THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) released a maiden JORC Code 2012-compliant Mineral Resource Estimate at the Bulong gold project in Western Australia.
Black Cat Syndicate boasted it had delivered the 1.4 million tonnes at 2.5 grams per tonne gold for 109,000 ounces of contained gold Resource just 10 months since it commenced drilling in March last year.
The Resources are located over 2.4 kilometres on the project’s Myhree–Boundary, Trump and Queen Margaret corridors, which have a combined mineralised length of 17kms.
The company outlined this represents only 14 per cent of the interpreted extent of the three corridors which remain, in its opinion, underexplored.
Black Cat has rapidly progressed Myhree from a new discovery to a high-grade Resource of 486,000 tonnes at 3.2 grams per tonne gold for 50,000 ounces in just seven months.
“We are pleased to report a maiden Resource at Bulong from only 10 months of activity,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.
“This time last year we had just completed our IPO, had one full time employee and had not started drilling.
“The maiden Resource has come about quickly and demonstrates what can be achieved when you have a great project in a great location.
“Importantly, the maiden Resource sits on only 14 per cent of the length of the three main corridors that remain open along strike and at depth.
“This is only the first step in the rediscovery of the Bulong goldfield as we continue to drill these highly prospective corridors.
“With the 2019 drilling campaign now in progress, we expect strong news flow to continue throughout 2019, including an upgrade of the Resource in the September 2019 quarter.”