THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) released an update to the Mineral Resource Estimate at the company’s Bulong gold project in Western Australia.
Black Cat Syndicate announced a 2020 update to the JORC Code 2012-compliant MRE at the Bulong project, increasing the Resource by 21 per cent to 3.5 million tonnes at 2.6 grams per tonne gold for 294,000 ounces of gold.
This increase includes maiden Resources of 0.2 million tonnes at 1.8g/t gold for 10,000 ounces at the Strathfield deposit, 0.3 million tonnes at 1.9g/t gold for 19,000 ounces at the Anomaly 38 deposit, and a 121 per cent increase at the Trump deposit, taking it to 0.6 million tonnes at 2.2g/t gold for 42,000 ounces.
Black Cat has made progress on a Feasibility Study towards commencing mining operations at the Myhree deposit, however, it does expect some impact to the timing of the study completion due to the COVID-19 situation.
The company has commenced drilling programs over multiple early stage targets, returning results to date that include:
1 metre at 20g/t gold from 24m – East of Boundary; and
1m at 13.2g/t gold from 33m – Woodline.
Reductions in future drilling are expected due to the COVID-19 situation.
“The strong growth in Resource at Bulong is driven by a substantial increase at the existing Trump deposit and the inclusion of two new deposits,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.
“This exemplifies the potential for Bulong to discover and grow multiple deposits for future mining.
“Furthermore, the annualised rate of increase in the Resource and reducing discovery cost demonstrates our increasing understanding of Bulong.
“Anomaly 38’s near surface paleochannel mineralisation is particularly interesting as it potentially provides bulk mill feed complimented by high-grade increments.
“The Myhree Feasibility Study is advancing well in what remains a strong gold price environment.
“There have been some impacts from the COVID-19 situation which we continue to manage and monitor.”