Posts

THE DAILY ROADHOUSE

Lithium Australia Implementing a Drive Towards Battery Energy Sustainability

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has openly declared that its corporate intentions include shoring up an ethical and sustainable supply of energy metals to the battery industry, thus enhancing energy security in the process.

Ramelius Resources Reports Further High-Grades from Symes’ Find

THE DRILL SERGEANT: Ramelius Resources (ASX: RMS) announced results from recent drilling undertaken at Symes’ Find deposit at the company’s Hampton project in Western Australia.

Breaker Resources Identifies New Gold Anomaly

THE DRILL SERGEANT: Breaker Resources (ASX: BRB) has identified a large new gold anomaly, which it claims to highlight the exploration upside at the company’s Lake Roe gold project, east of Kalgoorlie in Western Australia.

Comet Resources Scores Further High Grade Drilling Results

THE DRILL SERGEANT: Comet Resources (ASX: CRL) announced further results from recent diamond drilling conducted at the company’s Springdale graphite project near Hopetoun in southern West Australia.

Black Cat Syndicate Back Out Drilling at Bulong

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) informed the market it has resumed RC drilling has resumed at the company’s Bulong gold project in Western Australia.

 

Black Cat Syndicate Back Out Drilling at Bulong

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) informed the market it has resumed RC drilling has resumed at the company’s Bulong gold project in Western Australia.

Black Cat Syndicate said the recommenced RC drilling would now continue until mid-December 2019.

The drilling has been charged with objectives that include extensional RC drilling on the potential south-east extension of Myhree, known as the Myhree Southern Offset Target that was previously intersected returning 10 metres at 2.77 grams per tonne gold.

The program will include infill RC drilling at Myhree with the aim of converting Inferred Resource to Indicated.

Additional extensional RC drilling at the Trump North prospect will follow up and extend an earlier intersection of 4m at 13.46g/t gold and will hope to further delineate the 1,100m long Trump Corridor.

RC drilling will test historic high-grade intercepts at Anomaly 38, including 2m at 47.6g/t gold and exploration drilling at Greater Woodline will test drill ready targets the company identified by way of a recently interpreted Sub-audio Magnetic (SAM) survey, soil anomalies and historic drilling being Woodline and Fenceline.

Black Cat recently announced recent diamond drilling results from Myhree of:

19MYDD003
1.5m at 335.96g/t gold from 52.2m; and

19MYRC001
4.74m at 5.99g/t gold from 166.3m.

The company signalled additional diamond drilling will commence in November 2019 targeting core for comminution testwork along with geotechnical information around the perimeter of the potential open pit.

“The rig is back onto the potential offset position at Myhree which has significant upside potential,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“If we see more signs that Myhree continues to the south, we will look for additional rigs so that we can accelerate Resource definition work ahead of our Feasibility Study work and still drill the many other high priority targets like Anomaly 38.”

Between now and December, Black Cat aims to conduct ongoing Feasibility Study activities including geotechnical and metallurgical testwork, optical televiewer data interpretation, hydrological, hydrogeological and environmental studies and additional geotechnical and metallurgical drilling.

It will also carry out drilling of priority SAM targets in the Greater Woodline area.

The company anticipates completion of the Feasibility Study in the June 2020 quarter, at which time it hopes to be able to make a decision to mine at Myhree/Trump.

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Reports on First Myhree Holes

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) greeted the 2019 Brisbane Resources Roundup crowd with the release of results from the first diamond drilling program at the Myhree target within the company’s Bulong gold project in Western Australia.

Black Cat Syndicate designed the first three diamond drill holes into Myhree to infill the Resource and provide critical geological, geotechnical and metallurgical information on the mineralised structures.

High-grade results include:

19MYDD003
1.7 meters at 335.96 grams per tonne gold from 52.2m, including 0.5m at 1,130g/t gold from 52.9m; and
7m at 9.84g/t gold from 59.5m.

