Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Matilda Drill Results Shows Significant Gold Intercepts
Matilda Drill Results Shows Significant Gold Intercepts

Perth, Nov 7, 2012 AEST (ABN Newswire) - Blackham Resources Ltd (googlechartASX:BLK)is pleased to announce further results of recent drilling at the Matilda Gold Project in Western Australia. Blackham has recently completed an infill and extension RC programme at the Matilda Mining Centre focussing on the M1, M3 and M4 Deposits. A total of 3,200m of RC was completed.

The M4 Deposit has been identified as a priority area to recommence mining operations at the Matilda Mining Centre. The drilling programme was designed to test for extensions of mineralisation beneath the existing resource and to identify high-grade shoots within the broader lodes.

Latest results from this drilling have defined further high-grade zones of mineralisation with significant intercepts of 10m @ 5.47 g/t from 120m including 2m @ 12.4 g/t from 121m (MARC0063) and 5m @ 5.30 g/t from 125m (MARC0062) including 1m @ 20.4 g/t from 127m. These results have extended mineralisation approximately 50m down dip (Figure 1). Together with the earlier reported intercept of 31m @ 2.32 g/t in MARC0051, Blackham has identified a gently plunging (approximately 30° northwards), high-grade shoot with a strike of approximately 200m that remains open at depth (see Figure 2 in link below).

Many of the holes from this programme returned thicker and higher tenor results than intercepted by previous explorers closer to surface, possibly indicating depletion zones in the weathered profile. A large amount of historical drilling at Matilda failed to penetrate past the base of oxidation, thereby raising questions about its effectiveness.

In light of these excellent results the Company will be updating the resource model to determine what effect they may have on the open-pit mining economics. The high-grade nature of these results may also support an underground mining operation which will be investigated in due course.

Blackham's resource inventory at the Matilda Gold Project is currently 23Mt at 1.9g/t for 1.4Moz Au (see Table 1 in link below) which includes 12Mt @ 1.7g/t for 683,000oz Au at the Matilda Mining Centre.

Final results have also been received from the M1 and M3 deposits. An encouraging result of 12m @ 1.35 g/t Au in MARC0068 from the M3 Deposit has confirmed the geological interpretation north of M3 and should provide an upgrade of resource confidence in this area as well as a positive effect on mining economics. Further drilling is required to test the full resource potential. Likewise a result of 2m @ 5.01 g/t Au in MARC0071 at the Eastern Lode of M1 has confirmed the continuity of this lode.

The success of this programme warrants a follow-up programme immediately. Planning for this programme is currently underway and will commence as soon as a suitable rig can be mobilized to site.

A full table of results from this programme can be found in Appendix A as well as diagrams by visiting:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-612746.pdf


About Wiluna Mining Corporation Ltd

Wiluna Mining Corporation LtdWiluna 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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Contact

Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418

Tony Dawe
Professional Public Relations
T: +61-8-9388-0944



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