Blackham Resources recommence trading on the ASX following the release of the company's capital raising details which comprises a placement of 4.75 million shares at USD 0.20 to raise USD 950,000 to progress the Matilda gold project.

Matilda is highly prospective due to be hosted within a historical gold province, being in the Wiluna region of Western Australia which importantly has some infrastructure in the area and also hosts a resource of 10.2 million tonnes 1.8 gram per tonne for 601,000 gold ounces.

The project covers an extensive 600 square kilometers and has experience minimal exploration over the past decade. History on the project includes gold being first discovered in 1886 with mining activities peaking in the 1930's with modern exploration in the 1960's more focused on nickel.

Funds will also be allocated to exploration and development of the Scaddan and Zanthus Coal Projects. Reverse circulation drilling to commence at Matilda

Blackham is poised to commence 2,000 meter reverse circulation drilling program at Matilda in the near term with the management considering the project has the potential for both sizeable open pit and high grade underground deposits.

Previous drilling has identified ore grade prospects that require further follow up programs with the new program designed to test the continuity of the existing drill data.

(Sourced from www.proactiveinvestors.com.au)