ASX ANNOUNCEMENT 28 October 2022
High-Grades Continue to Extend Kavanagh Black Cat Syndicate Limited (“Black Cat” or “the Company”) is pleased to provide an update on drilling activities at the 100% owned Coyote Gold Operation (“Coyote”) in Western Australia. HIGHLIGHTS •
Drilling has continued to identify high-grade shear-hosted quartz mineralisation within the hinge zone of the Coyote Anticline (“the Axial Core Zone”) which hosts the Kavanagh and Speedy Resources (131koz @ 10.1g/t Au).
•
Recent drilling extended mineralisation ~25m up dip from Kavanagh towards Speedy, increasing confidence that these two separate Resources may merge within this untested zone. Results from up dip of Kavanagh include:
•
o
1.20m @ 39.33g/t Au from 400.40m &
o
1.00m @ 63.70g/t Au from 410.60m (22CYDD009)
The drilling also extended mineralisation ~50m down dip from Kavanagh with results including: o
4.46m @ 7.71g/t Au from 496.84m (22CYDD007a)
•
Drilling confirms and validates Black Cat’s new geological model and extends Kavanagh both up and down dip, demonstrating the growth potential of the high-grade Resources within the Axial Core Zone.
•
Two diamond holes have also intersected quartz veining in a previously untested area east and below Kavanagh.
•
These results complement previously reported results from the Axial Core Zone, including1: o
1.00m @ 114.00g/t Au from 388m (22CYDD004)
o
1.68m @ 22.30g/t Au from 438.32m (22CYDD003a)
o
2.48m @ 10.35g/t Au from 426.38m (22CYDD001)
•
Diamond and RC drilling is ongoing, targeting the Axial Core Zone with 20 holes completed to date, all of which intersected quartz veins in interpreted positions.
•
Mineral Resource update to be completed in the current December 2022 quarter.
Figure 1: Core containing multiple specs of visible gold from hole 22CYDD009 at 411m. This interval returned 1.00m @ 63.70g/t Au from 410.69m
Black Cat’s Managing Director, Gareth Solly, said: “These results are significant as they validate our new geology model and have demonstrated the high-grade growth potential of Kavanagh and the wider Coyote Central system into areas previously considered to be less prospective. Two more diamond holes down plunge to the east of Kavanagh and an additional two RC holes completed between Kavanagh and Speedy have intersected quartz veining with assays pending. RC and diamond drilling is ongoing with additional holes testing the shrinking gap between and beyond Speedy and Kavanagh. A new Resource for Coyote Central will be completed in the current quarter and will include these significant results. We expect continued Resource growth from there with further drilling.”
BLACK CAT SYNDICATE LIMITED (ASX:BC8)
DIRECTORS
Level 3, 52 Kings Park Road, West Perth WA 6005 PO Box 184, West Perth WA 6872 T: +61 458 007 713 | E: admin@bc8.com.au W: www.blackcatsyndicate.com.au ABN 63 620 896 282
Paul Chapman Gareth Solly Les Davis Philip Crutchfield Tony Polglase
CORPORATE STRUCTURE Non-Executive Chairman Managing Director Non-Executive Director Non-Executive Director Non-Executive Director
Ordinary shares on issue: 214M Market capitalisation: A$65M (Share price A$0.305) Cash (30 June 2022): $18.2M