Drill Results Matilda Gold Project
Sydney, May 8, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (
ASX:BLK), ("Blackham") is pleased to announce the receipt of final assays from further drilling at the Matilda Gold Project. Blackham completed 17 Reverse Circulation (RC) drill holes totalling 1,916m during April 2012. The program has tested extensions of mineralisation both up- and down-plunge at M10, M6 and M3 deposits at Matilda.
Drilling to the north of M6 deposit has returned high-grade results including:
4m @ 3.82 g/t Au from 22m (MARC0033)
Drilling to the north east of the M10 deposit has returned high-grade intercepts including:
3m @ 3.18 g/t Au from 91m (MARC0031)
2m @ 5.79 g/t Au from 66m (MARC0032)
Two drill holes situated south of M3 deposit intersected shallow gold mineralisation at the expected position underneath historic drill holes, though of lesser tenor.
These results demonstrate that mineralisation remains open around the periphery of the historically mined pits. Results are now being incorporated into geological models and further drilling is planned.
Blackham's exploration work is targeting extensions to previously defined deposits which are most likely to be converted to reserves in the near term. The Matilda project is located approximately 19km south of the township of Wiluna within Blackham's 100% controlled granted mining license M53/0034. Matilda produced 168,000oz from 7 shallow pits prior to its sudden closure in 1992.
Most of these pits were mined to less than 50m and have significant shallow mineralisation outside the pit limits. It is a large mineralised system with gold hosted in saddle reef and shear structures; high-grade shoots are known to plunge approximately 20-30° towards a bearing of 330° and nearsurface supergene enrichment is common.
Assay results from MARC0033 confirm the presence of shallow high-grade mineralisation north of the previously mined pit. Further drilling is planned to infill and expand on the sparse historical drill pattern and to delineate the continuity of mineralisation between this area and the M6 pit.
Assay results from M10 confirm that mineralisation remains open to the north and south, with high-grade gold zones intersected on the limit of drilling. Mineralisation has been intersected in new stratigraphic positions, which may represent new ore shoots that will build on the existing resources at M10. Notably, MARC0032 has intersected high-grade mineralisation beneath shallow historical holes that had failed to penetrate to the gold-enriched supergene zone. Further drilling is planned to better delineate this shoot.
Background
Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects in the Wiluna gold belt of Western Australia. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. The tenure package covers 40km of strike along the Wiluna Mine sequence which has produced over 4Moz of gold. In addition, the strike length of the prospective Coles Shear which hosts the Matilda Deposits has been extended to 10 km. Blackham has the largest landholding in one of Western Australia's major Achaean greenstone belts.
Blackham has validated 757,000oz of remaining resources at the Project, which has good potential for additional discoveries. Blackham is targeting the resources mostly to be converted to reserves in the near term.
Blackham continues to evaluate the development of the Scaddan and Zanthus Energy Projects for the export of coal and building of a coal to liquid (CTL) facility.
The Scaddan and Zanthus Energy Projects, located near Esperance, Western Australia, contain world scale coal deposits totalling 1.4 billion tonnes with over 10,600 PJ of energy at shallow depth and very low mining costs. The project has the potential to produce 860 million barrels oil equivalent, consisting mainly of a clean diesel, as well as additional power for the region.
The Scaddan Energy Project is surrounded by complimentary infrastructure approximately 60 kilometres north of the town and major port of Esperance and 10 kilometres east of the Esperance to Kalgoorlie highway, gas pipeline and railway line.
For full tables and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-589061.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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