Black Cat Syndicate Limited (ASX: BC8) announced that the RC drilling activities at Majestic and Fingals Fortune, both part of the Fingals Gold Project in WA has uncovered high-grade gold results.
The company reported that the first 16 holes (~3,482m) at Imperial/Majestic have been drilled, targeting extensions to the Imperial/Majestic deposits.
BC8 said that the results from the first 3 holes are encouraging with multiple gold zones in each hole with a number of high-grade intersections including 6m @ 7.01 g/t Au from 167m; 4m @ 9.11 g/t Au from 178m; 2m @ 15.40 g/t Au from 184m; and 6m @ 6.59 g/t Au from 53m.
The company reported that the results from a further 31 holes at Fingals Fortune have also been received. Highlights include 3m @ 8.55 g/t Au from 25m; 1m @ 23.20 g/t Au from 33m; 1m @ 25.00 g/t Au from 88m; and 2m @ 7.17 g/t Au from 55m.
Black Cat Syndicate announced that a JORC Mineral Resource update for Fingals Fortune is expected to be completed in October 2020, and other Resources will be updated on an ongoing basis.
The company said that its +60,000m drilling program is tracking well with ~13,000m drilled in the September 2020 quarter. BC8 said that both RC and diamond drilling are currently continuing at Imperial/Majestic.
Fingals gold project
Black Cat controls 491km2 of highly prospective tenements to the east of the world class mining centre of Kalgoorlie, WA. The three main project areas include Bulong Gold Project, Fingals Gold Project, and Rowe’s Find Gold Project.
Fingals Gold Project comprises ~100km2 of land located ~30km south east of Bulong. This area contains multiple recently mined Resources and extensive areas of historic mining and limited modern exploration.
Significant deposits within Fingals project include Majestic, Imperial, Fingals Fortune OP, Fingals Fortune UG, Wombola Dam, and Hammer and Tap OP.
Imperial/Majestic deposits: Imperial/Majestic is located 50km SE of Kalgoorlie and sits on mining lease M25/350. Both deposits were mined during 2016-2018 for 1.439Mt @ 2.5 g/t Au for 113,393 oz. The current combined Resources of 3.2Mt at 2.5 g/t Au for 260,000 oz are open along strike and at depth.
Fingals Fortune deposit: Fingals Fortune sits on a number of mining leases and the area was mined in the early 1990’s. Historical mining extracted ~420,000t @ 2.7 g/t Au for 36,500 oz from the Fingals Fortune open pit and another 20,200 oz from three nearby satellite pits.
Fingals Fortune strikes north/north-west and dips shallowly to the west. The current Resource (1.2Mt @ 2.3 g/t Au for 88,000 oz) is open along strike and at depth. Numerous targets have been identified in the Fingals Fortune area
Drilling at Fingals project
The company had recently commenced RC drilling activities at Majestic and Fingals Fortune, both part of the Fingals Gold Project.
Imperial/Majestic: BC8 said that it had commenced a drill program at Imperial/Majestic focussed on confirming and extending the current Resource which is only constrained by a lack of drilling.
BC8 said that 16 RC holes were completed for 3,482m, which includes RC pre-collars for four diamond tails. The company announced that results have been received from the first 3 holes showing multiple high-grade gold zones in each hole.
Fingals Fortune: BC8 said that at Fingals Fortune, RC drilling had commenced during August 2020 with the first program designed to extend and infill the existing Resource.
The company noted that the first batch of 18 holes (1,904m) had intersected multiple mineralised veins. BC8 said that encouraging assays have now been returned from a further 31 holes (2,825m) at the Fingals Fortune area.
High-grade gold uncovered
Black Cat Syndicate reported that it has received high-grade gold results from the drilling at Imperial/Majestic and Fingals Fortune deposits.
Imperial/Majestic
The company announced that multiple gold zones were identified from the drilling at Imperial/Majestic.
