Blackham beefs up greenfield exploration efforts
Published 09-MAY-2016 14:31 P.M.
1 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Blackham Resources (ASX:BLK) continues to beef up its longer-term mining inventory – with a gravity and passive surveys firming up 25 new targets, 12 of which are “high-priority”.
As BLK rushes toward first gold production at its Matilda Gold Project in Western Australia, it has also begun a program aimed at extending the amount of inventory available to mine.
It has identified an area close to its existing Williamson and Regent deposits known as the Lake Way district.
It contains a salt lake, and therefore has proved difficult in the past to delineate a gold resource as the salt cover obscured previous surveys.
This means previous drilling done was broad based with limited multi-element analysis completed.
By conducting gravity and passive seismic surveys though, BLK thinks it may have cracked the code.
It has firmed up 25 target areas – including 12 areas BLK has labelled as targets for high-priority drilling.
Follow up activities will include aircore and reverse circulation drilling, with multi-element analysis to boot.
BLK managing director Bryan Dixon told shareholders that it could be an exciting area.
“Blackham is very encouraged by the anomalies identified in the gravity and seismic survey,” he said. “The Lake Way area is a very large free milling gold system with exploration in the past...masked by the lake sediments.”
He said while a total of 92,000m of air core drilling has proved there is a mineralised system in the area, BLK has only completed 5000m of reserve drilling into Williamson.
This has been the only drilling at Lake Way in the past 9 years.
The news comes off the back of revelations late Friday that it had effectively locked in 20,000 ounces of sales gold at $1701 per ounce, and a further 20,000 ounces at $1575/oz as a put option. The sales have expiry dates of 2 and 9 August respectively.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.