Matilda Drilling Results
Perth, Mar 7, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (
ASX:BLK) is pleased to announce first results of drilling at the Matilda Gold Project, completed in late February. The drill programme comprised 21 holes for a total 2,009m targeting several prospects at the historic Matilda Mining Centre. Results from the first seven holes, all located at the M10 Prospect, have produced numerous significant intercepts including:
8m @ 9.98 g/t Au from 107m (MARC0008),
4m @ 15.0 g/t from 58m (MARC0007) and
6m @ 5.11 g/t Au from 41m (MARC0005).
Individual metres within these broader zones have returned results as high as 71.0 g/t demonstrating the high-grade nature of mineralisation. Mineralisation occurs as near-surface, lateral supergene enrichment zones and primary vein-hosted lodes. All holes to date have intercepted economic gold grades. Interpretation of the results is continuing. Full results can be found in Appendix A. Additional results are expected in the coming weeks and will be released to market as they come to hand.
Background
Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. 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 Matilda Mining Centre is located approximately 19km south of the township of Wiluna and produced 265,000oz prior to its closure in 1992. Blackham has validated 601,000oz of remaining resources at the Project, which has good potential for additional discoveries.
Matilda Gold Project Gold Resource Estimates
Inferred Mining Centre Tonnes Au (g/t) Oz. Au Williamson 6,001,000 1.9 364,000 Regent 1,259,000 2.0 81,000 Matilda 2,067,000 1.2 79,000 Galaxy 884,000 2.7 77,000
TOTAL 10,211,000 1.8 601,000
Rounding errors may occur - grades to 2 significant digits in this table.
Matilda Mining Centre
The Matilda Mining Centre was last exploited by ASARCO during the early-90's, comprising 7 shallow open pits. Most of these pits were mined to less than 50m and have significant mineralisation outside the pit limits. It is a large mineralised system with gold hosted in saddle reef and shear structures often with near surface supergene enrichment.
Blackham management are pleased that the initial drilling results have confirmed the potential for high grade ore at shallow depths at the Matilda Mining Centre.
To view the Blackham Resources Appendix, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-581046.pdf
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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