Significant intersections include 6m @ 6.59 g/t Au from 53m (20IMRC003) – Imperial; 6m @ 7.01 g/t Au from 167m (20IMRC002) – Majestic; 4m @ 9.11 g/t Au from 178m (20IMRC002) – Majestic; 2m @ 15.40 g/t Au from 184m (20IMRC002) – Majestic; 2m @ 7.36 g/t Au from 223m (20IMRC002) – Majestic; 3m @ 4.66 g/t Au from 156m (20IMRC002) – Majestic; and 1m @ 10.20 g/t Au from 249m (20IMRC001) – Majestic.
Fingals Fortune
Black Cat Syndicate announced that high-grade results were reported from the drilling at Fingals Fortune.
Highlights include 3m @ 8.55 g/t Au from 25m (20FIRC028) – extensional; 1m @ 23.20 g/t Au from 33m (20FIRC033) – extensional; 1m @ 25.00 g/t Au from 88m (20FIRC046) – infill; 2m @ 7.17 g/t Au from 55m (20FIRC048) – infill; 2m @ 7.03 g/t Au from 24m (20FIRC033) – extensional; and 4m @ 3.01 g/t Au from 20m (20FIRC038) – extensional.
The company said that the significant results from this first program at Fingals Fortune confirm the potential for substantial Resources growth in the area. Mineralisation exists as a series of stacked west dipping lodes containing nuggety gold grades. BC8 said that the drilling has extended the mineralisation and uncovered new lodes in every direction, with lodes remaining open.
Updates and next steps for Fingals project
BC8 said that RC drilling is continuing and targeting extensions to existing Resource at Imperial/Majestic. The company said that the regional drilling will target discovery of similar systems to Imperial/Majestic, including Jones Find, Crown and along strike north of Imperial.
Black Cat Syndicate said that diamond tails are also currently being drilled at Majestic, targeting deeper extensions.
BC8 said that the latest results from Fingals Fortune will form part of the upgraded Resource in October 2020. The company said that the next round of drilling to further extend the Fingals Fortune Resource will commence in October 2020. BC8 said that the peripheral pits to the east of Fingals Fortune will also be targeted with a maiden drilling program at that time.
RC drilling program update
Black Cat announced that its +60,000m drilling program is tracking well with ~13,000m drilled in the September 2020 quarter.
The company said that RC drilling is continuing at Imperial/Majestic, drilling diamond pre-collars at Majestic and extensional holes beneath Imperial. BC8 said that once this is completed, the RC rig will move to regional targets in the surrounding area.
Black Cat said that the RC rig will then move to Fingals Fortune to complete infill (convert Inferred Resource to Indicated) and extensional drilling for near surface targets, including the Fingals satellite pits.
The company said that other drilling targets to be drilled include extensional drilling at Rowe’s Find (5,000m); regional drilling at Bulong (10,000m); regional drilling at Black Hills (5,000m); other regional targets (10,000m); and extensional drilling at Wombola (5,000m).
BC8 said that diamond drilling is currently being completed at Majestic, targeting deeper Resource extension. Once completed, the diamond rig will move to geotechnical drilling at Queen Margaret, Boundary, Trump, and Fingals Fortune over the coming months.
Management comments
Black Cat’s Managing Director, Gareth Solly said: “Thick high-grade results from our initial drilling at both Imperial and Majestic have been pleasing. RC drilling is ongoing in this area as part of our planned +60,000m drilling program.
The results at Fingals Fortune were also encouraging, intersecting new lodes to the south, and will form part of an updated Resource release in October 2020. Resources at Myhree, Boundary and Trump will also be updated in October 2020.
We are also pleased to advise that various studies are planned to be released in October 2020 (subject to timing of independent reviews) including: the Myhree Stage 1 and 2 open pit prefeasibility study and scoping studies for Myhree underground, Trump and Boundary open pits; Imperial/Majestic underground and the Fingals Fortune open pit.
Furthermore, a milling facility scoping study prepared by Como Engineers Pty Ltd will also be released with the above studies. This is all part of the drive to achieve our targets of 1 million ounces of Resource and a wholly owned milling facility with at least three years feed ahead of it.”