program.

Drill programs are designed to:

- Expand and upgrade inferred and indicated resource areas

- Discover new high-grade shoots in modelled structural locations

Figure 3* shows latest results from drilling aimed at enhancing the grade and confidence of the category of resources within the current mining inventory at the Essex zone. Essex is to be developed early in the mine plan owing to its shallow depth and location close to existing infrastructure that requires minimal dewatering and rehabilitation to access high-grade ore. These results are located within 200m of surface and close to existing underground access, or a portal and decline may be developed off the existing Essex pit for early access to high grade ore.

Milan Jerkovic, Blackham's Executive Chairman commented "The future of the Wiluna Gold Mine is targeting high grade underground sulphide ounces. Its early days - we have drilled only 3,000m of 45,000m of a planned reserve and new shoot discovery program, which builds upon over 3,000km of historical drilling at the project and 100km of existing and adjacent underground development. We are targeting new shallow high-grade shoots 'under the headframe' for production from mid-2020".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/41E9AD4A

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