Matilda Gold Resource Grows to 922,000oz
Sydney, Aug 6, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (
ASX:BLK) contracted independent geological consultant Runge Limited (ASX:RUL) to carry out a review and estimate of the mineral resource for the Matilda Mining Centre gold deposit near Wiluna, Western Australia. The Matilda deposits now have a combined resource of 5.1Mt at 1.3g/t for 211,000oz of gold (Table 1, see link below). An extensive programme of interrogation and validation of the resource data prior to re-estimation has resulted in an upgrade to both confidence and the size of the Matilda resource. The Matilda Mine Indicated resource now stands at 906,000t @ 1.5g/t.
Blackham's revised gold resources at the Matilda Gold Project are summarised below. Blackham's exploration work is targeting previously defined deposits which are most likely to be converted to reserves in the near term.
Blackham has also reviewed the pit optimisation and reserve reports prepared by the previous owners and intends to update mining studies for these deposits at current gold prices and cost parameters.
Matilda Resource Update
Blackham contracted independent geological consultant Runge Limited (RUL) to carry out a review and estimate of the mineral resource for the Matilda Mine near Wiluna, Western Australia. The results of this work are summarised in Table 2.
The estimate for M2 represents an increase of 150% above the previous quoted estimate by Blackham. M5 and M6 deposits have not previously been included in estimates by Blackham.
The updated Matilda Project resource estimates were classified as Indicated and Inferred Mineral Resource. The Indicated portion of the resource was defined where the drill spacing was predominantly at 10m by 25m, and continuity of mineralisation was strong. The Inferred Resource included the remaining areas where the drill spacing was greater than 50m by 50m and where the lode had been extended down dip with sparse drill intercepts. The full Matilda Project database contained records for 2,784 drill holes for 203,977m of drilling.
The RUL Mineral Resource estimates comply with recommendations in the Australasian Code for Reporting of Mineral Resources and Ore Reserves (2004) by the Joint Ore Reserves Committee (JORC). The defined resource area has a total of 202 drill holes and 27,853m of drilling including 39 diamond, 59 RC and 103 AC holes.
Resources at all deposits are limited by the extent of drilling with mineralisation remaining open. High-grade mineralisation is structurally controlled and typically plunges at 20-30 DEG to the north. Blackham intends to conduct further drilling to test mineralisation along strike and down-plunge. Resource estimates for the M1, M3, M4 & M10 deposits is underway and the Company expects to provide further resource updates in the near future.
To view the full Blackham Resources announcement including Tables and Figures, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-599375.pdf
About Wiluna Mining Corporation Ltd
Wiluna Mining Corporation (ASX:WMC) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
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