- Black Cat Syndicate (BC8) begins reverse circulation (RC) drilling at the Coyote Gold Operation in Western Australia
- Drilling will aim to upgrade and extend the Speedy lode at Coyote which currently contains a resource of 54,000 ounces of gold at a grade of 7.4g/t
- Black Cat will also follow up on intercepts outside of the resource which include two metres at 49.07g/t gold from 96 metres
- Once RC drilling wraps up, Black Cat will undertake diamond drilling which is set to begin in July
- Black Cat ends the day four per cent in the red with shares trading at 30 cents
Black Cat Syndicate (BC8) has begun reverse circulation (RC) drilling at the Coyote Gold Operation in Western Australia.
Drilling will aim to upgrade and extend the Speedy lode at Coyote which currently contains a resource of 54,000 ounces of gold at a grade of 7.4 grams per tonne (g/t).
Black Cat will also follow up on intercepts that sit outside of the resource which include two metres at 49.07g/t gold from 96 metres, two metres at 28.55g/t gold from 112 metres and two metres at 16.74g/t gold from 66 metres.
Additionally, stockpile sampling and sampling of the unassayed historically drilling diamond core has begun.
Once RC drilling wraps up, Black Cat will undertake diamond drilling which is set to begin in July.
“Just one week after completion of the Coyote acquisition our first RC drilling has commenced. Diamond drilling will also start in July and will be ongoing during 2022,” Managing Director Gareth Solly said.
“The shallow, high-grade Speedy lode has a resource of 54,000 ounces at 7.4g/t gold which we expect to upgrade and to grow. Speedy is a clear example of the value and upside we see at Coyote. Results from all activities will be released regularly throughout 2022.”
Black Cat has ended the day four per cent in the red with shares trading at 30 cents.