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Black Cat Syndicate Takes Kal East Resources to 1.2M Ounces

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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Identifies Balagundi JV Base Metals Targets

THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) has reached the second stage of the earn-in it has in place with Essential Metals (ASX: ESS) at the Balagundi Joint Venture, part of the Kal East gold project in Western Australia.

Recent work carried out by the JV at Balagundi has demonstrated it to be prospective for both gold and VMS style, base metal deposits.

Surface geochemical programs overlayed on structural interpretation identified new targets including:

Dingo Dam (copper-gold-zinc): a 2km long copper-gold-zinc anomaly containing historical mine shafts;

Anvil (copper-lead-zinc-gold): a discrete, approx. 1.5 kilometres long copper-lead-zinc-gold anomaly with values up to 634 ppm copper; and

Brontes and Asterope (copper): two gossans, within 500m east of Anvil.

“Balagundi has the potential to host both gold and base metal deposits and we look forward to the second stage of the farm-in with Essential Metals,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Black Cat controls a pipeline of exploration projects to fortify the longevity of the Kal East Gold Project and our systematic exploration across the tenement package is only just starting to hint at that potential.

“Balagundi is a prime example of an overlooked historical high-grade goldfield and we have identified numerous excellent geochemical targets in the area; our upcoming geophysical surveys will greatly aid in both gold and base metal targeting.

“Black Cat is rapidly moving towards production while continuing to actively explore our large and underexplored land holding.”

Black Cat entered into Farm-in and JV Agreements with Essential in July 2019 to earn 75 per cent of Balagundi by spending $600,000 on the project within five years.

The earn-in period has two stages, Stage 1 sees $150,000 of expenditure spent within the first two years, while stage 2 sees a further $450,000 spent in the next three years.

Black Cat has now completed Stage 1 of the earn-in and is proceeding with Stage 2.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Raises $20M

THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) greeted Day Two of the 2021 RIU Sydney Resources Roundup by announcing it has received firm commitments from sophisticated and professional investors in respect of a $20 million placement.

Black Cat Syndicate raised the funds at 67 cents per share and indicated these will be applied to extension and exploration drilling, mill equipment purchases, feasibility studies and other working capital for the company’s Kal East gold project in Western Australia.

The company explained the placement is an integral part of its low-capex, rapid start-up strategy for the Kal East project.

In March 2021, Black Cat acquired a 1.5 million tonnes per annum milling facility, including two ball mills and equipment required to run the facility, spending an extra $1.24 million.

“We are delighted with the support for the Placement and welcome a number of highly credentialed Australian and offshore institutional investors to the register,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“On behalf of the Board I would also like to thank our existing shareholders for their ongoing support.

“The Placement will allow the company to progress its start-up strategy, targeting first production in the second half of 2022.

“In the June 2021 quarter, we will commence the removal and relocation of our 1.5 million tonnes per annum facility.

“In May 2021, we are anticipating announcing Resource upgrades from the Fingals Mining Centre.

“Furthermore, we look forward to updating investors with results from our extensive drilling programs and ongoing Resource extensions and upgrades.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Scores Big Gold Hit at Fingals Mining Centre

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) announced enviable RC drilling results from Fingals Fortune, part of the Fingals Mining Centre, within the company’s Kal East gold project in Western Australia.

Black Cat Syndicate received assays from a further 25 holes of the 96-hole infill program that was designed to upgrade the Resource in areas of lower drill density.

Results have already demonstrated areas of high grades along the (down dip) western side of the planned Stage 1 open pit, in both potential open pit and underground positions.

The most recent results include:

21FIRC042
6 metres at 75.57 grams per tonne gold from 49m, including 3m at 142g/t gold from 50m;

21FIRC053
2m at 19.96g/t gold from 106m;

21FIRC035
3m at 8.97g/t gold from 111m;

21FIRC062
5m at 4.69g/t gold from 33m; and

21FIRC033
7m at 2.23g/t gold from 86m.

Black Cat Syndicate indicated all results will be incorporated into a Resource upgrade to be released in April 2021.

The main Fingals Fortune deposit remains open in all directions and at depth.

“The Fingals Mining Centre has the potential to contain a significant two stage open pit with an underground mine at depth plus additional nearby satellite pits,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Accordingly, it is expected that this area will be a substantial oxide feed source for our future operations.

