More promising hits for BLK as Matilda DFS looms

Published 22-FEB-2016 11:56 A.M.

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2 minute read

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In a week Blackham Resources (ASX:BLK) is due to reveal its definitive feasibility study, it has found new repeating lodes at its Matilda Mine – the main source of initial ore for its operations.

Gold player BLK told its investors this morning that drilling at three pits had identified new lodes, confirmed existing resource models, and discovered shallow higher grade shoots.

At the M6 North pit, drilling identified a new high grade shoot immediately north of the existing pit, which was mined in the early 1990s.

Hits included 20m @ 1.1 grams per tonne from 30m, 7m @4.71g/t from 2m, and 5m @ 4.04g/t from 15m.

Interestingly, BLK said the north shoot is one the same gold mineralised structure as the M1 deposit, which is 800m to the north and also part of the Matilda mine.

It said more drilling on the shoot would take place over the coming days.

Meanwhile, it has discovered a new lode at the planned waste dump location for the mine.

BLK was conducting aircore sterilisation drilling of the location when it discovered a new gold mineralised structure between the M10 east shoot and the M4 pit, extending for 600m.

Hits included 16m @ 0.61g/t from 32m and 1m @1.16g/t from 60m.

Again, follow-up drilling is due in the coming days.

Location of the pits at Matilda and the hits in the latest round of drilling

Location of the pits at Matilda and the hits in the latest round of drilling

Infill drilling at the M10 east shoot, meanwhile, largely confirmed the current resources model there.

News of the drilling came just days before BLK is due to release a long-awaited definitive feasibility study for its Matilda Gold Project.

Ore from the Matilda mine is expected to make up the majority of the ore fed into the plant for processing, with gold sourced from quartz reefs set to be fed to provide an average higher-grade feed into the plant.

BLK also said that it would update its reserves position within days.

About BLK

BLK is planning to bring gold from the Matilda Gold Project from the Northern Yilgarn region in Western Australia into production using the existing, but mothballed, Wiluna Gold Plant.

At this stage, the plant is slated to produce just a shade under 100,000 ounces of gold per year.

The aim is to start producing gold mid-year, with the first stage of production to utilise soft oxide and free milling, using the existing resources at the Matilda Mine, with additional gold ores coming from the high grade reefs like Golden Age, Galaxy and Caledonia.

tags

GOLD


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