Blackham Resources, Wiluna West in JV Agreement

Posted On October 15th, 2019 - 9:42 am | by Oil and gas press

Blackham Resources Ltd (ASX:BLK) announced that it has signed a Joint Venture Agreement (JVA) with GWR Group Ltd (ASX:GWR) to mine the Wiluna West Gold Project. The JVA builds upon the Binding Heads of Agreement, see ASX release dated 23rd November 2018.

Highlights

  • Joint Venture for the development, mining and processing of gold deposits within GWR’s Wiluna West Gold Project at Blackham’s Wiluna Gold Processing Plant
  • Blackham entitled to 65% profit share from the Joint Venture
  • Pathway to production for GWR’s existing resource of 289,000oz (4.2 million tonnes at 2.2 g/t Au), located 40km from the Wiluna processing plant
  • Joint Venture aligns with Blackham’s strategy to utilise the Wiluna Plant to process external party ore as a further source of free milling material as it transitions to its Stage 1 Sulphide Expansion
  • Initial focus on Golden Monarch, then Emu and Eagle deposits where mining approvals are well advanced

The JVA sets the framework for Blackham and GWR to delineate and mine gold deposits at Wiluna West and for processing to take place at Blackham’s 100% owned Wiluna Plant. Blackham is the owner and operator of the Wiluna Gold Project, which includes the 2.1 million tonne per annum processing and treatment plant, located 40 km from GWR’s Wiluna West Gold Project.

The Wiluna West Gold Project contains a combined JORC 2004 and JORC 2012 Mineral Resource estimate of 4,167,000 tonnes at 2.2 g/t Au for an estimated 289,000 oz Au (refer Table 1). For further details see ASX release dated 15th August 2019 “Wiluna West Gold Project Increases Mineral Resources Estimate by 13.5%”.

Source / More : Blackham Resources Ltd

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