Black Cat Syndicate Increases Satellite Resources at Myhree

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has updated the JORC 2012 Mineral Resource Estimate at the Boundary and Trump deposits within the company’s Bulong gold project in Western Australia.

Black Cat Syndicate has increased the Boundary Resource by 87 per cent to 0.63 million tonnes at 2.1 grams per tonne gold for 41,100 ounces, while the Trump Resource has increased 89 per cent to 0.26 million tonnes at 2.3g/t gold for 18,900 ounces.

The increases have had the knock-on effect of taking the total Resource at the Bulong gold project to 2.6 million tonnes at 2.4g/t gold for 206,000 ounces with a potential open pit Resource of 2.2 million tonnes at 2.4g/t gold for 168,000 ounces.

Black Cat Syndicate indicated the feasibility study it currently has underway will continue to assess Myhree as the base load producer and will now incorporate the Boundary and Trump Resources as potential satellite mines.

The company considers Queen Margaret/Melbourne United, Trump North and Strathfield all to demonstrate good potential as satellite mines.

Metallurgical testwork and geotechnical studies at Myhree are in progress, as is exploration drilling covering multiple targets at Greater Woodline; infill drilling at Myhree.

Extensional drilling at Trump North and at the Myhree Southern Offset Target will commence in early October 2019.

“We are pleased to show continuing growth in Resources, particularly in the immediate area of Myhree,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“Myhree is presenting as the base load producer adjacent to a number of potential satellite mines including Boundary, Trump, Trump North, Queen Margaret, Melbourne United, and Strathfield.

“Recent drilling has also shown that grades within both Trump and Boundary are better than historic drilling indicates, causing us to review the potential of a number of historic deposits.

“The current gold price environment, combined with the quality of the Bulong Resources and our location near infrastructure, provide strong impetus to move to production.

“In the meantime, we are about to embark on a very exciting phase of drilling aimed at extending the mineralisation at Myhree and Trump and exploring priority targets in the high-grade Greater Woodline area.

“Resources at Bulong will next be estimated and upgraded in the March 2020 quarter based on drilling to 31 December 2019.”