Black Cat Syndicate Limited’s (ASX:BC8) maiden drilling programme at the Jones Find prospect has intersected thick, shallow zones of mineralisation with high grades within the Fingals Gold Project in Western Australia.
The company is undertaking a large RC drilling programme at Jones Find and Imperial/Majestic, both part of the Fingals Gold Project, as well as diamond drilling at Myhree at the Bulong Gold Project.
Jones Find was one of a number of areas at Fingals that contain known historical mineralisation with clear potential for JORC 2012 Mineral Resources growth. The initial programme comprised 22 holes with results including:
- 13m @ 4.98 g/t Au from 30m
- 13m @ 2.38 g/t Au from 26m
- 12m @ 1.41 g/t Au from 62m
In addition, assays for 14 RC holes from Imperial/Majestic targeting deposit extensions have been returned. These initial results are encouraging with multiple gold zones identified and a number of high-grade intersections, including:
- 5m @ 5.04 g/t Au from 71m
- 10m @ 3.36 g/t Au from 57m
- 8m @ 3.55 g/t Au from 174m
At Myhree, six diamond holes were drilled for geotechnical assessment of underground mining beneath the potential open pit. These holes intersected high-grade lodes including:
- 3.68m @ 9.35 g/t Au from 196.94m
- 3.34m @ 9.74 g/t Au from 186.83m
Managing Director Gareth Solly said Black Cat’s +60,000m drilling programme is tracking well with an RC and diamond rig currently on site at Imperial/Majestic and Fingals Fortune.
Since acquiring Imperial/Majestic in July 2020, we have planned to test the adjacent areas where historic drilling demonstrated extensive mineralisation that had not been converted to Resource,” he said.
“Jones Find is one such area and these results provide even more encouragement to drill other adjacent mineralised zones. Black Cat is targeting Resources of >1 million oz to provide genuine scale. The Resource base is currently ~884,000oz.
“Thick, shallow, high-grade results from our initial drilling at Jones Find and Imperial/Majestic are encouraging and demonstrate the potential to rapidly grow Resources in and around Imperial/Majestic.
“Drilling at Myhree targeted deeper parts of the mineralised system in order to evaluate underground mining potential. The results further confirm the underground potential at Myhree once potential open pit mining is complete.
“The latest drilling supports our aim to define one million ounces of Resource and have a wholly owned processing facility with at least three years feed ahead of it. The latest drilling will be included in our programme of ongoing Resource upgrades.”