Sign up Australia
Proactive Investors - Run By Investors For Investors

Blackham Resources extends production at Golden Age and seeks to extend mine plan

The Golden Age underground deposit is a high grade and free-milling gold-rich quartz vein.
Picture of miner holding up gold nugget
These mining studies have now added another 24,600 tonnes at 6 g/t for 4,700 ounces of production

Blackham Resources Ltd’s (ASX:BLK) Golden Age underground gold mine plan continues to grow with it being extended for a further 6 months to December 2018.

After successfully moving to an owner-operator miner in October 2017, the company has reduced mining costs and alleviated some risks.

This news comes less than a fortnight after the company announced strong increases in production and lower costs at its Matilda-Wiluna gold operation.

READ: Blackham Resources surges 40% as output increases and costs fall

In 2017, Blackham commenced evaluation of the economics of the remaining Golden Age underground resource of 900,000 tonnes at 4.5 g/t for 129,000 ounces gold.

Reevaluation adds 4,700 ounces

These mining studies have now added another 24,600 tonnes at 6 g/t for 4,700 ounces of production targeted between July to December 2018.

Bryan Dixon, managing director said: “Blackham has successfully added another six months to the Golden Age Underground mine plan and is aiming to maintain a 6 to 12 -month rolling mine plan going forward.”

This additional targeted production is incremental to the previously disclosed underground mine plan which finished in June 2018.

Historical production of 160,000 ounces

Production is now expected to continue to produce about 2,500 ounces per quarter through to at least December 2018.

However, there is the possibility of resource expansion.

Dixon said: "This week’s drilling will commence down dip and down plunge from where we are currently mining strong grades at Golden Age.”

Historical production of 160,000 ounces

The Golden Age underground deposit is a high grade and free-milling gold-rich quartz vein.

Historically, the Golden Age underground has produced 160,000 ounces at 9 g/t gold.

Since recommissioning this mine, Blackham has produced 19,500 ounces at 4.7 g/t gold.

Potential to extend resource

Over the last eight months, Blackham’s geology team has identified several priority targets.

Underground drilling will commence this week aimed at further extending the mine plan and potentially allowing an increased mining rate. 

View full BLK profile View Profile

Blackham Resources Ltd Timeline

Related Articles

1523885547_shutterstock_130697096.jpg
April 16 2018
Pan African now is moving on from operational issues, with production at Barberton set to rise significantly this year
mining
February 05 2018
Colin Bird and newly appointed chief executive Laurence Read will launch a full geological and corporate review of Bezant’s operations
Balmoral Resources opening up new gold zones in the Abitibi
May 03 2017
Balmoral has delivered a string of attractive exploration results from its Martiniere gold project on the prolific Abitibi gold belt

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use