Black Cat Syndicate Encounters Further High-Grade Drill Results

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) updated the market on recent activities at the company’s Bulong gold project in Western Australia that include initial results for sub-audio magnetic (SAM) targets along the project’s Myhree and Boundary corridor.

Black Cat Syndicate said it had been encouraged by results from initial drilling of the its priority SAM targets between Myhree and Boundary with all targets demonstrating gold mineralisation, confirming SAM surveys as an effective tool for targeting gold at Bulong.

Exploration drilling on the SAM Target 1 returned thick, high-grade results, including:

6m at 4.67 grams per tonne gold from 60m and 9m at 2.13g/t gold from 48m; and

7m at 1.44g/t gold from 72m.

Black Cat indicated these results will be followed up with further drilling to delineate the higher-grade mineralisation at the intersection of SAM Targets 1 and 4.

Exploration drilling along SAM Target 2 intersected a mineralised structure on the geophysical target.

Results include:

3m at 1.06g/t gold from 56m; and

1m at 0.97g/t gold from 71m.

Infill and extensional drilling on the Boundary South lode continued to provide mineralised intercepts, including:

5m at 2.95g/t gold from 107m; and

4m at 1.49g/t gold from 46m.

Black Cat expects the intercepts to increase Resources and to upgrade from Inferred to Indicated when new Resources are released for Myhree in July 2019 and for other deposits during the September 2019 quarter.

RC drilling is currently underway on the northern end of Myhree.

“The drilling results on the interpreted SAM targets are extremely encouraging,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The drilling at SAM Target 1 shows that the intersection of the NS and NE structures contains thick, high-grade mineralisation.

“At SAM Target 2, we have identified a mineralised structure providing a clear vector towards potentially high-grade mineralisation.

“SAM surveys are proving to be an effective targeting tool at Bulong.

“The SAM survey over Greater Woodline is expected to be available in June 2019.

“Other SAM surveys to the north of Boundary and to the south of Myhree are planned for the September 2019 quarter.

“In the meantime, extensional drilling has already recommenced at SAM Target 3 where exceptional mineralisation was drilled during April 2019.

“We continue to close the undrilled gap along this strongly mineralised corridor.”

The mineralised strike across the Myhree and Boundary deposits now totals approximately 965 metres while the untested area between the deposits has been reduced to around 600m with priority targets between to be drilled in the next three months.