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Matilda gets added ounces

10th June 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed Blackham Resources has increased the measured and indicated resource at its Matilda gold project, in Western Australia, by about 40%.

The company reported on Wednesday that measured and indicated resources were estimated at 7.26-million tonnes, grading 1.8 g/t gold for 424 000 oz of gold. The project’s total resource stood at some 12.5-million tonnes, grading 1.8 g/t gold, for 713 000 oz of contained gold.

“The increase in the measured and indicated resource at the Matilda mine gives us further confidence for the mining studies and allows the management team to move quickly with the next phase of feasibility studies,” said Blackham MD Bryan Dixon.

Blackham was currently drilling a 2 000 m diamond programme at the Matilda mine, further upgrading the resource confidence, geotechnical and metallurgy. Additional reverse circulation drilling was also planned to infill the new zones to ensure any additional mineralisation is included in the next resource update.

The ASX-listed junior in May secured a A$38.5-million funding package to finance the development of its Matilda project, with production flagged to start in the second quarter of 2016.

Edited by Creamer Media Reporter

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