Quarterly Report: March 2016

The Board of Blackham Resources Limited (‘Blackham’ or ‘the Company’) is pleased to provide an update on its activities for the quarter ended 31 March 2016 and thereafter.
HIGHLIGHTS INCLUDE:

  • DFS completed demonstrating strong economics for the Matilda Gold Project
  • 2 plus years added to PFS mine life
  • DFS Mineral Inventory 8.3Mt @ 2.9g/t for 767,000oz Au
    • strong conversion to Reserves
  • Mine life growing 8.5Mt @ 3.0g/t for 826,000 Au
  • Reserves now total over half a million ounces
  • Large gold resource 45Mt @ 3.3g/t for 4.7Moz (50% indicated)
    • Resource upgrades at Matilda, Golden Age, Williamson and Bulletin completed
  • Drilling success included:
    Matilda – pit extensions and discovery of M6 north lode
    Galaxy – high grade drilling down plunge of open pit
    Golden Age – high grade extensions confirmed
    Bulletin – shallow high grade strike extensions proven
  • Gravity and seismic geophysics completed over Lake Way
  • Targeting gold production Q3 2016
  • Plant and camp refurbishment contracts well advanced
    Corporate
  • $20.3 million capital raising completed
  • $23 million undrawn project facility
  • $27m in cash and investments at end of quarter
  • Chief Geological Officer appointed

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