Black Cat Syndicate Limited (ASX:BC8) has taken the total JORC 2012 Mineral Resource for its Kal East Gold Project in Western Australia to over one million ounces.
The company’s total Kal East Resource now measures 14.3Mt @ 2.2 g/t Au for 1,025k oz, while the combined, Imperial/Majestic and Sovereign Resources within Kal East have increased 47% to 5.2Mt @ 2.3 g/t Au for 378k ozover a strike length of ~950m.
Importantly, the Majestic underground Resource, being one of our initial potential production centres, increased by 40% including an increase of 56% in grade to 5.6g/t Au. Ounces per vertical metre are up to 1,500oz/m in areas of better drilling density and indicates the Resource is drilling constrained at depth.
Imperial/Majestic/Sovereign are located on a granted mining lease immediately adjacent to Black Cat’s preferred processing facility location. The area was open pit mined between 2016 and 2018 for 1.4Mt @ 2.45 g/t Au for 113,393oz.
The Majestic and Imperial pits were the main producers with incremental ounces from the Majestic West pit. Mineralisation generally strikes North-South with a combined strike length of 950m and moderate to steep westerly dip.
The Sovereign deposit is a parallel lode ~350m to the east of Imperial/Majestic and shows similarities in geology and alteration to Imperial/Majestic. Given the spatial separation, a discrete Resource of 1.4Mt @ 1.4 g/t Au for 64,000oz has been defined for Sovereign which was previously included in Majestic.
Black Cat is also working on further Resource upgrades at Fingals Fortune, Fingals East, Jones Find and Rowe’s Find,
Black Cat’s Managing Director, Gareth Solly said reaching one million ounces of Resource from a zero start in only three years since listing is an amazing achievement for Black Cat.
“With a strike length of 950m 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.”
The new gold targets have been established in the Greater Majestic area including down plunge of Imperial (currently being drilled), at Sovereign and directly south of Majestic.
