Infill diamond drilling at Black Cat Syndicate’s (ASX: BC8) Myhree deposit has uncovered a bonanza gold interval grading 1,130 grams per tonne.
The interval was 0.5m and within a broader intercept of 1.7m grading 335.96g/t gold.
Infill drilling is underway at the deposit to update the resource and provide further information on the geological, geotechnical and metallurgical characteristics of the mineralisation.
Other assays received to-date were 7m at 9.84g/t gold from 59.5m, 4.74m at 5.99g/t gold 166.3m, and 3.04m at 3.07g/t gold from 140.6m.
Black Cat managing director Gareth Solly said the first diamond holes into Myhree show the deposit’s “outstanding potential”.
“We are about to commence reverse circulation drilling to test the Myhree Southern Offset.”
“Confirmation of the offset will have important implications for the current feasibility study,” Mr Solly added.
Part of the Bulong gold project in Western Australia, Black Cat is carrying out an open pit feasibility study on the Myhree and Trump deposits.
The study is scheduled for completion in the June 2020 quarter with extensional RC drilling due to kick-off in the current period.
RC drilling will follow up mineralisation to the south-east of Myhree known as the Myhree Southern Offset where previous results were 10m at 2.77g/t gold.
Extensional drilling will also be undertaken at Trump North and will re-test previous results of 4m at 13.46g/t gold.
Meanwhile, exploration drilling will also be carried out at the Greater Woodline area at multiple targets including Anomaly 38, Woodline, Fenceline and Solitaire.
These new targets were identified in a recent sub audio magnetic survey.
“This promises to be an action-packed quarter for Black Cat,” Mr Solly said.
The Bulong project covers 128sq km of tenements about 25km east of Kalgoorlie.
According to Black Cat, historical production of around 152,000oz gold has been recorded at the project, which occurred prior to world war one.
Bulong has access to infrastructure including sealed roads, power, five regional mills, support services and a nearby workforce to draw from.
By mid-morning trade, Black Cat’s share price had lifted 1.19% to $0.425.