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- Black Cat Syndicate (BC8) has entered a binding sale and purchase agreement to acquire the Yarri East Project in the Kalgoorlie region of Western Australia
- Black Cat will pay a cash consideration of $200,000 to a subsidiary of Newmont Corporation and RBR Group to acquire 100 per cent of the project
- Yarri East comprises four exploration licences and is located immediately north of its Bulong Gold Project
- Once the acquisition is complete, Black Cat will own 491 square kilometres of highly prospective tenements in the region
- Company shares remain flat and are trading for 87 cents each
Black Cat Syndicate (BC8) has entered a binding sale and purchase agreement to acquire the Yarri East Project to complement the Bulong Gold Project.
Black Cat will pay a cash consideration of $200,000 to a subsidiary of Newmont Corporation, and RBR Group to acquire 100 per cent of the Yarri East Project.
Yarri East comprises four exploration licences and is located immediately north of its Bulong Gold Project.
“This acquisition creates an enviable and dominant land position covering over 45 kilometres of strike along the highly prospective Hampton-Victory corridor,” Managing Director Gareth Solly said.
The Bulong and Fingals mineralised corridors are both associated with the Hampton and Victory faults.
Once the acquisition is completed, Black Cat will own 491 square kilometres of highly prospective tenements to the east of Kalgoorlie, Western Australia.
Along with Bulong and, unofficially, Yarri East, Black Cat also owns the Fingals Gold Project and the Rowe’s Find Gold Project. Together, these projects cover more than 140 square kilometres.
Within 50 kilometres of Kalgoorlie, Black Cat will be the fifth-largest landholder, behind Northern Star Resources (NST), Horizon Minerals (HRZ), Zijin Mining and Evolution Mining (EVN).
The company will review exploration opportunities and priority targets.
Immediate targets at Yarri East include Billabong, which is a 600 metre-long gold and arsenic in-soil anomaly that was discovered in 1994, and the Muffler Hill and Philomena targets.
Company shares remain flat and are trading for 87 cents each at 3:42 pm AEST.
