- Black Cat Syndicate (BC8) kicks off diamond drilling at its newly acquired Coyote gold operation in Western Australia
- Through its drilling program, BC8 is looking to upgrade and extend the Kavanagh lode which contains a resource of 77,000 ounces grading 13.5 grams of gold per tonne
- This round of drilling follows on from reverse circulation (RC) drilling that is continuing at the Speedy open pit, before moving to regional exploration
- Simultaneously, stockpile sampling and sampling of un-assayed historic diamond core has begun, BC8 expects results from all activities throughout the remainder of this year
- Company shares are up 4.92 per cent trading at 32 cents at 12:12 pm AEST
Black Cat Syndicate (BC8) has begun diamond drilling at its newly acquired Coyote gold operation in Western Australia.
The operation is situated on the WA side of the WA and Northern Territory border in Northern Australia and was acquired from Northern Star Resources (ASX:NST) in mid-June.
Through its drilling program, Black Cat is looking to upgrade and extend the Kavanagh lode which contains a resource of 77,000 ounces grading 13.5 grams of gold per tonne.
The lode contains intercepts along strike of the resource and diamond drilling will follow up intersections outside of the resource, including one drill hole that returned 0.8 metres at over 154 grams of gold per tonne.
This round of drilling follows on from reverse circulation (RC) drilling that is continuing at the Speedy open pit, before moving to regional exploration.
Black Cat Managing Director Gareth Solly said the company expects to upgrade and grow the resource.
“Kavanagh is a clear example of the value and upside we see at Coyote,” he said.
The company has also begun stockpile sampling and sampling of unassayed historic diamond core.
It expects to receive results from all activities throughout the remainder of this year.
Company shares were up 4.92 per cent trading at 32 cents at 12:12 pm AEST.