THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has increased the JORC Mineral Resource for the Fingals Fortune, Myhree, Boundary and Trump deposits in Western Australia.
The Fingals Fortune Resource has been increased using limited time and drilling (49 holes for 4,739m), by 53 per cent to 2.1 million tonnes at 2 grams per tonne gold for 135,000 ounces.
Of note: near-surface mineralisation along strike of the current Fingals Fortune pit, as well as down dip extensions to the existing Resource, made up most of the increase.
The Resource remains open at depth and along strike with strong potential for additional near-term growth.
The Myhree deposit is undergoing current mining studies, and has been upgraded through drilling with 94 per cent of potential open pit material and 58 per cent of total Resources now classified as Indicated.
Recent drilling at Trump has led to a 17 per cent increase in the Resource, which remains open in all directions.
Total Resource now stands at 11.8 million tonnes at 2.3g/t gold for 884,000 ounces, of which 46 per cent is in Indicated status.
Drilling is ongoing, focussed on both Resource growth and conversion.
“We have previously committed to update Resources on an ongoing basis,” Black Cat Syndicate managing director Gareth Solly said in the company’s announcement to the Australian Securities Exchange.
“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.
“With our 60,000 metres drilling program 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.”