“The Fingals Fortune deposit hosts pockets of much higher-grade material that should provide upside on mining.

“Some of the best intercepts at Fingals Fortune are in the deepest parts of the Resource which support underground mining at the conclusion of surface mining.

“Our recent milling facility acquisition and progress on sourcing the other key components of a processing facility, position Black Cat as a near-term producer.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Hits Big Gold at Fingals Fortune and gets Myhree Go-Ahead

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) continued its golden run with the announcement of recent activity at the company’s Kal East gold project in Western Australia.

Part A of the announcement was results of recent RC drilling undertaken at the Fingals Fortune deposit within the project.

Black Cat has drilled 96 infill RC holes at Fingals Fortune to date in 2021, designed to upgrade the Resource in areas of lower drill density.

Results from the first 60 holes encountered multiple high-grade zones within the Resource and at depth. The deposit remains open in all directions.

Results include:

21FIRC041
4 metres at 34.05 grams per tonne gold from 122m. The hole ended in mineralisation and is to be extended as a priority;

21FIRC048
12m at 2.99g/t gold from 61m; and

21FIRC071
3m at 8.7g/t gold from 106m.

Black Cat has interpreted the results to show strong potential for underground mining following a two-stage open pit and will be incorporated into a Resource upgrade to be released in April 2021.

Black Cat’s drilling program is progressing with approximately 62,000m drilled since July 2020.

Further to the Fingals Fortune drilling, an RC rig recently completed an exploration and extension program at the Majestic Mining Centre and is now targeting a line of historical shafts that extend for around 750m to the south of Fingals Fortune.

Black Cat also received full approval from the Department of Mines, Industry Regulation and Safety in respect of the initial planned open pits at Kal East, being Myhree Stages 1 and 2.

No further approvals are required to commence mining this deposit.

“Fingals Fortune has the potential to be a significant two stage open pit with satellite pits at Fingals East and underground mining at depth,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Additional drilling targeting high-grade extensions will be ongoing in order to grow Resources and to further increase potential mine life.

“With the recent acquisition of grinding mills and good progress in sourcing other key components of a processing facility, we are well placed to transform into a near-term producer.

“This has been reinforced by approval of the planned Myhree open pit.

“Ongoing drilling will focus on Resource and mine life extensions.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

 

Black Cat Syndicate Encouraged by Drill Results from Fingals East and Trump Deposits

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) completed a busy week of announcements by reporting on recent RC drilling at the Trump and Fingals East depoits, both part of the company’s Kal East gold project in Western Australia.

Black Cat Syndicate drilled 28 infill RC holes at Trump in February 2021, which is planned to be mined in conjunction with the Myhree deposit.

Black Cat said results have confirmed high grades around the core of Trump and will be included in the next Resource upgrade.

These include:

21TRRC018
6 metres at 11.93 grams per tonne gold from 25m;

21TRRC019
3m at 13.14g/t gold from 49m; and

21TRRC004
3m at 8.66g/t gold from 57m.

The company’s first drilling along the Fingals East was aimed at extending mineralisation beyond historically mined pits with results demonstrating potential for a maiden Resource at Fingals East.

Intercepts include:

21FERC043
3m at 14g/t gold from 78m;

21FERC024
2m at 9.59g/t gold from 72m; and

21FERC046
1m at 14.2g/t gold from 65m.

“Drilling at Trump was designed to confirm high grade mineralisation identified in previous drilling and upgrade the Resource category around the proposed open pit, which is planned to be mined in conjunction with Myhree,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The results are encouraging and Trump remains open to the north.

“Importantly, the high grades continue at depth where a lack of drilling constrains the Resource.

“Our first program at Fingals East was focused around several historical oxide pits mined in the early 1990s.

“The encouraging results support a maiden Resource which is expected in April 2021.

“Drilling is ongoing and will continue to focus on resource growth.

“With the option to purchase key components of a processing facility now exercised, we are well positioned to transform into a developer in the near term.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

 

Black Cat Syndicate Buys Milling Facility for Kal East

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has purchased a 1.5 million tonnes per annum milling facility for the company’s Kal East gold project near Kalgoorlie in Western Australia.

The processing facility, which comprises two mills, will be centrally located near the project’s Imperial/Majestic deposits.

Black Cat Syndicate explained the traditionally configured gravity and CIL gold plant is suited to the deposits as well as, potentially, any third party free milling ores in the region.