19MYDD001
4.74m at 5.99g/t gold from 166.3m; and
3.04m at 3.07g/t gold from 140.6m.

Black Cat Syndicate said the results demonstrate potential for high-grade zones within Myhree and highlight underground mining potential.

The company has commenced preparations for a December 2019 quarter drilling program, which is to include extensional RC drilling of the south-east extension of Myhree following up from an earlier intercept of 10m at 2.77g/t gold, diamond drilling, also at Myhree, for completion of final metallurgical and geotechnical studies and RC drilling for hydrogeological studies.

Other work will entail extensional drilling at the Trump North target following up on 4m at 13.46g/t gold and exploration drilling at the Greater Woodline area on multiple targets including Anomaly 38, Woodline, Fenceline and Solitaire.

“These first diamond holes into Myhree show the outstanding potential of this deposit,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“We are also about to commence RC drilling to test the Myhree Southern Offset.

“Confirmation of the offset will have important implications for the current Feasibility Study.

“Later in October the drill rig will be moving to the highly prospective Greater Woodline area to test the priority targets identified in the recently completed Sub Audio Magnetic (SAM) survey.

“This promises to be an action-packed quarter for Black Cat.”

Black Cat claimed discovery of Myhree in June 2018 and since then, up to June 2019, has established a current JORC Resource of 1.4 million tonnes at 2.7g/t gold for 119,000 ounces.

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Completes Raising to Fund Drilling

THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) received firm placement commitments from professional and sophisticated investors to raise $5 million at 43 cents per share.

Black Cat Syndicate indicated the funds will be used for drilling programs across the company’s Bulong gold project in Western Australia.

The company anticipates drilling programs to commence in October to include extensional drilling on the new Myhree Southern Offset target, extensional drilling at Trump North, infill drilling aimed at upgrading the existing Resources at Myhree, and accelerated exploration drilling of Sub-audio Magnetic (SAM) targets in the Greater Woodline area, including Anomaly 38.

The company said the Myhree Feasibility Study will continue to a potential decision to mine, expected in the June 2020 quarter.

Individual study elements include metallurgical testwork, geotechnical studies, including diamond drilling, hydrogeological studies and general permitting.

SAM surveys have been completed to the north of Boundary and to the south of Myhree and the company has interpretation and target generation in these areas underway.

New targets near and along strike of existing Resources will be prioritised for drilling.

The new funding will also allow additional SAM surveys to be completed in early 2020 to extend coverage over a larger portion of the Bulong project.

“We are pleased to have sufficient funding to continue our exploration and Resource growth activities as well as complete our ongoing Feasibility Study which will lead to a potential decision to mine in the June 2020 quarter,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The placement was priced at a five per cent discount to our closing price on 30 September 2019.

“This is a strong endorsement of the results we have achieved and the inherent value investors see in Black Cat.

“We expect to have strong news flow over the balance of 2019.”

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

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.”

 

Email: admin@blackcatsyndicate.com.au

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Hits Potential New Myhree Lode

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) claimed to intersect a potential new lode while drilling at the company’s Bulong gold project In Western Australia.

Black Cat Syndicate informed the market that recent extensional drilling at Myhree intersected a new, unmodelled zone of mineralisation under the southern part and to the east of the current Resource.

The hole ended in mineralisation returning an intercept of:

19MYRC093
10 metres at 2.77 grams per tonne gold from 190m, the hole ended in mineralisation.

The company anticipates follow up drilling of this new zone, which remains open in all directions, will occur in early October 2019.

The company’s latest round of infill drilling also intercepted strong results at the southern edge of Myhree, confirming shallow mineralisation with results including:

19MYRC088
22m at 3.21g/t gold from 1m, including 9m at 4.26g/t gold from 11m;

19MYRC090
4m at 2.55g/t gold from 12m, and 5m at 1.48 g/t gold from 46m; and

19MYRC091
2m at 3.77g/t gold from 56m, and 2m at 4.42g/t gold from 62m.

