Quarterly Activities Report March 2016
Perth, April 29, 2016 AEST (ABN Newswire) - The Board of Blackham Resources Limited (ASX:BLK) is pleased to provide an update on its activities for the quarter ended 31 March 2016 and thereafter.
HIGHLIGHTS INCLUDE:
- DFS completed demonstrating strong economics for the Matilda Gold Project
- 2 plus years added to PFS mine life
- DFS Mineral Inventory 8.3Mt @ 2.9g/t for 767,000oz Au
- strong conversion to Reserves
- Mine life growing 8.5Mt @ 3.0g/t for 826,000 Au
- Reserves now total over half a million ounces
- Large gold resource 45Mt @ 3.3g/t for 4.7Moz (50% indicated)
- Resource upgrades at Matilda, Golden Age, Williamson and Bulletin completed
- Drilling success included:
Matilda - pit extensions and discovery of M6 north lode
Galaxy - high grade drilling down plunge of open pit
Golden Age - high grade extensions confirmed
Bulletin - shallow high grade strike extensions proven
- Gravity and seismic geophysics completed over Lake Way
- Targeting gold production Q3 2016
- Plant and camp refurbishment contracts well advanced
Corporate
- $20.3 million capital raising completed
- $23 million undrawn project facility
- $27m in cash and investments at end of quarter
- Chief Geological Officer appointed
To view the complete report, please visit:
http://abnnewswire.net/lnk/I97N9IEI
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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