07/10/2015 - 15:38

Blackham spits out treasure trove of high grade results

07/10/2015 - 15:38


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Blackham spits out treasure trove of high grade results
Soon to be restarted Wiluna Gold plant

At the eleventh hour of finalization of a PFS into the Matilda Gold project in Wiluna, Blackham Resources has produced a plethora of high grade drill results that have the potential to positively impact the company’s pre feasibility study.

The most significant intercept of 10m grading 8.93 grams per tonne gold was discovered just 10m below the proposed M3 pit floor outline. This included a 3m section grading a very significant 26.5 grams per tonne gold and it remains open down plunge. The company has already started another hole to test the down plunge mineralization in this zone with results pending.

Further results from the M3 pit area include 5m @ 2.92g/t from 3m and 13m @ 1.96g/t from 91m.

The company also targeted the M10 pit area which is expected to provide first ore when the Wiluna Gold plant is kick started again next year, also with solid results.

Intersections at M10 included 8m @ 5.33g/t from 32m, 4m @ 5.16 g/t from 45m and 4m @ 8.45g/t from 81m.

A poorly drilled “hump” between the M1 and M1 South pits that needs to be removed in order to access deeper mineralization in the M1 South pit also produced some good results making it considerably more attractive now to remove.

Drilling in this area returned results of 7m @ 4.09 g/t gold from 93m including 2m @ 8.72g/t and 8m @ 2.39g/t gold from the 102m mark.

Other results in the M1 zone include 9m @ 3.89 g/t from 82m, MARC0299: 11m @ 4.63 g/t from 88m (including 5m @ 8.62 g/t from 91m),

The company also looks likely to merge their M4 and M4 North pits after drilling between the two also produced solid results including a very large intersection of 17m grading 3.65 grams per tonne gold.

The latest round of drilling is expected to positively impact the company’s PFS, in particular it should significantly increase the stripping ratio’s at the Matilda project thereby improving its profitability.

The resource models, geotechnical studies and metallurgical test work for the PFS are now complete and the market is eagerly awaiting Blackham’s PFS release expected any day now. 


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