Black Cat Syndicate Limited (ASX:BC8) has reported a significant increase in the JORC Mineral Resource at its Fingals Fortune, Myhree, Boundary and Trump prospects in Western Australia.
The company’s Total Resources have increased to 11.8Mt @ 2.3 g/t Au for 884,000oz.
Managing Director, Gareth Solly, said that notably, Fingals Fortune increasing by 53% to 2.1Mt @ 2.0 g/t Au for 135,000ozin only three months since its acquisition.
We have previously committed to update Resources on an ongoing basis. This Resource upgrade is all part of the drive to achieve our targets of one million ounces of Resources and a wholly owned milling facility with at least three years feed ahead of it,” Mr Solly said.
“With our 60,000m drilling programme only just started, we are confident in achieving these targets. In addition, the conversion of Resources to Indicated at Myhree will underpin the upcoming maiden Reserve.”
Fingals Fortune is contained on granted Mining Leases, having previously been mined in the early 1990’s. Striking north-north-west and generally dipping shallowly to the west, the deposit is located 45km south-east of Kalgoorlie. Historical mining extracted approximately 0.42Mt @ 2.7 g/t Au for 37,000oz from the main Fingals Fortune open pit and another 20,000oz from three nearby satellite pits.
The Resource has a strike extent of 1,320m, a width of 560m and contains multiple zones of mineralisation. The Resource is currently open along strike and at depth with multiple drill ready targets identified. These targets will be drilled as part of our 60,000m drilling program.
Only one RC drill programme (49 holes for 4,739m) has been completed by Black Cat since acquiring the project in July 2020. Resources have been added along strike of the Fingals Fortune pit in newly discovered lodes, along with extensions of existing lodes.
The focus of current mining studies, Myhree has been upgraded through drilling with 94% of potential open pit material and 58% of total Resources now classified as Indicated.
While recent drilling at Trump has led to a 17% increase in the Resource,which remains open in all directions.