Black Cat flagged it intends to install one of the two mills initially, reserving the second for future milling capacity expansion.

“The milling facility is ideal for our planned processing facility and includes sufficient grinding capacity for potential future expansion,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Due diligence by a team of experts has confirmed that the facility was operated for less than five years, has been well maintained and is in excellent condition.

“We are currently estimating the impact this milling facility has on our construction schedule and construction cost estimates for both the initial facility as well as the potential expansion case.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

 

Black Cat Syndicate Hits Magic One Million Ounce Gold Mark

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has reached the one million ounce milestone for the Imperial/Majestic/Sovereign deposits at the company’s Kal East gold project outside Kalgoorlie in Western Australia.

Black Cat Syndicate reported an update to the JORC 2012 Mineral Resource for the combined Imperial/Majestic/Sovereign deposits that have increased 47 per cent to 5.2 million tonnes at 2.3 grams per tonne gold for 378,000 ounces of gold.

The update has taken Black Cat’s total Resource over the magic million mark to 14.3 million tonnes at 2.2g/t gold for 1.025 million ounces of gold.

The company highlighted that the Majestic underground Resource, which is one of its initial potential production centres, increased by 40 per cent, including an increase of 56 per cent in grade to 5.6g/t gold.

Black Cat has hit the one million ounce mark in quick time, moving from zero to hero since listing in January 2018, implementing a combination of discovery, acquisition and extensional drilling.

The Resource at Imperial/Majestic/Sovereign has increased by 47 per cent since Black Cat acquired the project in July 2020.

“Reaching 1 million ounces of Resource from a zero start in only three years since listing is an amazing achievement for Black Cat,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“With a strike length of 950 metres now and being open, the Imperial/Majestic/Sovereign Resource shows the potential for a high-grade, long-life underground production source for the Kal East gold project.

“Along with the Myhree open pit, Majestic sits at the front of our mine plan and the increase in grade with up to 1,500 ounces per vertical metre has the potential to improve early cashflow.

“Additionally, we have now identified multiple new targets which will be drilled in the coming months.

“With the recent option to purchase key components of a processing facility, we are well positioned to transform into a developer in the near term.”

Black Cat has established new gold targets in the Greater Majestic area including down plunge of Imperial (currently being drilled), at Sovereign and directly south of Majestic.

The company has further Resource upgrades underway at Fingals Fortune, Fingals East, Jones Find and Rowe’s Find.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Progresses Resource Infill Drilling Campaign

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) received assay results from drilling undertaken at Imperial/Majestic, part of the company’s Kal East gold project in Western Australia.

Black Cat drilled 13 diamond holes at Imperial/Majestic in late 2020 with results from the final nine holes showing multiple high-grade zones indicating strong structural continuity up to 75m below the current Resource.

The results, which will be included in the next Resource estimate, include:

20IMDD005
0.28 metres at 30.3 grams per tonne gold from 362.94m;

20IMRC010
1m at 13.4g/t gold from 294.2m and 0.29m at 12.1g/t gold from 301.67m;

20IMDD013
1m at 15.9g/t gold from 147m and 0.4m at 8.53g/t gold from 345.43m and 0.25m at 9.45g/t gold from 346m and 2.16m at 5.81g/t gold from 347.45m; and

20IMDD014
0.48m at 40.23g/t gold from 413.43m and 0.34m at 14.3g/t gold from 476.4m.

Black Cat is continuing infill drilling at Fingals Fortune, which has to date confirmed the structure and grades expected in the Resource within this large, shallow deposit.

The company has received results for 34 of 75 holes, 90 per cent of which have shown to contain mineralisation with multiple intersections in each hole.

Results will be included in a Resource update to be estimated in March 2021.

“Majestic continues to show potential for a long-life underground operation,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The new results demonstrate continuation of the primary mineralisation approximately 75 metres below the current Resource and will be used to estimate a new Resource to be announced later in March 2021.

“The infill drilling at Fingals Fortune continues to add confidence to this large, shallow Resource, which will also be updated in late March 2021.

“With the recent option to purchase the key components of a processing facility, we are well positioned to transform into a developer in the near term.

“In the meantime, drilling will be focused on Resource growth and maiden Reserve definition.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

 

Black Cat Syndicate Increases Fingals Fortune Resources in Quest for 1M Ounces

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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au