Golden Age brings visible gold to BLK’s Matilda Project
Published 03-AUG-2015 12:19 P.M.
2 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 Ltd (ASX: BLK) has hit visible gold in core samples from underground drilling at the Golden Age reef, part of its Matilda Gold Project in the Northern Yilgarn region of Western Australia.
BLK’s plan is to reactivate the mothballed Wiluna Gold Plant and process up to 100,000oz/pa drawn from the regional mines and resources in the immediate area.
To ensure the plant is well stocked when it begins first production – planned for H1 of 2016 – BLK is drilling several surrounding quartz reefs and working up extensions to its flagship Matilda mine.
Matilda has JORC inferred and indicated resources of 12.5Mt @ 1.8g/t for 712,000oz, while the resource estimate for Matilda’s measured and indicated resources recently received a 40% boost from the positive results of a drilling programme to 7,260,000t @ 1.8g/t for 424,000oz Au.
Visible gold at Golden Age
To augment Matilda’s rising resource size, BLK has begun a 3,500m Diamond Drilling programme into the Golden Age reef that’s produced 160,000oz Au at 9g/t Au while retaining a resource of 0.6Mt @ 6.7g/t for 125,000 oz Au.
BLK’s drilling programme is designed to increase the size and confidence of that resource so it can be fed into the Wiluna Plant when BLK reactivates it – and this is what’s been found already:
The Stage 1 Hole GAUD0003 intercepted 4.8m (true width 1.6m) of quartz veining from 173.2 to 178m. The quartz mineralisation is hosted within sheared dolerite with visible gold in the last 1.5m of the vein.
This intercept is just 55m east of the previous underground mine workings – and there are many more drill holes to come as BLK works through its programme.
BLK’s Managing Director, Bryan Dixon, says the company is very excited about the early success from Golden Age’s drill programme. “The high grade Golden Age reef will be blended with the base load open pit Matilda Mine ore to increase the average grade of the mill feed,” he says.
“Golden Age is just one of numerous high grade quartz reefs in the immediate vicinity of the Wiluna Gold Plant. Golden Age is immediately accessible with established underground infrastructure that will allow mining to commence rapidly following the development decision.”
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.