- Black Cat Syndicate (BC8) returns final infill and extensional diamond drilling results from the Majestic site at its Kal East gold project near Kalgoorlie in Western Australia
- The company says the results confirm the potential for an underground mine at Majestic, which will be in conjunction with an open pit at Myhree
- In addition, reverse circulation (RC) drilling continues to confirm high-grade mineralised zones within the Majestic footwall that were previously sparsely drilled
- The company also says two RC drill rigs are currently targeting increases to and upgrades of shallow open pit resources that will be used to calculate maiden ore reserves
- Shares last traded at 60 cents on January 17
Black Cat Syndicate (BC8) has returned final infill and extensional diamond drilling results from the Majestic site at its Kal East gold project near Kalgoorlie in Western Australia.
In line with earlier assays, the final holes show strong mineralisation intervals at depth, including 0.4 metres at 108 g/t gold from 401.2 metres.
The company said the results confirm the potential of the planned underground mine at Majestic which will be in conjunction with an open pit at Myhree.
In addition, reverse circulation (RC) drilling continues to confirm high-grade mineralised zones within the Majestic footwall that were previously sparsely drilled.
The company also said two RC drill rigs are currently targeting increases to and upgrades of shallow open pit resources.
An updated resource for Majestic underground is currently being estimated which will allow updated mine planning and a maiden ore reserve to be completed in the March quarter.
“The infill and extensional results from Majestic further confirm the potential of the planned underground mine. Identification of mineralised footwall zones are expected to further enhance mine economics,” Black Cat Managing Director Gareth Solly said.
“Additional extensional drilling of Majestic will be undertaken from underground positions after the commencement of mining. Maiden Ore Reserves are planned for completion in the March 2022 quarter. Drilling with two RC rigs is ongoing.”
At the previous market close on January 17, shares were trading at 60 cents.