PERTH (miningweekly.com) – Junior gold developer Blackham Resources was hoping to start production at its 4.4-million ounce Matilda project, in Western Australia, by the end of 2015, pending financing.
The company reported on Friday that discussions were ongoing with a number of potential funders which have expressed interest in funding the Matilda project through feasibility and into production.
In the meantime, the company was working to expand the Matilda project, recently converting the 42-million tonne resource into a Joint Ore Reserves Committee compliant resource, and conducting metallurgical test work on the Wiluna plant, which was acquired in March this year.
Mining engineering work for the Matilda project was moving into feasibility stage, with initial designs completed on the main openpit.
Of the openpit and underground studies completed to date, Blackham was estimating that the Matilda project could average an annual production of 1.3-million tonnes, to deliver 119 000 oz/y over its nearly four-year mine-life.
In March this year, Blackham acquired the Wiluna gold project and processing plant from Apex Minerals, in a deal valued at A$4.6-million. The company said at the time of the acquisition that the Wiluna plant would save in project costs at Matilda, while also cutting back on the development time at Matilda.
Operations at Wiluna were suspended in June last year, as Apex went into administration after failing to raise A$1-million in capital to resolve operational issues at the mine.
Blackham said on Friday that with most of the approvals for operations in place at the Wiluna plant, and current notices of intent to mine over Matilda, there was only limited approvals required to start operations.