Blackham Resources on track for gold production

Published at May 16, 2016, in Mining

The Department of Mining and Petroleum has approved Blackham Resource’s (ASX:BLK) Matilda Mine and Wiluna Mining Proposals, with the Williamson Mining proposal well advanced.

Vegetation clearing permits have been granted over the entire mine plan.

Further to this approval, the Department of Water has granted a water extraction license over Blackham’s Galaxy Project.

Blackham is also working closely with the Department of Environment and Regulation and is on track to mobilise the Matilda open pit mining contractor and the Golden Age underground mining contractor next month.

Meanwhile Blackham has entered into an agreement with Interim Resources (ASX:IRC) to purchase their calcine tailings stockpile located next to the Wiluna Plant.

The stockpile consists of a JORC 2004 Indicated Mineral Resource Estimate of 370,[email protected]/t for 59,500oz.

The purchase gives Blackham greater flexibility over the placement of tailings within the direct vicinity of the plant.

Blackham will pay a total of $1.5 million for the tailings, which are the residual product from cyanidation of roasted sulphide concentrates produced prior to WW2 from Wiluna gold ores.

The payment consists of an initial $800,000 and the balance due by 31 December 2016.

Once the consideration has been, Blackham will have 100% of the calcine tailings.

Golf production is on track for September quarter 2016.

S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!