Blackham Resources (ASX: BLK) is following up on the successful first gold drilling campaign at the company's Matilda Project with the start of a 2,000 metre drilling program.
The new program will test for extensions of the mineralisation already identified, and will follow up several new mineralised positions on the outskirts of the M10 prospect and nearby M6 pit.
Results from this program are expected around the end of April.
The initial drilling program at Matilda, carried out in February, identified a core shoot that remains open up and down plunge, along with supergene mineralisation that is open in several directions.
Assays included a number of high grade intercepts from the M10 Prospect, with highlights of:
- 16 metres at 4.5 grams per tonne (g/t) gold from 34 metres;
- 7 metres at 14g/t gold from 74 metres; and
- 8 metres at 9.98g/t gold from 107 metres.
Along with the current drilling program, Blackham is evaluating resource opportunities at Matilda, where the company recently upgraded the Regent Deposit to 237,000 ounces of gold. This upgrade takes total Resources at the project to 757,000 ounces of gold.
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, including 301,000 ounces remaining at the Williamson Mine since the completion of mining.
The exploration work will target previously defined deposits which have the best prospectivity to be converted to Reserves in the near term.
Blackham's Matilda Project covers more than 600 square kilometres surrounding Apex Minerals' (ASX: AXM)operating 12.7 million tonnes at 5.4g/t Wiluna Gold Mine, in a region that has produced more than 4 million ounces of gold.
Blackham and Apex have been in discussions regarding the possibility of processing Matilda ore through Apex's Wiluna gold plant which could provide early cash flow for Blackham as it continues to explore the area.