Black Cat Syndicate Hits Magic One Million Ounce Gold Mark

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has reached the one million ounce milestone for the Imperial/Majestic/Sovereign deposits at the company’s Kal East gold project outside Kalgoorlie in Western Australia.

Black Cat Syndicate reported an update to the JORC 2012 Mineral Resource for the combined Imperial/Majestic/Sovereign deposits that have increased 47 per cent to 5.2 million tonnes at 2.3 grams per tonne gold for 378,000 ounces of gold.

The update has taken Black Cat’s total Resource over the magic million mark to 14.3 million tonnes at 2.2g/t gold for 1.025 million ounces of gold.

The company highlighted that the Majestic underground Resource, which is one of its initial potential production centres, increased by 40 per cent, including an increase of 56 per cent in grade to 5.6g/t gold.

Black Cat has hit the one million ounce mark in quick time, moving from zero to hero since listing in January 2018, implementing a combination of discovery, acquisition and extensional drilling.

The Resource at Imperial/Majestic/Sovereign has increased by 47 per cent since Black Cat acquired the project in July 2020.

“Reaching 1 million ounces of Resource from a zero start in only three years since listing is an amazing achievement for Black Cat,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“With a strike length of 950 metres now and being open, the Imperial/Majestic/Sovereign Resource shows the potential for a high-grade, long-life underground production source for the Kal East gold project.

“Along with the Myhree open pit, Majestic sits at the front of our mine plan and the increase in grade with up to 1,500 ounces per vertical metre has the potential to improve early cashflow.

“Additionally, we have now identified multiple new targets which will be drilled in the coming months.

“With the recent option to purchase key components of a processing facility, we are well positioned to transform into a developer in the near term.”

Black Cat has established new gold targets in the Greater Majestic area including down plunge of Imperial (currently being drilled), at Sovereign and directly south of Majestic.

The company has further Resource upgrades underway at Fingals Fortune, Fingals East, Jones Find and Rowe’s Find.