Black Cat Syndicate (ASX:BC8) reports it enjoyed substantial asset portfolio growth in 2022 with a focus on adding ‘high-grade’ gold operations capable of near-term production.
The company reports that during the year the Coyote and Paulsens Gold operations in Western Australia were acquired, both with already installed infrastructure, confirmed multi-mineral resources with upside and a proven history of high-grade gold production.
At the Coyote Gold Operation, drilling during 2022 included 11,071m of RC and 6,200m of diamond, completed safely and efficiently
At the Coyote Gold Operation, drilling during 2022 included 11,071m of RC and 6,200m of diamond, completed safely and efficiently. In a strong validation of the new geological model, almost every hole returned anomalous gold from multiple quartz lode structures.
Black Cat Syndicate reports, importantly, the Axial Core Zone was defined in the new geology model as being an important host to high-grade gold at Coyote Central.
Mineralisation was discovered between and beyond Speedy and Kavanagh in previously untested positions. Encouragingly multiple veins were intersected in nearly all holes.
Significant results from the Axial Core Zone around Speedy and Kavanagh included:
- 3m @ 17.39 g/t Au from 2m (22CYRC0019).
- 3m @ 29.43 g/t Au from 82m (22CYRC0002).
- 1m @ 99.50 g/t Au from 86m (22CYRC0035).
- 1m @ 11.40 g/t Au from 100m (22CYRC0005).
An extensive geological review was undertaken focussing initially on the Gabbro Veins which are shown to be mineralised over a strike length of 1km and which run broadly parallel to the existing underground infrastructure.
The Gabbro Veins sit in the footwall, have never been mined and present a significant new mining opportunity at Paulsens. The Gabbro Veins are located adjacent and up to 200m from the decline and can form as swarms over areas up to 4m wide over the +1km strike length.
As part of this review significant, near mine, high-grade results from outside of the current Resource and not previously reported were:
- 1.42m @ 102.37 g/t Au from 19.34m (PDU4518).
- 6.19m @ 15.86 g/t Au from 23.72m (PDU4550).
- 0.94m @ 58.10 g/t Au from 19.50m (PDU4544).
Drilling also commenced on the Paulsens Repeat target, located 200m below the existing mine workings. Initial drilling has validated the geology model with assay results due January 2023.
