Blackham Resources grows Matilda to 922,000 gold ounces, targets near term Reserves 

(MENAFN - ProactiveInvestors - Australia) Blackham Resources (ASX: BLK) is rapidly approaching the one million gold ounce milestone after an upgrade at Matilda increased the gold bounty to 922,000 ounces, with the Matilda Mine resource increasing to 211,000 ounces. Geological consultant Runge conducted the review.

Importantly - additional resource estimates for the M1, M3, M4 and M10 deposits are currently underway providing the potential for an increase in resources over the near term.

The M10 pit is a shallow oxide deposit, which has never been mined. Blackham is planning further drilling.

At the moment Blackham's exploration work is targeting previously defined deposits which are most likely to be converted to reserves in the near term.

Resources at all deposits are limited by the extent of drilling with mineralisation remaining open, with high-grade mineralisation being structurally controlled and typically plunges at 20-30 to the north. Blackham intends to conduct further drilling to test mineralisation along strike and down-plunge.

The Matilda project is strategically located in the Wiluna Greenstone Belt of Western Australia, with the belt producing 4 million gold ounces to date.


Matilda Gold Project 922,000 ounce breakdown

The Matilda project hosts 922,000 ounces, which is broken down across four areas. The Matilda Mine has a combined resource of 5.1 million tonnes at 1.3g/t gold for 211,000 ounces, with has a higher confidence Indicated Resource of 906,000t at 1.5g/t gold.

The additional resources are at Williamson Mine (364,000 ounces), Regent (270,000 ounces) and Galaxy (77,000 ounces).

The Matilda Mine is located around 20 kilometres from the Wiluna Gold Plant by existing haul roads.