Blackham Resources Limited (ASX:BLK) Finalised the Acquisition of Matilda Gold Project
Perth, Nov 23, 2011 AEST (ABN Newswire) - Blackham Resources Limited (
ASX:BLK) is pleased to announce it has acquired 100% of the Wiluna South and Williamson Gold Mines and the Regents, Carol Prior, Galaxy Gold Deposits in the Wiluna gold belt of Western Australia (Project). The 600km2 landholding surrounds the operating Wiluna Gold Mine owned by Apex Minerals NL (ASX:AXM). This region has produced over 4 million ounces of gold. The current Wiluna Gold Mine resource is 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).
The old Matilda and Williamson Gold Mines are located 12 and 17 kilometres respectively from Apex's gold plant. Both Matilda and Williamson are held under mining leases and have existing haul roads linking the old mines to the existing plant.
Blackham plans to focus its initial drilling at the Matilda Gold Project on defining resources and exploration targets that are most likely to create near term mining opportunities at the Matilda Gold Project. The approvals process for the initial drilling programme has begun with drilling expected to commence in December.
Early cash flow from a toll treating agreement could provide Blackham with additional funding to explore the 40 kilometre strike it now has gold rights to along the Wiluna Mine sequence and 10km strike along the Coles Shear.
Blackham has finalised the acquisition of 100% of Kimba Resources Pty Ltd and its Matilda Gold Project it has also secured the exploration and mining rights to gold, nickel and all non-uranium minerals rights to a large tenure package in the Lakeway area.
The Matilda Gold Project area now includes gold and nickel rights to 40 km of strike along the Wiluna Mine sequence with a total land package to 600 km2. The project now includes the old Matilda Gold Mine, the Williamson Gold Mine and defined targets at Regents, Galaxy, Mt Poole, Monarch, Prior, Red Lady, Zenith, Island and Albion gold prospects in the Lakeway area. The adjacent Wiluna Mine operated by Apex Minerals has produced over 4 million ounces of gold from only 5km of the mine sequence. Apex Minerals reported gold resources of 12.7Mt @ 5.4g/t for 2.2 million ounces of contained gold in their 2010 Annual Report. The Company considers the ground to have strong prospectivity for hosting similar gold bearing structures to the Wiluna Mine.
About Wiluna Mining Corporation Ltd
Wiluna Mining Corporation (ASX:WMC) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
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