Other Resource infill drilling at Myhree returned:

19MYRC083
2m at 5.59g/t gold from 32m; and

19MYRC084
4m at 2.48g/t gold from 61m.

Black Cat also carried out drilling at the Trump prospect that intersected high-grade mineralisation, further underlining the importance of this deposit which runs parallel to Myhree.

Results include:

19TRRC028
3m at 8.32g/t gold from 66m.

Black Cat has Trump and Boundary Resource upgrades currently underway with results expected to be reported late September 2019.

Exploration RC drilling in the Greater Woodline area will commence in early October 2019.

“The discovery of a potential new lode at Myhree is an exciting emerging development for Black Cat,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The potential new lode sits below our current Resource and 100 metres below known mineralisation.

“At depth, the nearest mineralisation is 100 metres to the north with no drilling in between.

“This result fits well with current interpretations of the geology and of a fault offsetting the mineralisation.

“There is now a possibility of Myhree continuing to the south and drilling in this southern area will be fast-tracked.

“In addition, the current phase of infill drilling at Myhree is effectively complete and is consistent with expectations.

“Results at Trump are also pleasing in terms of the potential impact on Resource upgrades.

“Trump remains under drilled with numerous open targets to test in the near future.”

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Identifies New Lode at Trump North

THE DRILL SERGEANT: Black Cat Syndicate (ASX BC8) has set a cracking pace in terms of drilling activity at the company’s Bulong gold project in Western Australia.

Black Cat Syndicate released results from its recent drilling activity that included the intersection of a new Lode at the Trump North target.

The company said the intersection of the new lode at Trump North, 300 metres north of Trump, had confirmed the Trump Corridor extends over 1,100m.

Results include:

19TRRC025
4 metres at 13.46 grams per tonne gold from 50m – Trump North;

19TRRC022
5m at 2g/t gold from 72m – Trump North; and

19TRRC026
2m at 10.14g/t gold from 64m – Trump.

Other activities included extensional drilling at the Myhree and Boundary targets, which the company said had also confirmed continuous mineralisation along that particular 1,650m corridor which remains untested beyond the drilled extents.

New results include:

19MYRC080
6m at 7.58g/t gold from 268m – Myhree;

19MYRC081
3m at 2.96g/t gold from 266m – Myhree;

19BORC049
1m at 26g/t gold from 92m – SAM Target 2;

19BORC041
5m at 3.35g/t gold from 53m – Boundary; and

19BORC048
2m at 5.47g/t gold from 138m – SAM Target 1.

Black Cat indicated it now has Resource upgrades underway for both Trump and Boundary with results to be reported later in September 2019.

Additional Sub-Audio Magnetics (SAM) surveys to extend the Myhree-Boundary corridor two kilometres north and 1.5km south are underway, with field work complete and processing in progress.

Feasibility studies have commenced at the Myhree deposit with metallurgical testwork and geotechnical studies in progress.

Exploration RC drilling of targets in the Greater Woodline area will commence in early October 2019.

“We are continuing to infill and extend the known Resources at Bulong which will add to our current feasibility studies,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The deeper strike extensions at Myhree provide further confidence in the Resource that is the focus of the feasibility study.

“Using the results of SAM surveys, it is exciting to find new lodes close to our potential mining operations.

“Results at Trump North show that the western most of the three mineralised corridors continues to the north with excellent potential to add to future Resources.

“We expect the results of an additional 3.5 kilometres of SAM surveys along these corridors to also highlight additional targets.

“Following completion of a recent SAM survey, drilling of numerous high priority targets will commence at Greater Woodline in October 2019.

“Greater Woodline remains under-explored and a significant opportunity for Black Cat.”

 

Email: admin@blackcatsyndicate.com.au

Web: www.balckcatsyndicate.com.au

 

Black Cat Syndicate Gets Busy at Bulong

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has been busy at the company’s Bulong gold project in Western Australia.

