THE DRILL SERAGENT: Black Cat Syndicate (ASX: BC8) provided an update to the JORC 2012 Mineral Resource for the Fingals Fortune deposit within the company’s Kal East gold project in Western Australia.
Black Cat Syndicate acquired Fingals Fortune in July 2020 and has rapidly increased the deposit’s Resources, which has grown 77 per cent to the current figure of 2.6 million tonnes at 1.8 grams per tonne gold for 156,000 ounces.
The company has signalled defining of a large open pit at Fingals Fortune imperative to support mining and has increased Indicated Resources by 273 per cent to 670,000 tonnes at 1.9g/t gold for 41,000 ounces.
Black Cat’s total Resource has increased to 12.3 million tonnes at 2.3g/t gold for 905,000 ounces.
The company’s current drilling program is designed to grow Resources to one million ounces during the March 2021 quarter.
“Fingals Fortune is shaping up as a potential large pit which remains open in all directions and at depth and is a key focus for Resource growth and scale,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.
“We are also seeing the potential for underground mining to the south following a line of historic shafts that extend over 750 metres.
“Furthermore, extensional drilling is planned to test mineralised trends that extend to the north and south of Fingals Fortune.
“Another historically defined trend to the east will also be drilled.
“We have grown the Resource at Fingals Fortune by 77 per cent in less than six months.
“This growth, along with the extensive mineralised trends demonstrates the potential for the Fingals Fortune area to underpin our proposed mining operations well into the future.
“This is another positive step towards our goal of one million ounces in Resource in the March 2021 quarter and to have a wholly owned processing facility with at least three years Ore Reserves ahead of it.”
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