Blackham strikes pay dirt at 3 ounces to the tonne

Perth based near term gold hopeful Blackham Resources has uncovered a new 2m gold oxide lode grading a spectacular 95 grams to the tonne gold which equates to a staggering 3 ounces of gold for every tonne of dirt mined.

The new lode was discovered during a maiden drilling campaign at the company’s “Williamson” deposit that forms one part of the Matilda Gold project in Wiluna Western Australia.

The new gold lode, which commences at just 33 metres, extends into the Williamson pit design as detailed in the company’s pre-feasibility study and is still open to the South, North and down dip.

The company says it is likely that the new discovery will enhance the economics of the Williamson pit when it commences mining next year.

Other notable results from the 24 hole campaign include a 5m intersection grading 4.25 grams per tonne gold and a 3.7m intersection grading 7.4 grams per tonne gold from the 153m and 78m mark respectively.

The completion of the campaign marks the end of the collection of geotechnical and metallurgical samples necessary to complete the DFS.

The company also says the southern extensions of the Williamson deposit have now been infill drilled at a spacing that should support an upgrading of the resource to “indicated” status.

The Williamson deposit which currently hosts about 350 000 ounces of gold is said to be similar in nature to Saracen Mineral’s Thunderbox mine and Gold Road Resources Gruyere mine.

Its mineralisation extends in excess of 1.3km further south from the current preliminary pit design, and boasts historical aircore intercepts of 4m @ 12.2g/t from 56m, 19m @ 14.2g/t from 60m, 20m @ 3.2g/t from 16m, 18m @ 2.9g/t from 35m, and 4m @ 7.2g/t from 16m. 

Share Price

Closing price for the last 90 trading days
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®