Black Cat Syndicate reports thick, high-grade results in and around Imperial/Majestic

by Leena Thomas
Image: Black Cat Syndicate Limited

Black Cat Syndicate Limited (ASX: BC8) announced that the RC drilling activities at Jones Find and Imperial/Majestic of the Fingals Gold Project in Western Australia has intersected thick, shallow zones of mineralisation with high grades.

The company reported that at Jones Find, the drill program intersected results including 13m @ 4.98 g/t Au from 30m; 13m @ 2.38 g/t Au from 26m; and 12m @ 1.41 g/t Au from 62m.

BC8 said that the assays from Imperial/Majestic targeting deposit extensions identified and a number of high-grade intersections, including 5m @ 5.04 g/t Au from 71m; 10m @ 3.36 g/t Au from 57m; and 8m @ 3.55 g/t Au from 174m.

Black Cat said that the DD results from Myhree at the Bulong Gold Project intersected high-grade lodes including 3.68m @ 9.35 g/t Au from 196.94m and 3.34m @ 9.74 g/t Au from 186.83m.

Black Cat said that its +60,000m drilling program is tracking well with an RC and diamond rig currently on site at Imperial/Majestic and Fingals Fortune.

Projects of Black Cat Syndicate

Bulong Gold Project

Bulong Gold Project comprises ~347km² of land located 25-50km east of Kalgoorlie. The combined leases capture in excess of 45km of prospective stratigraphic and structural targets with minimal modern exploration. Advanced deposits undergoing mining studies along with early stage exploration opportunities exist throughout Bulong.

Significant deposits within Bulong project includes Queen Margaret OP, Queen Margaret UG, Melbourne United OP, Melbourne United UG, Boundary OP, Boundary UG, Trump OP, Trump UG, Myhree OP, Myhree UG, Anomaly 38 OP, Anomaly 38 UG, Strathfield OP, and Strathfield UG.

Fingals Gold Project

Fingals Gold Project comprises ~368km2 of land located ~30km south east of Bulong and includes the recent acquisition from Aruma. This area contains recently and historically mined deposits but had seen only limited modern exploration.

Fingals comprises a number of modern mining areas, Imperial/Majestic, Fingals Fortune, and Wombola Dam and historically mined areas such as Hammer and Tap.

Since acquiring Imperial/Majestic in July 2020, Black Cat had initiated a significant drilling campaign and has already seen strong potential for increasing and upgrading Resources through depth and strike extensions of Imperial and Majestic – proven, with drilling ongoing; untested potential along strike and north of Imperial – still to drill; and mineralised areas drilled but not converted to Resources – successful maiden program at Jones Find.

Drilling at Fingals project

Black Cat reported that it had undertaken maiden drilling program at Jones Find to validate historical data and test for near surface mineralisation with potential for a maiden Resource estimation. BC8 said that the first RC drilling program was completed with 22 holes for 2,170m.

Black Cat announced that the maiden RC drilling program at Imperial/Majestic commenced in August 2020 (17 holes for 4,821m) and was designed to validate historical drilling as well as to grow Resources.

The first 3 holes were reported on 23 September 2020 with multiple high-grade gold zones in each hole, including 6m @ 7.01 g/t Au from 167m (20IMRC002); 4m @ 9.11 g/t Au from 178m (20IMRC002); 2m @ 15.40 g/t Au from 184m (20IMRC002); and 6m @ 6.59 g/t Au from 53m (20IMRC003).

The company said that the results for the remaining 14 holes, which are mainly extensional holes at Imperial, have now been received.

Diamond drill program: The company said that an initial 4-hole diamond program was also drilled at Imperial/Majestic with results expected in November 2020. The company said that the objective of the diamond drilling is to both validate and to grow Resources.

The company said that the diamond drilling is ongoing and additional RC drilling for Resources growth will also be completed during the December 2020 quarter.

High-grade results from RC drilling

The company announced that thick, shallow, high-grade mineralisation was uncovered at Jones Find, while at Imperial/Majestic, encouraging results were reported with both shallow and deep intersections continuous with existing Resources.

