Blackham’s Matilda gold project grows to over 5 million ounces

Published at Jun 27, 2016, in Mining

Set to start mining gold in 3 weeks, gold junior Blackham Resources (ASX:BLK) has expanded its Matilda gold project to over 5 million ounces.

An opportune time for BLK to make this announcement and step into production phase as the price of gold reaches close to its all-time high of $1802.3 set back in September 6th 2011, with gold currently A$1,792.21 p/oz at time of writing.

With recent resource estimates targeting mineralisation along the Moonlight Shear zone has been completed, the Moonlight Shear deposit now stands at 2.6Mt @ 4.6g/t for 381,999oz Au (10% of which is indicated), with the entire Matilda gold project upgraded to [email protected]/t for 5.1Moz (48% indicated).

A breakdown of BLK’s Matilda Gold Project resources:

BLK Matilda chart gold

The Moonlight Shear deposit is less than two kilometres from BLK’s 100% owned gold plant, allowing BLK to keep its cost of production low.

Open pit and underground mining studies have commenced at BLK’s Adelaide, Moonlight, Lone Hand, Semaphore and Indigo Lodes deposits, with the view of extending the mine life beyond 8 years.

BLK’s Managing Director, Mr Bryan Dixon commented:

“Blackham is delighted to have put together over 5Moz of resource all within a 20 kilometre radius of the Wiluna Gold Plant. Mining studies have commenced over the Moonlight resources. Our exploration team see significant potential along this 2km long underexplored shear. ”

Full funded and mining set to begin next month, BLK is on track to be Australia’s next gold producer. With the first gold pour scheduled for September 2016.

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