Annual Report to Shareholders
Perth, Sep 28, 2012 AEST (ABN Newswire) - Blackham Resources Limited (
ASX:BLK) are pleased to provide the Company Annual Report to shareholders for year ended 30 June 2012.
Managing Director's Report
Over the last year the Blackham Resources Ltd has re-focused its efforts on the Matilda Gold Project.
Since the last annual report I am pleased to report the Company has made the following achievements:
Matilda Gold Project, Western Australia
- Completed the acquisition of the 100% owned Matilda Gold Project in November 2011
- Upgraded the gold resources from 310,000oz to 1.4Moz which represents an increase in resources of 350% in the first year since acquisition.
- Completed 5,000m of drilling at the Matilda Mine
- Completed a scoping mine design over the Regent deposit
- Begun a scoping study to recommission the Matilda Mine
The combined Matilda Project estimate has grown to 23Mt at 1.9g/t for 1.4Moz Au (see Table 1). The 3 main mining centres Matilda, Williamson and Regent are all within 10kms if the Matilda Mine old plant site and infrastructure. These 3 mining centres also all with 26kms by existing haul road of the Wiluna Gold Plant. To view Blackham's revised gold resources at the Matilda Gold Project please refer to link at bottom of release.
The Company plans to complete a scoping study on re-commission the Matilda Mine within a month. Initial mining optimisation work has produced positive results. Historical mining data allows for a preliminary feasibility study to be finished over the Matilda Mine within a short timeframe.
A 3,000 metre infill ad extension drilling campaign has commenced at the Matilda Mine with a view to upgrading the size and confidence in the resource.
Coal, Western Australia
- Increased the total Scaddan coal resource to 1 billion tonnes with measured and indicated resources of 570 million tonnes of coal
- completed a Preliminary Processing Study on a coal to liquids plant to produce diesel
- Completed a number of studies of the upgrading of coal for possible export.
- Completed a scoping study for exporting Scaddan coal via the Esperance Port
- The current combined resources equate to approximately 40 years' worth of feedstock based upon a 60,000 barrel per day CTL facility.
In November 2012, Blackham finalised a scoping study for the export of coal from its 70% owned Scaddan Coal Project in Western Australia. Engenium, an independent Project Management and Engineering consulting firm, was commissioned by Blackham to complete the scoping study for the export of Scaddan coal through the Esperance Port. The Scaddan Coal Project is located 60km north of the Esperance Port. The Esperance Port is currently planning a 20Mtpa expansion. The State government earlier this year announced $120 million of State funding to upgrade the Esperance Port Access Corridor and construction work on the upgrade has begun. The project greatly benefits from its close location to existing and accessible infrastructure including road, rail, port, power and township.
Blackham now manages a combined coal resource of 1.4 billion tonnes estimated in accordance with the JORC Code. Blackham's attributable resource is 1.1 billion tonnes of coal.
The Scaddan West coal seam now extends over 35 kilometres in length, is still open to the north and is up to five kilometres wide in places. Thickness in the Scaddan West area varies from up to 19m, thinning rapidly at the edges of the body and around topographic highs. The main seam LGA averages 7.5 metres in thickness and contains 87% of the total coal resource. For more information on the please ASX announcement of 21st June 2011.
Blackham is currently looking for strategic partners to help fund the development of the Scaddan Coal Project whilst it focus on the exploration and development of the Matilda Gold Project.
Yours sincerely
Bryan Dixon
Managing Director
View the complete Blackham Resources Annual Report at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-606147.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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