- Black Cat Syndicate (BC8) increases the Majestic Mining Centre’s underground indicated resource by 43 per cent to one million tonnes at 4.5g/t gold for 143,000 ounces
- This takes the Kal East gold project’s resource, of which Majestic is part, to 18.3 million tonnes at 2.2g/t gold for 1.27 million ounces
- The update includes results from drilling in the second half of 2021 which focused on upgrading inferred resources to the indicated category
- Black Cat has also been granted works approval for several construction activities, including building an 800,000-tonnes-per-annum processing facility
- Company shares are down 4.2 per cent to trade at 57 cents
Black Cat Syndicate (BC8) has updated the JORC mineral resource for the Majestic Mining Centre, which is part of its Kal East gold project in Western Australia.
The underground indicated resource at the Majestic site has increased by 43 per cent to one million tonnes at 4.5 grams per tonne (g/t) of gold for 143,000 ounces.
As a result, the total resource for the Majestic Mining Centre has increased to 7.9 million tonnes at 2g/t gold for 507,000 ounces, and total resources at the broader Kal East project have grown to 18.3 million tonnes at 2.2g/t gold for 1.27 million ounces.
The latest resource update incorporates results from drilling in the second half of 2021 which focused on upgrading inferred resources to the indicated category for inclusion into a maiden ore reserve.
High-grade lodes in the Majestic underground remain open down-plunge and will be drilled from underground positions after mining commences.
“Our resources continue to grow in size and confidence with maiden ore reserves expected in the March 2022 quarter,” Managing Director Gareth Solly said.
In addition to the resource update, Black Cat has been granted works approval for construction and operation activities.
Specific work includes constructing an 800,000-tonnes-per-annum processing plant, a process water pond and power station, tailings storage facility and a dewatering pipeline from the Majestic pit.
Company shares were down 4.2 per cent to trade at 57 cents at 3:13 pm AEDT.