Matilda Project Grows to 1.4 Million Ounces of Gold
Perth, Sep 20, 2012 AEST (ABN Newswire) - Blackham Resources Limited (
ASX:BLK) is pleased to report the Resource Estimate for the M3 Deposit at the Matilda Gold Project has been completed by independent geological consultant Runge Limited (ASX:RUL). The M3 Deposit is estimated to contain 755,000t at 1.7g/t Au for a total of 42,000oz. The combined Matilda Project estimate has grown to 23Mt at 1.9g/t for 1.4Moz Au (see Table 1). The M3 deposit is crucial to unlocking the value of the Matilda Project due to its strategic position between the larger deposits of M1 and M4.
Blackham's revised gold resources at the Matilda Gold Project are summarised below (see link at bottom of release).
Matilda Resource Update
Resources at the Matilda Mining Centre have now reached 682,500oz Au further consolidating its position as the largest gold endowment within the Matilda Project. Further increases are expected when the M8 deposit and other prospects are estimated.
The Matilda deposits contain a mix of oxidation types as shown in the Table 4 below, (see link below).
The completion of the M3 resource has also highlighted that lodes from M1, M2, M3, M4 & M5 deposits are part of a large mineralised system (Figure 1). Within this system there are a number of areas with little or no drilling that if tests prove successful, may provide additional resources as well as a positive impact on the mining economics around these deposits (Figures 2 & 3).
As the Company shifts its focus towards development, priority will be given to improving the confidence of resources and ultimately converting resources into reserves. A 3,000m RC drill program commencing next week will focus on infill and extension zones around the M1, M3 and M4 deposits. The Company and the drilling contractor have agreed 50% the drilling contract will be paid in Blackham shares.
The Company is delighted with the recent growth of the Matilda Project. In less than 12 months the resources have grown over 350%. The Resource base is now sufficient to consider development options which would see the Company become a producer in the near-term.
To view the complete Blackham Resources announcement including Tables, Figures and revised gold resource at Matilda Gold Project, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-604698.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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