- Black Cat Syndicate (BC8) updates the JORC 2012 mineral resource at Fingals Fortune within the Kal East Gold Project in Western Australia
- Upon acquisition in July 2020, Fingals Fortune had a resource of 1.2 million tonnes at 2.3 grams per tonne (g/t) of gold for 88,000 ounces
- Since then, it has increased more than 200 per cent to 4 million tonnes at 2.2 g/t gold for 275,000 ounces due to discovery and extensional drilling
- Based on this growth, the potential exists to further grow the resource with exploration targeting underway
- Shares in Black Cat are up 6.84 per cent on the market and are trading at 62.5 cents
Black Cat Syndicate (BC8) has updated the JORC 2012 mineral resource at Fingals Fortune within the Kal East Gold Project in Western Australia.
The Kal East Gold Project consists of 756 square kilometres of highly prospective tenements and has produced more than 600,000 ounces of gold.
At the time of acquisition in July 2020, Fingals Fortune had a resource of 1.2 million tonnes at 2.3 grams per tonne (g/t) of gold for 88,000 ounces.
Since then, it has increased more than 200 per cent to 4 million tonnes at 2.2 g/t gold for 275,000 ounces due to discovery and extensional drilling.
This is a significant milestone for Black Cat with more than 80 per cent of the resource classified as indicated.
Based on this growth, the potential exists to further grow the resource with exploration targeting underway.
“Fingals Fortune is certainly living up to its name. After less than 18 months and adding almost 200,000 resource ounces, we now see even more potential for growth. The area will remain a strong focus for our discovery efforts into the future,” Managing Director Gareth Solly said.
“We are planning to commence open pit mining at Fingals, after completion of mining at Myhree. Importantly, much of the resource we were initially targeting for open pit mining has now been converted to indicated resource.”
Shares in Black Cat were up 6.84 per cent on the market and were trading at 62.5 cents at 12:46 pm AEDT.