Blackham Resources took a bit of a punt at the Matilda Gold project recently which looks like it may pay off.
The company drilled their deepest hole yet at the project and intersected gold mineralization at over 400m with the hole still open at depth.
Deeper drilling results at the M1 pit of 2m @ 6.98 g/t from the 419m mark including 1m @ 11.8 grams per tonne, confirm the high-grade Matilda mineralised system extends much further down-plunge than previously thought.
Previous drilling at the project only ever tested the mineralization to about 300m. The latest deep drilling will no doubt provide some encouragement that a whole new deeper mineralized zone may be present at the project.
Other notable drilling results which targeted down plunge extensions of the M3, M4 and M5 ore bodies include 5m @ 2.59 g/t from 81m and 9m @ 3.05 g/t from 133m including 2m @ 6.57 g/t from 137m along strike from M3 mineralisation.
The Matilda Gold project has a 10km strike length that is largely still untested.
Blackham are planning to systematically test the entire 10km strike length with an eye to locking down more 1m plus ounce deposits similar to the Matilda Gold mine.
Historical drilling intercepts of up to 4km along strike from the mine include 4m @ 13.9g/t and 6m @ 13.9g/t
The Matilda Mine resource now stands at 13.1m tonnes grading 1.7 grams per tonne gold for 721 000 ounces. Importantly 61% of that resource now sits in the measured and indicated category.
The entire Matilda Gold project now boasts a resource of 48m tonnes grading 3.3 grams per tonne for just over 5m ounces of gold.
The Wiluna Gold plant which is part of the Matilda Gold Project has been on care and maintenance for some years now and was purchased by Blackham Resources a couple of year ago.
New discoveries by Blackham in the last two years will guarantee the mill a base load free milling ore feed which it didn’t have when it closed down some years ago.
