Black Cat Syndicate (ASX:BC8) reports diamond drilling has revealed a depth extension of the Coyote Axial Core Zone, located within the Coyote Gold Operation in Western Australia.
The company says assays from the final 4 diamond holes of a 13 hole program testing the down-dip and eastern strike of the Axial Core Zone extended the mineralised system 75m down-dip and 50m along strike to the east, with all holes also intersecting multiple mineralised quartz veins.
This drilling also targeted and intersected a mineralised dolomite intrusion in the core of the Axial Core Zone. The company states this is ‘broadly’ analogous to Newmont Mining’s (ASX:NEM) Oberon Deposit around 150km along strike to the east and potentially represents a new mineralisation style at Coyote. The margins of the dolerite intrusion are prospective areas for shear-hosted gold.
Black Cat Syndicate Managing Director Gareth Solly says the high-grade Coyote system gets better with every hole the company drills.
“The well-established vein-hosted gold lodes continue to extend at depth and along strike”
“The well-established vein-hosted gold lodes continue to extend at depth and along strike. There has also been an exciting new development with the intersection of a mineralised dolerite intrusion within the Axial Core Zone which opens-up multiple new shear-hosted gold targets.
More results are expected in December 2022 and work is ongoing to upgrade the high-grade resource in January 2023.”
Results from drilling at the Kavanagh Prospect include 0.90m @ 23.60g/t Au from 454.60m in 22CYDD013, and 3m @ 5.32g/t Au from 506m in CY22DD012.
Black Cat reports these results complement previously reported results from diamond drilling at the Axial Core Zone which included 1m @ 114g/t Au from 388m in 22CYDD004, 1.68m @ 22.30g/t Au from 438.32m in 22CYDD003a, and 1m @ 63.77g/t Au from 410.60m in 22CYDD009.
The company says the diamond core has provided ‘valuable’ information for planning future drilling in 2023. RC assays for 18 holes testing the zone between Kavanagh and Speedy are due in December 2022, and Black Cat also notes it has already extended the mineralisation into this zone by a total of 50m.
Black Cat also reports diamond and reverse circulation (RC) drilling has wrapped up for the 2022 field season with a total of 11,071m of RC and 6,200m of diamond drilling completed. The company says in a ‘strong’ validation of the new geological model, all holes to date have returned anomalous gold results.
In addition, the 3 most recent holes continue to extend the mineralisation down-dip and along strike to the east from Kavanagh, illustrating the growth potential within the Axial Core Zone.
Black Cat reports the current resource of 267,000 ounces @ 10.4g/t Au is based on historical concepts which interpreted the mineralisation to be largely confined to the steeply dipping South Limb of the Coyote Anticline.
Recent drilling results and reinterpretations by the company have highlighted the ‘significant’ growth potential within the Axial Core Zone, and an updated resource will be announced during January 2023 after reinterpretation and integration of the new drilling results.
Black Cat Syndicate is an Australian gold producer focused on its 3 projects in Western Australia which includes the Coyote, Paulsens and Kal East operations.
The Coyote Gold Operation has a gold resource of 3 million tonnes @ 5.1g/t Au for 488,000 ounces, and a 300,000 tonnes per annum processing facility. Historical production for the operation is over 211,000 ounces @ 4.9g/t Au per year.
Images: Black Cat Syndicate Ltd
