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blackham resources ltd (BLK) Details

Blackham Resources Limited explores for and develops gold properties in Australia. The company holds interest in the Matilda Gold project and the Wiluna Gold Plant located in Australia. Blackham Resources Limited is based in West Perth, Australia.

blackham resources ltd (BLK) Top Compensated Officers

Executive Chairman & Interim CEO
Total Annual Compensation: A$379.0K
Chief Financial Officer
Total Annual Compensation: A$345.8K
Advisor
Total Annual Compensation: A$546.8K
Compensation as of Fiscal Year 2018.
blackham resources ltd
Blackham Resources Limited Provides an Update of Drilling Results from the High-Grade, Free Milling Golden Age Orebody and the Nearby Gap Pit

Blackham Resources Limited provided an update of drilling results from the high-grade, free milling Golden Age orebody and the nearby Gap Pit, closely located to Blackham's 1.8Mtpa Wiluna Gold Plant. With the latest round of drilling complete and all assays received, resource estimates and mining studies are currently being updated and optimised. Blackham's strategy to focus on the mining of its high margin free milling ore bodies whilst pursuing its low-cost expansion pathway to 120kozpa gold production with long mine life. Golden Age Lower ­ Underground Mining/Development: Development continues at GAL on the 800m and 825m RL drives. The high-grade mineralisation has been intercepted as expected on the 825m RL drive with development on the 800m RL drive expected to be in ore in May. The high-grade quartz lode to date is as expected with development faces assaying at 5-20g/t. GAL, Blackham's highest-grade ore source, has been consistently extended over the last 2 years and has successfully maintained a rolling mine life of at least 6 months. If dual underground mining areas (GAL and GAN) can be mined simultaneously, it will significantly increase the volume of high-grade ounces delivered to the plant. Blackham's strategy for GAL is to expand the resource and mining rate substantially above historical production of approximately 700-1,000 ounces per month. Recent underground core drilling was aimed at extending the Golden Age Lower (GAL) mineralisation down dip and down plunge, which remains open, including: 5.61m @ 13.26g/t with 63g*m, 12.80m @ 2.34g/t with 28g*m and 2.00m @ 14.02g/t with 28g*m. New drilling at Golden Age North (GAN) shows excellent grades below the current pit, including: 8m @ 8.92g/t from 16m, incl. 4m @ 17.00g/t with 71g*m, 3m @ 12.48g/t from 139m, incl. 2m @ 17.95g/t with 37g*m, 7m @ 5.18g/t from 162m, incl. 1m @ 32.50g/t with 36g*m and 6m @ 3.69g/t from 119m, incl. 1m @ 9.16g/t with 22g*m. Studies are in progress on potential open pit cut-back and/or shallow underground operations at the high-grade GAN gold structure, which remains open at depth. New drilling below and surrounding the historical Gap Pit at the Western End of Golden Age, demonstrates strong grades at shallow depths, including: 3m @ 58.91g/t from 71m with 177g*m, 8m @ 6.07g/t from 10m, incl. 2m @ 20.04 g/t with 54g*m, 8m @ 2.22g/t from 25m with 18g*m and 4m @ 4.86 g/t from 51m, incl. 1m @ 12.70 g/t with 19g*m.

Blackham Resources Limited Announces Management Changes

The Board of Blackham Resources Limited announced Senior Management and Board changes to streamline the Company's leadership following a challenging period. The Managing Director and Chief Executive Officer ("CEO") of the Company, Bryan Dixon, and the Board of Blackham have mutually agreed to terminate the CEO's services contract with the Company. Mr. Dixon will step down from the Board and resign as CEO effective 1 May 2019. Mr. Dixon will continue to provide assistance to the Board, Executive Chairman and incoming CEO as required during his notice period to facilitate an orderly handover. Mr. Dixon was the founding Managing Director of the Company and has held that role for 13 years. He has been instrumental in consolidating the Wiluna goldfield into a single company, growing the resources to 6.7Moz and taking the Company from an explorer to a producer. The Board of Blackham thank Mr. Dixon for his dedication and hard work during this period. During the handover period and process of appointing a replacement CEO, the current Executive Chairman, Mr. Milan Jerkovic, has agreed to assume day to day management of the Company on an interim basis until a replacement CEO is appointed. The remuneration terms agreed with Mr. Jerkovic during the transition period are set out in Schedule 1. The Board will immediately commence recruiting for a replacement CEO and also an additional Non-Executive Director to broaden and strengthen the overall skills base of the current Board. The current Chief Operating Officer, Mr. Richard Boffey, has given notice and will be leaving the Company at the end of May 2019 to take up another opportunity. Mr. Boffey joined the Company in October 2015 and oversaw the operations during the transition from developer to producer. The current General Manager at the Wiluna Operations, Mr. Guy Simpson, will assume control of all direct management of operations and planning associated with the current operations. Mr. Simpson's new role of General Manager Operations and Planning will report initially to the Executive Chairman and ultimately directly to the CEO once that appointment is made. The Company is also in the process of establishing a permanent new position specifically for the General Manager of Projects and Business Improvement, which is currently filled on a contract basis.

Blackham Resources Limited Announces Drilling Confirms Increased Widths of Williamson Resource

Blackham Resources Limited announced that the last of the drilling results from its recent programme at the free-milling Lake Way Williamson deposit, located 18km south of Blackham's Wiluna gold plant. Blackham's exploration strategy is designed to strengthen and lengthen free-milling mine life by progressively converting the large free-milling 1.3Moz Resource base (22.8Mt @ 1.76g/t) to Reserves, prioritising the highest margin deposits. Drilling from December 18 to February 19 comprised 46 RC holes (6,331m) and 9 DD holes (1,362m) aimed at confirming resources and testing for extensions of the pit design. Assay results were presented for the first 39 RC holes on 7th March 2019 with the final assay results now presented for the last 7 RC holes. The Williamson pit is scheduled to be mined from the Sept'19 quarter, with resource modelling already commenced and revised open pit mine designs to follow. The Williamson Mine is a wide, bulk tonnage free-milling orebody hosted in a stock-worked monzogranite. The Williamson Mine currently has a Resource of 5.6Mt @ 1.7g/t for 298koz1 Au over 2.2 kilometres of strike. An open pit Reserve of 0.95Mt @ 2.2 g/t for 68koz2 is contained in a cutback on the southern half of the existing Williamson pit. Infill drilling has now been completed over 1km of strike. The recent drilling results have reinforced the potentially economic tenor of mineralisation up to 500m south of the reserve pit design. The results suggest there is potential for a significantly extended pit length. The mining economics should also improve through the earlier access to ore in the southern extensions without the significant waste stripping as required for the main cut-back.

 

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