Perth, July 3, 2017 AEST (ABN Newswire) - Blackham Resources Ltd (ASX:BLK) (OTCMKTS:BKHRF) ("Blackham") is pleased to provide an update on the Reserve Definition Drilling which has been completed as part of the Expansion Study and will provide the basis for a resource and reserve update in support of the Stage 2 expansion plans. Drill results have now been received for the remainder of the program completed at the Happy Jack - Bulletin and Squib lodes at the Wiluna Gold Operation. Numerous broad, shallow high grade intercepts continue to highlight the potential for a large, long life operation underpinned by the Wiluna open pits all within 4km of the Wiluna Gold Plant.

Highlights:

- Further high grade shallow mineralisation on the Happy Jack - Bulletin and Squib Lodes amenable to open pit mining

- Potential extensions along strike and at depth of the Bulletin and Happy Jack open pits and underground development

- Impressive drilling results (downhole widths) include:

Bulletin Lode

- WURC0445: 35m @ 4.95g/t Au from 153m & 173g*m 14m @ 5.60g/t Au from 215m 78g*m
- WURC0435: 27m @ 5.60g/t Au from 171m 151g*m
- WURC0424: 23m @ 5.19g/t Au from 122m 119g*m
- WURC0423: 21m @ 5.20g/t Au from 136m 109g*m
- WUDD0021: 8.5m @ 4.18g/t Au from 26m 36g*m

Happy Jack

- WUDD0031: 54.4m @ 3.34g/t Au from 161.6m 182g*m
- WURC0333: 20m @ 3.11g/t Au from 103m & 62g*m
6m @ 11.2g/t Au from 138m 67g*m
- WUDD0018: 6m @ 6.56g/t Au from 107m 39g*m

Squib

- WURC0356: 18m @ 5.01g/t Au from 150m 90g*m
- WURC0357: 17m @ 5.61g/t Au from 118m 95g*m
- WUDD0022: 8.7m @ 5.80g/t Au from 158m 50g*m

These results are in addition to the drill results reported to the ASX on 22 May 2017 "Exceptional Wiluna Drilling Results" from the East and West lodes. Blackham is currently revising the Wiluna open pit resources with results from 49,000m of drilling completed since January 2017.

Wiluna Open Pit Reserve Drilling

Blackham recently published the results of a Preliminary Expansion Study ("PES" refer to ASX release 8th May 2017). The PES identified the potential for a long-life operation at Wiluna producing in excess of 200,000oz per annum, including 7.6Mt @ 2.5g/t for 610Koz of open pit Mining Inventory. Between January and May ~49,000m of RC and diamond drilling targeting shallow, open pit mineralisation was completed to increase the resource confidence level and allow open pit Ore Reserves to be estimated. Results from the first half of this program targeting the East and West lodes (refer to ASX release 22nd May 2017) intersected numerous zones of high grade mineralisation. An updated mineral resource estimate is in progress for the Wiluna open pits.

Results for the remainder of the drilling targeting the 2km strike length along the Happy Jack to Bulletin structures (see Figure 1 in the link below) have now been received and are reported here. Drilling has continued to intersect broad, shallow zones of high grade mineralisation within and along strike from pit shells which had been based on the previous drilling. High grade mineralisation beneath these pit shells is likely to either result in larger pits or be easily accessible from existing underground development. Resource estimation work for the remainder of the open pit lodes has now commenced and will be reported once completed.

Bulletin

Infill drilling at Bulletin has intersected shallow, high grade mineralisation along strike and beneath the Bulletin open pit (see Figures 2 & 3 in the link below). Mineralisation has also been intersected in lodes which are sub-parallel to the main Bulletin lode (see Figure 3 in the link below). These recent intercepts are broader and/or higher grade than intersected by historical drilling, revealing the presence of previously unrecognised high grade shoots. These sub-parallel lodes may result in a larger open pit, or reduce underground operating costs due to higher ounces per vertical metre.

