Black Cat Syndicate Limited (ASX:BC8) has unveiled updated JORC 2012 Mineral Resource at Coyote Central, part of the 100% owned Coyote Gold Operation in Western Australia.
Highlights
- The first combined Resource over Coyote Central since 2008 has seen the total Resources at the Coyote Gold Operation increase 32% from 488koz @ 5.1g/t Au to 645koz @ 5.5g/t Au. Total Indicated Resources increased 105% from 150koz @ 3.8 g/t Au to 307koz @ 5.3 g/t Au
- Black Cat’s new geological model and highly successful drilling programmes targeting the unmined Axial Core Zone have underpinned a 59% increase in the Coyote Central Resource from 267koz @ 10.4g/t Au to 424koz @ 8.8g/t Au.
- Resource averages >1,000 oz per vertical metre (OVM) to 400m below surface
- Resource extends over 1,200m strike and to 400m below surface and remains open with known mineralisation down to 700m
- New Resource added at a cost of A$28/oz, which includes the significant upgrade of Indicated Resources
- The underground Resource at Coyote Central increased to 356koz @ 14.6g/t Au (51% Indicated), making Coyote Central one of the highest-grade deposits in Australia.
- The new Coyote Central Open Pit Resource of 69koz @ 2.9g/t Au is fully constrained within an optimised pit shell and is 80% Indicated.
- Exploration drilling will be ongoing to further test the potential of this overlooked and highly prospective region.
With our new geology model and just five months of drilling, we have demonstrated that Coyote Central is one of the highest-grade underground deposits in Australia, containing 356koz @ 14.6g/t Au,” Managing Director, Gareth Solly, said.
“We have also substantially increased the total Coyote Central Resource to 424koz @ 8.8 g/t Au, with average ounces per vertical metre of >1,000 oz.
“Furthermore, the new Resource currently extends to 400m below surface even though there is known mineralisation down to 700m and remains open beyond that. We expect to further extend the Resource with additional drilling.
“It is exciting to have already demonstrated the grade and scale potential of Coyote within such a short period of time.”
Future Potential
There is a high level of prospectivity at Coyote both around existing Resources, and within the broader region. The area has not seen consistent exploration since it was owned by Anglogold Ashanti prior to operations commencing in 2006.
The Resource is open at depth, with high-grade mineralisation intersected ~300m below the current Resource.
In addition, deeper drilling has recently intersected a mineralised dolerite intrusion in the core of the Axial Core Zone, that returned anomalous gold (up to 0.66g/t Au). This result is highly encouraging and broadly similar to what is seen at Oberon deposit (0.4Moz), ~150km along strike to the east, where the margins of the dolerite intrusion are prospective areas for shear hosted gold.
For further information please visit: https://bc8.com.au/
