BLK Hits Bonanza Grade Lode At Golden Age Reef
Published 10-AUG-2015 12:06 P.M.
2 minute read
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Fresh from hitting visual gold at its Golden Age Reef, Blackham Resources Ltd (ASX:BLK) has now confirmed that it’s hit a ‘bonanza’ lode that could unlock significant new high-grade mineralisation.
Golden Age is part of BLK’s Matilda Gold Project in the Northern Yilgarn region of Western Australia where it’s working to reactivate the mothballed Wiluna Gold Plant and process up to 100,000oz/pa drawn resources in the immediate area.
To make sure the plant is well stocked with high grade ore, BLK is drilling 3,500m at Golden Age to increase the size and confidence in its existing high-grade resource of 125,000oz Au.
‘Bonanza grade’ gold hits at Golden Age
BLK has drilled 11 underground holes at Golden Age so far and assay results from just one – GAUD0003 – which returned 5.1m @ 198g/t Au from 173.1m, including 0.8m @ 1,148g/t Au from 176.6m.
GAUD0003 is the same drill hole that produced the visual gold, and assay results confirm its part of the inferred resource at Golden Age, which was previously estimated as a lower grade zone due to a lack of data.
BLK says its high-grade results demonstrate the variable or ‘nuggetty’ nature of Golden Age’s mineralisation and it expects further infill drilling may identify additional bonanza lodes, further unlocking the reef’s high-grade potential.
The other 10 holes appear to have hit the Golden Age structure as well but do not contain visible gold. Assay results from these holes are pending, and BLK is continuing to drill the reef.
Managing Director, Bryan Dixon, says the initial results at Golden Age confirm the reef’s high-grade potential. “The next drill results will confirm the potential for expanding the size of the Golden Age resource,” he says.
“The high-grade Golden Age ore will be blended with the Matilda open-pit ore to increase the average head-grade of the mill feed. Golden Age is just one of numerous high-grade quartz deposits in close vicinity of the Wiluna Gold Plant. Golden Age has established underground infrastructure that will allow mining to commence rapidly following the development decision.”
Overall, BLK’s Matilda Gold Project has JORC inferred and indicated resources of 44Mt @ 3.3g/t for 4.7Moz. The Golden Age resource stands at 600,000t @ 6.7g/t for 125,000oz and is still open. The Golden Age deposit can be accessed immediately upon development decision and will be an important source of mill feed in the early years of the Matilda Gold Project.
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