Black Cat Syndicate (ASX:BC8) reports it has started a diamond drilling program at its newly acquired Coyote Gold Operation in Western Australia.
In June, Black Cat Syndicate acquired the Coyote and Paulsens gold operations from Northern Star Resources (ASX:NST), which has given it control of 1,770km-square of land in three prime WA gold regions and its resources total more than 2Moz.
Commenting on the drill program, Black Cat Managing Director Gareth Solly said: “Just one month after completion of the Coyote acquisition both RC and diamond drilling have commenced.
“Drilling will be ongoing during the 2022 dry season”
Drilling will be ongoing during the 2022 dry season. The high-grade Kavanagh lode has a resource of 77,000oz at 13.5g/t Au which we expect to upgrade and grow.
Kavanagh is a clear example of the value and upside we see at Coyote. Results from all activities will be released regularly throughout 2022.”
Coyote is located in Northern Australia, some 20km on the WA side of the WA/NT border, on the Tanami Highway and spans an area of around 440km-square.
It has historical production of 211,000oz at 4.9g/t Au from an underground mine and multiple open pits.
Coyote is hosted within a parasitic anticline within the larger folded Coyote sequence. Gold is hosted both within the fold hinge and the limbs as stratigraphic parallel gold veins. Veins generally range in scale from 1cm to 10cm, and often form as swarms.
The company reports that these veins frequently display ‘bonanza’ grades.
Mineralisation occurs within multiple stratigraphic horizons and is not closed off along strike, down plunge or at depth. Drilling will focus on extensional and infill drilling to simultaneously grow and upgrade the existing high-grade Coyote Resources, the company said.
Images: Black Cat Syndicate Ltd
