Australian mining company Blackham Resources announced that its recently acquired Matilda Gold Project has an existing Inferred Resource of 10.2 million tonnes at 1.8 grams per tonne for 601,000 ounces of gold.
Blackham Resources acquired the Matilda and Williamson Gold Mines along with other deposits and prospect in November 2011. The project has more than 600 square km and the region has already produced more than 4 million ounces of gold.
Blackham Resources confirmed the acquisition cost for Matilda Gold project at $5 per ounce of gold. This is a good price when compared to other gold project acquisitions in the Western Australia region. The company hopes to begin its maiden drilling exploratory campaign at the project in January this year.
The Williamson Gold Mine was previously mined in 2005-2006 by the Agincourt Resources Limited company. It is said to have produced 23,000 ounces of gold. The Williamson Pit is over 700 meters long and 90 meters deep. It also has high grade zones that would promote underground mining at a later date. The Matilda Mine is actually a combination of seven shallow open pit mines.
Besides this project the company is also evaluating the development of the Scaddan and Zanthus Energy Projects for the export of coal and development of a coal to liquid facility. These projects are located near Esperance, Western Australia. They are said to have 1.4 billion tonnes of coal at a shallow depth promising low mining costs.