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Black Cat Syndicate (ASX:BC8) has achieved its first gold pour from the 1.2 million tonne per annum Lakewood processing facility in Western Australia, with ore taken from one of the key open pits within the Kal East gold operation.
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This pour has come less than a month after Black Cat picked up Lakewood.
“Processing through Lakewood has started well with throughputs, grade, and recoveries all above expectations,” managing director Gareth Solly said.
Located six kilometres southeast of Kalgoorlie and 40 kilometres from the Kal East operation, Lakewood was acquired by the company on March 31, with ore haulage to the site beginning immediately.
This includes approximately 60,000 tonnes of ore from Myhree open pit since April 1, achieving up to 1.2 Mtpa throughput and more than 10,000 tonnes on the ROM as crushed stocks built steadily.
“First gold at Lakewood is yet another successful milestone in the accelerated Kal East plan.
With an active drilling program now underway, Black Cat enters an exciting period of gold production with substantial exploration potential,” Mr Solly said.
Altogether, 42,000 tonnes at 2.10 grams per tonne – with more than 95% recovery – have been processed, producing 2,740 ounces.
From this, Black Cat achieved its first gold pour on April 16, producing 757 ounces.
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Beyond that, Mr Solly declared, “Black Cat is now transforming into a significant Western Australian gold producer – producing more gold, sooner.”
After this major first pour reported today, the company will continue to progress mining activities – such as optimisations, tendering and dewatering – at Kal East, in addition to underground drilling at Paulsens.
BC8 has been trading at $1.03 on Thursday after a moderate -0.5% slip.
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