Black Cat Syndicate (ASX:BC8) is ready to pounce into further regional work over an expanded area of its wholly owned Coyote Gold Operation in Western Australia.
The $71.38 million market capitalisation company says planning has begun for drilling over several targets, including the Snork and Pebbles East prospects.
Meanwhile, the company reports it is considering expressions of interest in relation to the Gremlin target.
The upcoming exploration comes after Black Cat announced today (25 January 2024) that it had completed geophysical re-processing and surface sampling at Coyote.
This geophysical re-processing included open-file, legacy, and company and multiclient data from previous aerometrics, radiometrics, electromagnetic (EM) surveys, and 2D seismic work.
Black Cat says the work highlighted and refined additional Coyote-style anticline targets south of Coyote Central and additional potential magmatic nickel-platinum group element (PGE) targets near Gremlin.
Surface sampling was undertaken across several targets, including Gremlins, and uncovered a new regional geology model and new anomalies at the Coyote Syncline, Lewis Granite, and Track Syncline.
The company notes sampling also expanded the Snork prospect and confirmed near-surface anomalism at Pebbles East along the Tanami Fault.
Further, termite mound sample results from the Gremlin target returned anomalous nickel above and in close proximity to the interpreted mafic intrusions in the area.
Black Cat says historical surface sampling also returned anomalous nickel, showcasing the potential for this exploration technique to apply to base metals mineralisation in addition to gold.
Managing Director Gareth Solly says: “Our new geology model, combined with applying low-cost sampling techniques, has identified multiple exciting anomalies.
The thin post-mineralisation cover around Coyote has historically been challenging for exploration, relying on roatry air blast (RAB) or aircore drilling to sample below cover. These new sampling techniques enable us to rapidly test our new geology model in the field.
We have let the termites and spinifex bushes do the hard work over large areas and now plan to capitalise on the results of that work.”
The Coyote Project covers a total landholding of 819km-square and has a current resource of 645,000oz @ 5.5 grams per tonne (g/t) gold, including the Coyote Central resource of 430,000oz @ 8.5g/t gold — one of Australia’s ‘highest-grade’ gold deposits.
Black Cat Syndicate is a gold explorer focused on becoming a multi-operation gold producer.
Write to Adam Drought at Mining.com.au
Images: Black Cat Syndicate
