THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) reported an increase to the total Resources at the company’s Kal East gold project near Kalgoorlie in Western Australia.
Black Cat Syndicate was able to do so via an update to the Majestic Mining Centre JORC 2012-compliant Mineral Resource with the inclusion of two maiden Resources from the Crown and Jones Find deposits.
The two deposits have added 95,000 ounces sitting within 1.5 kilometres of the planned 800,000 tonnes per annum processing facility at the Majestic Mining Centre.
Black Cat explained there has been no previous mining on either deposit, adding they have been converted into Resource at a combined discovery cost of less than $4 per ounce.
These new shallow Resources total 2.2 million tonnes at 1.4 grams per tonne gold for 95,000 oz and increase total Resources at the Kal East gold project to 17.5 million tonnes at 2.1g/t gold for 1.2 million ounces.
Both Resources remain open along strike and at depth with extensional drilling at Jones Find to begin this week.
Since its initial listing in January 2018, Black Cat has steadily built Resources from zero to over 1 million ounces through a combination of discovery, acquisition, and extensional drilling.
The company has achieved this at an estimated discovery cost of approx. $21/oz and an acquisition cost of $6.5/oz.
“The maiden Resources for Crown and Jones Find are within two kilometres of our planned processing facility at the Majestic Mining Centre so are high priority for our proposed mine plans,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.
“Neither deposit has seen modern mining and both are open along strike and at depth and will feature in future extension and upgrade drilling programs.
“Current drilling programs are infilling and growing the Majestic underground and Fingals open pit Resources.
“Furthermore, extensional drilling at Jones Find is commencing this week and drilling at the Crown deposit is expected in the December 2021 quarter.
“Additional discovery drilling is planned on multiple exploration targets at Kal East in 2021.”
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