Black Cat Syndicate recently completed an RC drilling program at the 100 per cent-owned Boundary project with the aim of extending mineralisation to the south of SAM Targets 1 and SAM Target 2 and to test the deeper parts of the system at Boundary and Boundary South.

Depth extension drilling to Boundary and Boundary South intercepted multiple mineralised structures with results including:

Boundary
19BORC032
16m at 2.18 grams per tonne gold from 159m; and

Boundary South
19BORC029
3m at 2.11g/t gold from 51m.

Exploration drilling on SAM Target 1 returned encouraging results, including:

19BORC028
2m at 2.13g/t gold from 59m and 2m at 2.09g/t from 66m; and

19BORC023
6m at 1.2g/t gold from 64m.

Further exploration drilling on SAM Target 2 also returned encouraging results, including:

19BORC035
3m at 3.93g/t gold from 90m.

Black Cat Syndicate expects these results will add to the current Resources when updated later this quarter.

The mineralised strike across the Myhree and Boundary deposits now totals around 1,250 metres, while the untested area between the deposits has been reduced to approximately 150m.

Black Cat indicated it plans to assess the updated Boundary Resource with the current Feasibility Study underway at Myhree and Trump, which is due for completion in the June 2020 quarter.

Other work involved geological interpretation of the SAM data collected in the Greater Woodline region that resulted in high priority drill ready targets identified, including Anomaly 38, Woodline, Fenceline and Solitaire.

“The drilling results at Boundary and the SAM Targets are encouraging and have increased the known strike of the Boundary system to 900 metres, not including SAM Target 2 which may prove to be a link to Myhree,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“The extensions at Boundary provide encouragement of a larger scale system at depth.

“Mineralisation remains open in all directions and has the potential for additional high-grade zones, similar to Myhree.

“The Myhree/Trump Feasibility Study will also incorporate Boundary mineralisation.

“In addition, we are excited about the high priority targets from the Greater Woodline SAM survey.

“Greater Woodline already contains numerous high-grade drilling intercepts spread amongst a very large soil anomaly.

“The delineated targets will be drill tested during the December 2019 half.”

 

Email: admin@blackcatsyndicate.com.au

Website: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Extends Bulong Ground Position

THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) has entered into Farm-in and Joint Venture Agreements in respect of the Balagundi project (E27/558) with Pioneer Resources (ASX: PIO).

Balagundi sits adjacent to the north-west portion of Black Cat Syndicate’s Bulong gold project in Western Australia and runs parallel to a major structural trend bounding the Balagundi and Bulong Subdomains.

The company explained the 40.6 square kilometre tenement increases the size of Bulong by around 46 per cent from 87sqkm to 128sqkm.

Balagundi currently comprises five key gold and base metal targets:

Black Widow (gold);
Funnel Web (gold);
Montana (gold);
Trap Door (gold); and
Anvil (base metals).

The Farm-in involves a minimum spend by Black Cat of $150,000 over a maximum period of two years, at which time Black Cat can withdraw.

Black Cat can earn 75 per cent by completing earning expenditure of $600,000 over five years and Pioneer would retain a 25 per cent free carried interest to completion of an approved Bankable Feasibility Study.

Black Cat is the Manager of the Joint Venture.

“Balagundi sits along a major structural trend immediately adjacent to our Bulong gold project,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“This is a strategic move by Black Cat to expand our footprint around Bulong. Balagundi has four attractive gold targets and one base metal target which will be evaluated over the next two years.

“This work can be done in conjunction with other activities planned for our existing landholdings.

“We look forward to working with the Pioneer team and to unlocking further value around our core landholding.”

Work already completed at Balagundi includes that by Pioneer and previous owners that has collected geochemical and soil data across the project.

Historic drilling has been limited to 281 RAB and AC holes and a further 20 RC holes at an average depth of 72m.

Black Cat draws similarities between Balagundi and Bulong, saying that Balagundi has seen mainly shallow drilling and remains underexplored and highly prospective.

Black Widow: is an extensive gold in soil anomaly partly drilled by Anglo/Redback in the 1990s.

