BLK releases positive results from WA gold mine exploration
Blackham Resources (ASX:BLK) has released positive drilling results from its 100% owned Matilda Gold Project in Western Australia.
The assay results from the first eight RC holes of a 50 hole programme targeted the extensions of the M4 lode, a section of its Western Australian mine.
BLK drilled a number of holes, with the most successful being the M4 lode north of the planned M4 pit in that section, which intercepted gold mineralisation.
Plans on track for BLK
The results are in line to give the green light to Blackham’s plans to free-mill gold targets and resources within an open pit or shallow underground depths.
The discoveries, confirmed in the Iceberg 2 zone, are also close to a proposed Wiluna plant and infrastructure, which could be in operation to allow for processing shortly if all BLK’s plans come to fruition.
However, the focus of the exploration is on the Matilda Mine’s resources, totalling 13Mt @ 1.8g/t for 760,000oz. The plan is then to identify how much of the shallower resources are suitable for open pit mining.
Iceberg 2 zone’s discoveries
The recent discoveries, which are in the Iceberg 2 zone, are outside of the Matilda Gold Project’s initial mineral inventory. This gives the company an opportunity to grow the project mine life beyond the current four years.
Iceberg 2 has shown a shallow high grade zone of mineralisation plunging and drilling has proven at least 200m of strike length along the Iceberg 2 zone.
Future plans for BLK
BLK’s plans for the Matilda mine life extension is to grow the mining area both north and south, and through the west and central lodes.
Bryan Dixon, BLK’s Managing Director, says: “The recent drill results at the Matilda M4 have proven the historical RAB drilling in this area is ineffective due to the near surface depletion zone. These RAB results are however a very useful tool in finding new lodes within the Matilda Mining Centre.
“Management is confident of continuing to grow the Matilda mine life very cheaply in this area whilst mining studies progress on the other orebodies. The goal is to convert a critical mass of free milling resources into reserves to enable us to re-commission the Wiluna Plant.”
BLK and EcoTech join forces
At the beginning of March, BLK and EcoTech Mining signed a Memorandum of Understanding (MOU) to improve the metallurgical ore recoveries and processing costs at Wiluna.
Following the MOU, the companies joined forces to carry out the pilot scale test programme using EcoTech’s pilot plant facility.
EcoTech is also supporting BLK’s decision to build a 10,000tpa plant at Wiluna, and is completing a Bankable Feasibility Study to outline the potential of the plant.
If all goes well, the two companies plan to discuss and develop an agreement for the build of the Wiluna demonstration plant.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
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.
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.