Blackham Resources (ASX: BLK) has identified a further three priority areas of mineralisation at the Matilda Mining Centre following the latest drilling results.
Drilling targeting shallow extensions of mineralisation adjacent to several open pits at Matilda has returned intercepts of:
- 13 metres at 2.79 grams per tonne (g/t) gold from 58 metres;
- 22 metres at 1.7g/t gold from 42 metres; and
- 11 metres at 2.49g/t gold from 37 metres.
All of these holes lie outside the existing JORC Resource.
In January Blackham confirmed an Inferred Resource for the Matilda Gold Project of 10.2 million tonnes at 1.8g/t for 601,000 ounces of gold.
The latest results indicate potential for open pittable ore along strike from the historical pits at Matilda.
Arrangements are underway for a drilling programme at the Matilda Mine to commence in April.
Matilda Mining Centre
Blackham acquired the Matilda Gold Project in Western Australia's Wiluna gold belt in November last year through the acquisition of Kimba Resources.
The Matilda Mining Centre includes the Matilda and Williamson gold mines along with a number of other deposits and prospects.
Mining operations were suddenly suspended in the early 1990s, leaving mineralisation extending beneath and along strike of the current pits at shallow depths.
Blackham has established a toll treating agreement with Apex Minerals (ASX: AXM) that could provide early cash flow.
At around the time the acquisition was completed, Blackham and Apex initiated discussions about the possibility of processing ore through Apex's Wiluna gold plant, which could provide additional funding for Blackham to explore the area.