- Black Cat Syndicate’s (BC8) new gold resource for its Imperial, Majestic, Sovereign and Kal East Gold assets has reached over one million ounces
- It forms part of a 14.3 million tonnes at 2.2 g/t gold total mineral resource, which has been fuelled by a combination of discovery, acquisition and extensional drilling
- Exploration has given way to new drill targets for the explorer and efforts to further resource upgrades at Fingals Fortune, Fingals East, Jones Find and Rowe’s Find are underway
- Black Cat’s Managing Director Gareth Solly said the company is well-positioned to transform into a developer in the near-term
- Black Cat is up 6.06 per cent on the market, trading at 70 cents per share
Black Cat Syndicate’s (BC8) new gold resource for its Imperial, Majestic, Sovereign and Kal East Gold assets has reached over one million ounces
The company’s total mineral resource now sits at 14.3 million tonnes at 2.2 g/t gold via a combination of discovery, acquisition and extensional drilling.
When combined, Black Cat’s Western Australian situated Imperial, Majestic and Sovereign resources have increased 47 per cent to 5.2 million tonnes at 2.3 g/t gold for 378,000 ounces over a strike length of roughly 950 metres.
The Majestic underground resource, which is tipped as one of the company’s potential production centres, increased by 40 per cent, which included a grade increase of 56 per cent to 5.6 g/t gold.
Promisingly, ounces per vertical metre are up to 1500 ounces in areas of better drilling density, which BC8 says indicates the resource is drilling constrained at depth.
Looking ahead, Black Cat has eyes for new gold targets that have been established in the Greater Majestic area including down plunge of Imperial, which is currently being drilled and at Sovereign and directly south of Majestic.
Further resource upgrades are also underway at Fingals Fortune, Fingals East, Jones Find and Rowe’s Find and are expected to be released on an ongoing basis.
Black Cat’s Managing Director Gareth Solly described the resource increase as an amazing achievement for the company.
“Additionally, we have now identified multiple new targets, which will be drilled in the coming months,” he added.
“With the recent option to purchase key components of a processing facility, we are well-positioned to transform into a developer in the near term,” he commented.
Black Cat is up 6.06 per cent on the market, trading at 70 cents per share at 1:46 pm AEDT.