Black Cat Syndicate Limited (ASX:BC8) has continued its drilling success at the 100% owned Coyote Gold Operation in Western Australia.
Highlights
- RC drilling since July 2022 has targeted the unmined eastern portion of Coyote Central and particularly the shallow unmined Axial Core Zone, which hosts the Kavanagh and Speedy lodes.
- Assays have now been received for an additional 22 RC holes located in the Axial Core Zone. Intersections include:
- 3m @ 17.39g/t Au from 2m (22CYRC0019)
- 1m @ 34.50g/t Au from 4m (22CYRC0029)
- 1m @ 56.80g/t Au from 126m (22CYRC0029)
- 2m @ 16.05g/t Au from 177m (22CYRC0031A)
- 1m @ 99.50g/t Au from 86m (22CYRC0035)
- These complement the previously announced RC results in the Axial Core Zone which included: 4m @ 17.65g/t Au from 161m (22CYRC0007); and 6m @ 8.33g/t Au from 152m (22CYRC0008)
- Additionally, the shallow high-grade results (from 2.0m below surface) indicate potential paleochannel gold that has not been modelled and which historically provided low-cost, high-grade feed for processing.
Black Cat’s exploration at Coyote is only just getting started and we are increasingly encouraged with our successes to date,” Managing Director, Gareth Solly, said.
“We see significant scale and growth potential in this deposit and in the surrounding region. Our geological models are working well and that means there are numerous additional targets to test in future drilling campaigns. We are looking forward to adding all our recent high-grade results into upgraded Resource estimates during the current December 2022 quarter.”
Significant Opportunities at All Stages
- Since completing the Coyote acquisition in June 2022, Black Cat has assessed the opportunities at Coyote based on geology, maturity and risk/reward. The segments defined at Coyote are:
- Coyote Central: mineralisation identified over ~1,200m in strike and down to ~700m depth. The current Resource contains 267koz @ 10.4g/t Au and the Coyote Central produced 179koz @ 6.0g/t Au historically from underground, open pits and surface paleochannels.
- Coyote West: a 2.5km long zone of near-surface gold anomalism in a potential fault offset position from Coyote Central which appears to be plunging to the west. The area lacks systematic testing and is
considered in a prospective geologic setting.
- Coyote East: This area hosts numerous near mine opportunities and has mainly seen shallow testing that has largely been ineffective.
- Bald Hill: located 30km from the central processing facility with historical open pits producing 42koz @ 2.7g/t Au. Bald Hill remains open and has potential to increase the current open pit Resource of 198koz @ 3.6g/t Au.
- Regional: Several high priority targets including Coyote Syncline, Road Runner, Penfold and Gremlin with target ranking and exploration planning activities currently underway for 2023, after the wet season.
New Geological Model Unlocking Significant High-grade Gold Potential with Scale
- Current Resources of 488koz @ 5.1g/t Au are expected to grow and upgrade in the December 2022 quarter with ongoing updates thereafter. – Coyote Central UG
- Bald Hill OP
- Bald Hill UG
0.8Mt @ 10.4g/t Au for 267koz 1.2Mt @ 3.0g/t Au for 120koz 0.5Mt @ 4.9g/t Au for 84koz 0.4Mt @ 1.4 g/t Au for 17koz
Significant, Regional Multi-metal Potential Identified
- New geological models developed after integrating all available data.
- Regional geophysical data being reprocessed.
- Key targets include:
- Coyote Syncline: arsenic anomaly in a favourable interpreted structural setting to northwest of Coyote.
- Pebbles to Road Runner Corridor: large gold anomalies along Trans-Tanami fault structure south of Coyote, largely under post-mineralisation cover.
- Penfold: arsenic + gold anomaly in a potential structural trap east of Coyote.
- EIS funded drilling in 2020 intersected fertile Ni-Co-PGE sulphide system at Gremlin with follow-up required.
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