Blackham Resources Ltd (ASX:BLK) has intercepted high-grade gold mineralisation at the Bulletin Lode within the Matilda-Wiluna Gold Operation in Western Australia.
The Wiluna-Matilda Gold Operation includes resources of 65 million tonnes at 3.1 g/t gold for 6.5 million gold ounces.
The reserve definition drilling program at Bulletin has been completed as part of the Expansion Study and will provide the basis for a reserve update for the Bulletin underground mine.
READ: Blackham Resources takes major step towards re-financing the Matilda-Wiluna Operation
Drilling has tested areas currently classified as Inferred which are likely to be accessible within three years of the re-commencement of underground mining at Bulletin.
Intercepts from the latest drilling include 16.6 metres at 6.03 g/t gold and 8.0 metres at 11.1 g/t gold.
Results support Bulletin underground mine plane
These ore-grade results suggest that Inferred resource areas are likely to be upgraded to Indicated status.
This adds further confidence to the Bulletin underground mine plan as outlined in the Expansion Study pre-feasibility study (PFS).
The confirmation of sub-parallel lodes is significant as they will increase the ounces per vertical metre and hence reduce mining costs.
Considering the proximity of the Bulletin deposit to existing underground infrastructure, the definition of additional resources are likely to benefit the economics of the deposit significantly during the mining stage.
High-grade mineralisation intersected in several sub-parallel lodes
Infill drilling has intersected high-grade mineralisation in several sub-parallel lodes at Bulletin with results generally confirming previous assay results.
Highlights include:
- 16.6 metres at 6.03 g/t gold;
- 8.0 metres at 11.1 g/t gold;
- 15.0 metres at 5.32 g/t gold;
- 11.3 metres at 6.63 g/t gold;
- 11.0 metres at 3.10 g/t gold;
- 13.8 metres at 4.91 g/t gold;
- 8.5 metres at 8.33 g/t gold; and
- 9.0 metres at 5.66 g/t gold.