Blackham Resources Ltd: Golden Age Drilling Delivering for Wiluna

Perth, Australia - Blackham Resources Ltd. (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF) is pleased to report further results from drilling at the high-grade Golden Age underground mine located within the Wiluna Mining Centre. The programme instigated in November 2019 aims to improve free-milling operations ahead of the Company's Stage 1 Expansion Plan which involves a transition to sulphide gold concentrate production ("Stage 1").

Latest results are from a further 17 holes for 2,947m drilled at Golden Age. This drilling tests extension targets between the 850 and 600 levels at the underground mine as summarised in Figure 2 (see also ASX release dated 13th November 2019).

Milan Jerkovic, Blackham's Executive Chair commented: "While the Company is focussed on optimising the mine plan around our large Wiluna sulphide resource and transitioning to gold concentrate production, these results also deliver on our parallel free-milling strategy. We aim to extend the high-grade Golden Age orebody to sustain or increase production and improve transitional cashflow over the next 12-18 months ahead of sulphides production from September 2021.

In addition, we are drilling at the Williamson and Regent free-milling deposits, which have the potential to provide substantial baseload mill feed during the transition to, and potentially alongside, Stage 1 sulphides production".

Golden Age Drilling is Delivering for Wiluna

- Results from latest drilling at the high-grade free-milling Golden Age mine include:

GAGC0318: 3.8m @ 7.90g/t from 43.0m
GAGC0320: 1.8m @ 39.68g/t from 47.3m
GAGC0321: 2.6m @ 21.74g/t from 49.1m
GAGC0322: 0.8m @ 22.80g/t from 55.0m
GAGC0323: 1.2m @ 11.08g/t from 38.5m
GAGC0325: 0.4m @ 12.10g/t from 52.6m
GARD0112: 7.1m @ 7.47g/t from 185.9m, incl. 2.7m @ 17.32g/t

- Golden Age high-grade ore supplements the baseload free-milling open pits and is an important source of transitional cashflow for the next 18 months whilst we transition to sulphide production.

- Drilling at Golden Age continues to enhance the free-milling operation ahead of Stage 1 sulphide production.

- The Company continues to evaluate the drilling results to complete detailed mine planning and optimisation of the Golden Age production.

- Currently seven drill rigs in operation at the Wiluna Mining Operation

- Williamson and Regent resource development programmes underway, with a view to significantly extending the Company's free-milling resource pipeline in parallel to the Stage 1 sulphide strategy.

- Major sulphide resource development programme ongoing ahead of Stage 1 sulphide production.

To view the full release, please visit:
https://abnnewswire.net/lnk/1UH12SU6

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