Jones Find

Black Cat said that the best results at Jones Find include 13m @ 4.98 g/t Au from 30m (20JFRC016);  13m @ 2.38 g/t Au from 26m (20JFRC013); 12m @ 1.41 g/t Au from 62m (20JFRC013); 5m @ 1.77 g/t Au from 23m (20JFRC010); 4m @ 1.64 g/t Au from 48m (20JFRC010); and 5m @ 1.26 g/t Au from 45m (20JFRC015).

The company said that the results show that thick, shallow, high-grade mineralisation is hosted within lithologies similar to Imperial/Majestic. BC8 said that this drilling adds confidence to the historical data and additional drilling will be undertaken along with maiden Resource estimations at Jones Find.

Imperial/Majestic

The company said that 14 RC holes at Imperial/Majestic reported new intersections including 5m @ 5.04 g/t Au from 71m (20IMRC004); 10m @ 3.36 g/t Au from 57m (20IMRC005); 3m @ 3.39 g/t Au from 103m (20IMRC008); 1m @ 14.00 g/t Au from 69m (20IMRC009);  4m @ 3.24 g/t Au from 144m (20IMRC010); 2m @ 6.21 g/t Au from 148m (20IMRC015); and 8m @ 3.55 g/t Au from 174m (20IMRC016).

Drilling at Bulong project

The company said that in July 2020, 6 diamond holes were drilled for geotechnical assessment of potential underground mining at Myhree in the Bulong project.

BC8 said that the holes were designed to provide rock property information within areas of potential stoping along with peripheral parts of the Resource.

High-grade results from Myhree

The company announced that results from the drilling at Myhree confirm expected lode widths and grades.

Highlights include 3.68m @ 9.35 g/t Au from 196.94m (20MYDD005); 2.76m @ 3.63 g/t Au from 217.65m (20MYDD005); 0.94m @ 6.96 g/t Au from 174.76m (20MYDD006); 1.19m @ 2.30 g/t Au from 177.55m (20MYDD006); 3.34m @ 9.74 g/t Au from 186.83m (20MYDD006); and 3.00m @ 3.24 g/t Au from 226.49m (20MYDD014).

Latest updates

Black Cat announced that its +60,000m drilling program is tracking well with ~14,433m drilled in the September 2020 quarter and two rigs continuing through the December 2020 quarter.

BC8 said that an RC rig is currently drilling on the following programs: Fingals Fortune: targeting Resource extension; Imperial/Majestic: setting pre-collars for deep diamond drilling; and Fingals regional: targeting satellite mineralisation at Jones Find and along the Sibu/Baguss trend.

The company said that a diamond rig is currently completing geotechnical holes for mining studies at Queen Margaret, Trump, Boundary, and Fingals Fortune. BC8 said that the diamond drilling will then recommence on the back of the pre-collars at Imperial/Majestic to test for Resources at depth.

What’s next?

The company announced the following upcoming activities for its various projects.

25 November 2020: Annual General Meeting.

December 2020 quarter: (submitted for review) release of various studies including Myhree Stage 1 and 2 open pit pre-feasibility study; Myhree underground scoping study; Trump and Boundary scoping studies; Imperial/Majestic mining study; and Fingals Fortune scoping study; continuing RC drilling (~15,000m) at Fingals, Bulong and Rowe’s Find; and release of RC drilling results from Fingals, Bulong and Rowe’s Find.

January-June 2021: ongoing drilling as part of Black Cat’s +60,000m drilling program including 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).

Management comments

Black Cat’s Managing Director Gareth Solly said: “Since acquiring Imperial/Majestic in July 2020, we have planned to test the adjacent areas where historic drilling demonstrated extensive mineralisation that had not been converted to Resource. Jones Find is one such area and these results provide even more encouragement to drill other adjacent mineralised zones.

Black Cat is targeting Resources of >1 million oz to provide genuine scale. The Resource base is currently ~884,000oz. Thick, shallow, high-grade results from our initial drilling at Jones Find and Imperial/Majestic are encouraging and demonstrate the potential to rapidly grow Resources in and around Imperial/Majestic.

Drilling at Myhree targeted deeper parts of the mineralised system in order to evaluate underground mining potential. The results further confirm the underground potential at Myhree once potential open pit mining is complete.

The latest drilling supports our aim to define 1 million ounces of Resource and have a wholly owned processing facility with at least 3 years feed ahead of it. The latest drilling will be included in our program of ongoing Resource upgrades.”