Blackham Resources Ltd.: Quarterly Activities & Cashflow Report June 2017
Perth - The Board of Blackham Resources Ltd. (ASX:BLK) (OTCMKTS:BKHRF) ('Blackham' or 'the Company') is pleased to provide an update on its activities for the quarter ended 30 June 2017 and thereafter.KEY POINTS INCLUDE:
Corporate
- $19.7m in cash and bullion at the end of the quarter
- Gold sold 15,813oz @ A$1,626/oz (Mar'17 Qtr 14,772oz @ A$1,625oz)
Matilda/Wiluna Gold Operation
- Quarterly gold production totalled 15,720oz (Mar'17 Qtr 14,920oz)
- All In sustaining costs reducing quarter by quarter with lower stripping ratios and increasing production
- 2017 FY production 39,413oz (Guidance 40,000-42,000oz) over 8.5 months
- Higher investment in waste stripping this half has allowed access to expected higher grade ore in the Sep'17 Qtr
- Production is expected to ramp up during the Sep'17 Qtr on higher mill head grade and mill throughput
Expansion Studies
- Expansion targeting mill throughput of up to 3.2Mtpa due to the continued success in the Wiluna open pit resources
- Positive Initial Expansion Study published on 8 May 2017
- Expansion Preliminary Feasibility Study due in Aug'17
Resource and Reserve Drilling
- Completed 13,321m of infill and extension drilling programme at the Wiluna open pits
- Positive drill results around Wiluna suggests potential for much larger open pits with significant additional mineralisation confirmed both within and to the north of the existing pit designs
Resources
- Wiluna open pit resources are being updated for ~ 50,000m of drilling completed over the last 6 months
To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/XPABVM8S
About Blackham Resources Ltd:
Blackham Resources Ltd. (ASX:BLK), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. The Matilda/Wiluna Gold Operation incorporates over 1,000 square kilometres of tenements containing total JORC 2012 resources of 63Mt @ 3.2 g/t for 6.4Moz of gold. These tenements cover around 55 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine and Coles Find Sequence has historically produced 4 million ounces of gold.
All the deposits are within 26 kilometres by existing haul roads of Blackhams recently acquired Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects.
Contact:
Bryan Dixon Managing Director
Blackham Resources Ltd.
Office: +61-8-9322-6418
Jim Malone Investor Relations
Blackham Resources Ltd.
Office: +61-8-9322-6418
