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Blackham Resources Ltd (ASX:BLK) Quarterly Activities & Cashflow Report June 2017
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 The Board of Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) ('Blackham' or 'the Company') is pleased to provide an update on its activities for the quarter ended 30 June 2017 and thereafter.
KEY POINTS INCLUDE:
Corporate
- $19.7m in cash and bullion at the end of the quarter
- Gold sold 15,813oz @ A$1,626/oz (Mar'17 Qtr 14,772oz @ A$1,625oz)
Matilda/Wiluna Gold Operation
- Quarterly gold production totalled 15,720oz (Mar'17 Qtr 14,920oz)
- All In sustaining costs reducing quarter by quarter with lower stripping ratios and increasing production
- 2017 FY production 39,413oz (Guidance 40,000-42,000oz) over 8.5 months
- Higher investment in waste stripping this half has allowed access to expected higher grade ore in the Sep'17 Qtr
- Production is expected to ramp up during the Sep'17 Qtr on higher mill head grade and mill throughput
Expansion Studies
- Expansion targeting mill throughput of up to 3.2Mtpa due to the continued success in the Wiluna open pit resources
- Positive Initial Expansion Study published on 8 May 2017
- Expansion Preliminary Feasibility Study due in Aug'17
Resource and Reserve Drilling
- Completed 13,321m of infill and extension drilling programme at the Wiluna open pits
- Positive drill results around Wiluna suggests potential for much larger open pits with significant additional mineralisation confirmed both within and to the north of the existing pit designs
Resources
- Wiluna open pit resources are being updated for ~ 50,000m of drilling completed over the last 6 months
To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/XPABVM8S
Bryan Dixon
Managing Director
Blackham Resources Limited
Office: +61-8-9322-6418
Jim Malone
Investor Relations
Blackham Resources Limited
Office: +61-8-9322-6418
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