- Gold explorer Black Cat Syndicate (BC8) is continuing to expand its Bulong project, with new drilling confirming further high-grade mineralisation
- The program revealed promising results from all holes, indicating the resource to be thicker than previously modelled
- Further infill diamond drilling has also been conducted to potentially upgrade inferred resources to indicated, with assay results still pending
- A 43-hole sterilisation drilling program has been conducted to ensure mineralisation was not present at the area slated for mine infrastructure
- As further results from the drilling programs come into play, these will be used to complete Myhree’s feasibility study through the next two quarters
- Black Cat is up 3.9 per cent to 40 cents per share
Gold explorer Black Cat Syndicate (BC8) is continuing to expand the potential of its Bulong project, with new drilling confirming further high-grade gold mineralisation.
Myhree prospect
Diamond drilling in late 2019 returned samples with visible gold from narrow veins, orientated east-west and dipping underground to the south.
These veins run perpendicular to the general trend of mineralisation. The company suspects they form a high-grade structure that was untested by previous drilling.
To test these structures, Black Cat devised a program of shallow reverse circulation (RC) holes parallel to the known deposit to test for further mineralisation.
The program revealed promising results from all holes, indicating the resource to be thicker than previously modelled.
This theory will be tested in the next drilling program, scheduled to begin in late May.
Mine planning
A 43-hole sterilisation drilling program has been conducted to ensure mineralisation was not present at the area slated for mine infrastructure.
Two of the holes found small amounts of mineralisation, which will be followed up in late May to see if there’s more to the story.
Further infill diamond drilling has also been conducted to potentially upgrade inferred resources to indicated, with assay results still pending.
So far, Black Cat has built a 294,000 ounce inferred resource at Bulong, with 84,000 ounces in the indicated category.
As further results from the drilling programs come into play, these will be used to complete Myhree’s feasibility study through the June and September quarters.
Bulong has sealed road access, mains power on-site and processing facilities within 100 kilometres.
There are also support services and a residential workforce within 30 minutes of the site, and some potential for exploitable base metals at the project — all indicating the area is looking ripe for development.
Not a bad profile for a company that only listed on the ASX a little over two years ago.
Black Cat is up 3.9 per cent to 40 cents per share as at 2:40 pm AEST.