Black Cat Syndicate Limited (ASX:BC8) has commenced diamond drilling at the Balagundi Cu-Zn-Pb-Au, part of the Kal East Gold Project in Western Australia.
Highlights
Balagundi (Black Cat earning up to 75% from Essential Metals Limited is prospective for both VMS-style base metals and gold deposits.
The current programme includes three diamond holes, planned to test three highly prospective targets:
o Anvil (Cu-Pb-Zn-Au) anomaly,
o Brontes (Cu) gossan, and
o Asterope (Cu) gossan.
• Drilling will test electromagnetic (“M) plate conductors with coincident copper anomalism (in soils) identified at all three targets in a Moving Loop EM (MLEM) survey conducted in September 2021.
• The drilling is co-funded by the WA Department of Mines, Industry Regulation and Safety (DMIRS) Exploration Incentive Scheme (EIS). Black Cat received this funding as part of a competitive process and acknowledges the role of DMIRS in supporting high-quality exploration in Western Australia.
• Drilling has commenced at the Brontes target. The three holes will be completed during September and results are expected in the December 2022 quarter.
“Balagundi is an overlooked historical high-grade goldfield close to Kalgoorlie and our Myhree Mining Centre,” Managing Director, Gareth Solly, said.
“We are excited to be drilling the high quality base metals and gold targets, with EIS funding support.
“The potential for a VMS-style base metal or another gold discovery on the doorstep of Kalgoorlie provides an exciting new opportunity for Black Cat, while we continue to grow our high-grade gold Resources across Coyote, Paulsens and Kal East.”
For further information please visit: https://www.blackcatsyndicate.com.au/
