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Blackham Resources today presented the final results from its recent drilling programme at the free-milling Lake Way Williamson deposit located 18km south of the companyâs Wiluna gold plant. On Friday, Blackham Resources Limited (ASX: BLK) unveiled its assay results for the last 7 RC holes which confirmed the opportunity for the Williamson Gold Mine to provide an ongoing baseload of high margin free milling ore with up to 55m broad zones beneath the historical pit. The company conducted this drilling from December 2018 to February 2019 comprising of 46 RC holes and 9 DD holes aimed at confirming resources and testing for extensions of the pit design. This is in line with the exploration strategy of the company that is designed to strengthen and lengthen free-milling mine life. Blackhamâs Executive Chairman stated that âThese ongoing successful drilling results further confirm the opportunity for the Williamson Gold Mine to provide an ongoing baseload of high margin free milling ore as Blackham seeks to maximise the margins generated from its 1.3Moz free milling Resource base.â The Williamson Mine is a bulk tonnage free-milling orebody hosted within a north-south trending monzogranite and enveloping shear zone with broad geological similarities to well-known significant deposits in the region, such as Gruyere, Thunderbox, King of the Hills and Edna May. Blackham has scheduled Williamson pit to be mined from the September 2019 quarter with resource modelling already commenced. Over the next 18 months, Blackham plans to transition to the initial stage of its sulphide expansion of 100-120kozpa as an interim step to achieving ~250kozpa production rate1 and turning the Wiluna back into a multicycle gold operation, told Chairman. The recent drilling results have reportedly reinforced the potentially economic tenor of mineralisation up to 500m south of the reserve pit design. It would improve the mining economics through the earlier access to the ore in the southern extensions which require significantly less waste stripping while posing the potential for a significantly extended mining strike length. The report read that the infill drilling now completed over 1km strike remains open in both directions. The Williamson Mine currently has a Resource of 5.6Mt @ 1.7g/t for 298koz Au over 2.2 kilometres of strike. An open pit Reserve of 0.95Mt @ 2.2 g/t for 68koz is contained in a cutback on the southern half of the existing Williamson pit. Further phases of drilling are planned to test both the open pit potential in the northern and south strike extensions and to better define the mineralisation at depth. The company stated that drilling during 2018-19 has proved that grade tenor persists down-dip beneath the proposed pit and therefore future drilling will target further pit expansion and underground extraction. Following the mining of Williamson pit, the company plans to revise open pit mine designs. Revised open pit mine design will likely include strike extensions that will extend free-milling mine life. BLK stock price dipped by 6.667% to last trade at $0.014 on 29 March 2019. The stock has plunged by 81.97% over the past 12 months.
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