Bulong gives up more gold for Black Cat Syndicate
Extensional drilling at Black Cat Syndicate’s Bulong project has revealed mineralisation at the Myhree deposit extends along strike, at depth and down plunge.
Not long after posting a maiden resource for the Bulong gold project Black Cat Syndicate (ASX: BC8) has identified further thick and high-grade gold intersections from ongoing extensional drilling.
Recent extensional drilling was carried out at the Myhree deposit, with notable results of 28m at 5.06 grams per tonne gold from 4m, including 9m at 6.64g/t gold and 10m at 7.55g/t gold.
Other intersections were 10m at 4.24g/t gold from 77m, and 6m at 4.67g/t gold from 82m.
According to the company, the intersections could boost the maiden resource for the project which totals 1.4 million tonnes at 2.5g/t gold for 109,000 ounces.
Included in the resource is the Myhree estimate of 486,000t at 3.2g/t gold for 50,000oz, which is based on previous drill intercepts of 11m at 8.3g/t gold from 28m, 1m at 36.9g/t gold from 14m, and 11m at 4.03g/t gold from 104m.
“The potential for Myhree to become a near-term open pit is improving,” Black Cat managing director Gareth Solly said.
“Myhree is already a robust, high grade, near surface resource located on a mining lease and only 30km from Kalgoorlie.”
He noted that recent extensional drilling revealed the thickness and grade continued at depth.
“The challenge now is to determine just how big Myhree is and we are looking to fast-track the next round of reverse circulation drilling to mid-May 2019.”
Mr Solly added an updated resource for Myhree is scheduled for release in July.
Bulong gold project
Black Cat owns 100% of Bulong, which encompasses about 87 square kilometres of tenements near Kalgoorlie in WA.
The project hosts historic workings including the Queen Margaret mine which was operated before the first world war and produced about 152,000oz gold at 1g/t.
Black Cat debuted on the ASX at the start of 2018 and has since firmed up the Queen Margaret, Myhree-Boundary and Trump corridors, which, combined, total 17km.
To-date only 14% of the prospective corridors have been drilled.
By early afternoon trade, shares in Black Cat were up 10.53% to $0.21.