Blackham Acquires Stockpile
Perth, May 13, 2016 AEST (ABN Newswire) - Blackham Resources Ltd (
ASX:BLK) ("Blackham") is pleased to announce that it has entered into an agreement with Intermin Resources Ltd ('Intermin')(ASX:IRC) to purchase their calcine tailings stockpile located next to the Wiluna Plant.
Intermin owned the Wiluna calcine tailings stockpile. The stockpile comprises a JORC 2004 Indicated Mineral Resource Estimate of 370,000t @ 5.0 g/t Au for 59,500oz Au (per IRC ASX announcement 20 June 2011). It is located on Mining Lease M53/200 and is adjacent to the Wiluna Gold Plant.
The purchase also allows Blackham greater flexibility over the placement of tailings within the direct vicinity of the Plant. The Calcine tailings are the residual product from cyanidation of roasted sulphide concentrates produced prior to WWII from Wiluna gold ores.
Blackham has agreed to pay a total of $1.5m comprising an initial payment of $800,000 and the balance due by 31 December 2016. Once the consideration has been paid, Blackham will have 100% of the calcine tailings.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/6R10WV3I
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.
| ||
|
