Blackham hits again on the exploration front
Published 01-JUL-2016 13:13 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) says it has confirmed further shallow high grade mineralisation close to existing infrastructure after releasing more drilling results today.
BLK has been busy on the exploration and drilling front – even as it nears for first gold production in September.
It comes at a great time too – with the price of gold sitting above $US1300 an ounce on the back of market instability – partially caused by the Brexit vote.
Investors should note that this is a static price, and there is no guarantee of it remaining at this price.
BLK said today that three drillholes sunk into the Essex deposit at its Matilda gold project came back with good grades.
Hits included: 6m @3.47g/t gold from 104m; 6m @ 8.99g/t Au from 119m; 19m @6.71g/t Au from 128m and; 18m @ 4.88g/t from 181m.
The Essex deposit is right near the Wiluna East Lode fault – with the Wiluna East lode pencilled in as a source of shallow high-grade gold for the Wiluna project.
BLK managing director Bryan Dixon said the Essex deposit fit into a strategy of chasing “open pit and shallow underground mineralisation close to existing infrastructure.”
It adds further exploration fodder for the company as it simultaneously gears up for first production and tries to beef up mining inventory to extend the mine life of the project.
BLK said follow-up drilling at Essex is being planned while a resource estimate would be revised on the back of the drilling.
The entire gold project has a mineral resource of 48 million tonnes at 3.3 grams per tonne for a contained gold resource of 5.1Moz.
Measured and Indicated makes up 22Mt @ 3.4g/t for 2.4Moz.
Blackham Resources’ latest resources statement
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.
