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.

  • 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
  • $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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