Several discrete geochemical trends exist that split this area into a number of sub anomalies that trend onto Black Cat’s existing leases.

This broad target is hosted by mafic volcanic, gabbro and high magnesian basalt near the eastern margin of the Balagundi Subdomain.

Minimal historic work has been conducted in this area.

Black Widow has only been tested with first pass RAB drilling on a 400m by 100m spaced grid.

Funnel Web: is a large gold in soil anomaly generated by Acacia in the 1990s.

Drill intercepts are interpreted to contain both paleochannel and bedrock hosted gold.

Historic drilling shows bedrock mineralisation is associated with mafic rocks and the southern end of a large, interpreted magnetic alteration zone.

Previous intersections include: 2m at 6.33g/t gold from 49m, 2m at 5.34g/t gold from 42m, and 1m at 8.54g/t gold from 56m.

Montana: is an extensive gold in soil anomaly developed over the contact between high-magnesian basalt and ultramafic units on the eastern boundary of the Balagundi Subdomain.

Montana has only been tested with first pass RAB drilling on a 300m by 100m spaced grid that insufficiently tested the anomaly and warrants further work to identify the source of the gold anomalism.

Trap Door: is a discrete linear gold in auger anomaly which also contains a copper anomaly.

The gold anomalism is associated with an extensive potassic alteration zone, hosted in felsic volcaniclastic sediment and cut by a NW trending structure.

RAB drilling returned intersections of 4m at 3.2 per cent copper from 20m, and 1m at 2.2g/t gold from 10m.

RC drilling chips show copper being hosted by fine veinlets/fracture zones in the volcaniclastic.

Further work is warranted to assess the gold and copper potential in this area.

Anvil: was defined on a 400m by 100m auger grid, with results showing a discrete copper anomaly with values up to 634ppm over an approximate 1.5km of strike length.

Infill soil sampling subsequently defined a coincident copper-lead-zinc (Cu-Pb-Zn) anomaly that remains untested by drilling.

 

Email: admin@blackcatsyndicate.com.au

Website: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Drilling Boosts Myhree Confidence

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) declared increased confidence in the company’s Bulong gold project outside of Kalgoorlie in Western Australia.

Black Cat Syndicate recently completed extensional and infill drilling programs at the project’s Myhree deposit.

Results from extensional drilling at Myhree, include:

19MYRC052
7 metres at 4.24 grams per tonne gold from 187m and 4m at 5.85g/t gold from 201m;

19MYRC044
11m at 2.63g/t gold from 185m; and

19MYRC040
6m at 3.53g/t gold from 105m and 6m at 3.58g/t gold from 143m and 4m at 5.67g/t gold from 168m.

Myhree remains open at depth and extensional drilling is continuing to the north and at depth.

Results from Resource infill drilling at Myhree, include:

19MYRC043
10m at 3.82g/t gold from 113m;

19MYRC041
8m at 3.63g/t gold from 78m;

19MYRC037
3m at 8.16g/t gold from 38m; and

19MYRC039
2m at 7.96g/t gold from 122m.

Black Cat said the infill drilling increased the confidence in the existing Resource and is expected to result in an upgrade when updated in July 2019.

RC drilling has also been completed on SAM Target 1, to the south of the Boundary deposit, with results pending.

The mineralised strike over the Myhree and Boundary deposits now totals approximately 1,200m while the undrilled area between the deposits has been reduced to around 400m.

“The drilling at Myhree is now down to an average spacing of approximately 25 metres by 30 metres and continues to provide thick, high grade results,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.

“This bodes well for an upgrade of the Resource in July 2019.

“Extensional drilling at depth has also been highly successful and shows the mineralisation is consistent in terms of widths and grades in the deepest holes to date.

“In the meantime, extensional drilling is continuing at depth and to the north of Myhree.

“We continue to close the undrilled gap along this strongly mineralised corridor.”

 

Email: admin@blackcatsyndicate.com.au

Website: www.blackcatsyndicate.com.au