Kal East Gold Project Continues To Grow
Black Cat Syndicate Limited’s (ASX:BC8) extensional and infill drilling at the Fingals Fortune prospect within its Kal East Gold Project in Western Australia has continued to impress.
Current drilling is designed to expand and upgrade JORC 2012 Mineral Resources and will be incorporated into a new Resource and Scoping Study in January 2021. Mineralisation continues to expand laterally in all directions and at depth. Better intersections from the latest assays include 7m @ 9.12 g/t Au from 18m (infill); 2m @ 19.20 g/t Au from 46m (extensional); 3m @ 7.14 g/t Au from 95m (extensional) and5m @ 3.70 g/t Au from 21m (extensional).
Black Cat’s Managing Director, Gareth Solly, said the results continue to advance the potential for a much larger pit than that allowed for in the November 2020 Scoping Study.
“Fingals Fortune continues to grow and clearly shows the potential for large open pit mining in the near term. The recent drilling results to the east show that the shallow mineralisation remains open with some of the better grades intercepted to date continuing well beyond the current Resource,” Mr Solly said.
“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 Ore Reserves ahead of it, with production commencing late 2021. The latest drilling will be included in our program of ongoing Resource upgrades and Scoping Studies.
“Fingals Fortune is a key focus for Black Cat being only 8km from our proposed processing facility and infill and extensional drilling will recommence in January 2021. An updated Resource and Scoping Study will be released in January 2021.”
Fingals Fortune is located on granted mining leases 8km south of Black Cat’s preferred processing facility location. The area was mined in the early 1990’s with open pit mining extracting ~420,000t @ 2.7 g/t Au for 36,500 oz from Fingals Fortune and another 20,200 oz from three nearby satellite pits. Fingals Fortune strikes north/north-west and generally dips shallowly to the west.
Fingals Fortune was acquired by Black Cat in July 2020. Post-acquisition, Black Cat’s initial phase of drilling (49 holes for 4,739m) resulted in a 53% increase of the Resource to 2.1Mt @ 2.0 g/t Au for 135,000oz. The Resource remains open along strike and at depth.
The latest results are the third batch of samples reported from the extensional and infill drilling undertaken since the first Resource upgrade. The RC rig has recently moved onto infill drilling and all data will be added to the next Resource upgrade in January 2021.
Additional extensional drilling has already been planned for January 2021 to be undertaken along with ongoing infill drilling.