Better results shown in Figures 1 to 3 (downhole widths quoted) (see the link below) include:

- WURC0445: 35m @ 4.95g/t from 153m including 11m @ 6.69g/t and 173g*m
14m @ 5.60g/t from 215m including 8m @ 8.52g/t 78g*m
- WURC0423: 21m @ 5.20g/t from 136m including 5m @ 11.2g/t, 109g*m
- WURC0424: 23m @ 5.19g/t from 122m including 4m @ 17.5g/t, 119g*m
- WURC0435: 14m @ 1.97g/t from 91m and 28g*m
27m @ 5.60g/t from 171m including 8m @ 12.3g/t, 151g*m
- WURC0441: 13m @ 4.09g/t from 162m including 5m @ 8.25g/t, 53g*m

Happy Jack

Drilling at Happy Jack focused on better defining mineralisation along strike to the north towards the Gap pit, to the south within the potential larger pit shell and at depth. Drilling results south of Happy Jack are broadly in line with expectations. Generally, drill results between the Happy Jack and Gap pits to the north of the current Happy Jack pit were higher grade than previous drilling indicated (see Figure 4 in the link below). Drilling beneath the pit was also broadly in line with expectations apart from an exceptional intersection in WUDD0031 which returned 54.4m @ 3.38g/t (182g*m) where the Creek shear intersects the main Happy Jack lode (see Figure 5 in the link below). Other significant results from Happy Jack (downhole widths quoted) include:

Other significant high grade results beneath and along strike from the current Happy Jack pit include:

- WURC0328: 4m @ 11.5g/t from 136m 46g*m
- WURC0333: 20m @ 3.11 g/t from 103m and 62g*m
6m @ 11.2g/t from 138m 67g*m
- WUDD0018: 20m @ 1.60g/t from 69m 32g*m
6m @ 6.56g/t from 107m 39g*m

Squib

The Squib pit lies to the west of the main Happy Jack to Bulletin trend (see Figure 1 in the link below). Infill drilling has confirmed the presence of high grade southerly plunging shoots (see Figure 6 in the link below). Significant intercepts include:

- WURC0357: 17m @ 5.61g/t from 118m including 7m @ 11.1g/t 95g*m
- WURC0356: 18m @ 5.01g/t from 150m including 7m @ 10.6g/t 90g*m
- WUDD0022: 8.7m @ 5.8g/t from 158m including 3.4m@ 11.6g/t 50g*m

Matilda/Wiluna Gold Operation Resources

A successful drilling campaign of 25,000m in the December 2016 quarter increased Mineral Resources at the Matilda/Wiluna gold operation by 25%. (Refer to ASX release dated 23rd of January 2017 for details). Significantly, the total Mineral Resource of 63Mt @ 3.2g/t (6.4Moz) includes 12.5Mt @ 2.6g/t for 1Moz of potential open pit mineralisation at Wiluna which could provide base load mill feed to an expanded processing plant.

The latest drilling results from the 49,000m completed since January 2017 around the Wiluna open pits have resulted in strike and depth extensions and improved geological confidence suggesting the potential for larger open pits than previously envisaged. The Wiluna open pit resources are currently being re-estimated.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/5G4G253Y


About Blackham Resources Ltd

Blackham Resources ASX:BLKBlackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. The Matilda/Wiluna Gold Operation incorporates over 1,000 square kilometres of tenements containing total JORC 2012 resources of 63Mt @ 3.2 g/t for 6.4Moz of gold. These tenements cover around 55 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine and Coles Find Sequence has historically produced 4 million ounces of gold.

All the deposits are within 26 kilometres by existing haul roads of Blackhams recently acquired Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects.

   


Contact

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

Bruce Kendall
Chief Geological Officer
Blackham Resources Limited
Office: +61-8-9322-6418

Jim Malone
Investor Relations Manager
Blackham Resources Limited
Office: +61-419-537-714



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