Identifies Open Pit Potential
Drilling results continue to build Black Cat Syndicate Limited’s (ASX:BC8) confidence in the open pit development potential of the Fingals Fortune prospect within its Kal East Gold Project in Western Australia.
Black Cat is currently undertaking a large extensional and infill drilling program at Fingals Fortune to expand and upgrade JORC 2012 Mineral Resources.
Managing Director, Gareth Solly said Fingals Fortune continues to expand laterally and at depth with the deepest mineralised intersections to date to the south. Mineralisation is open in all directions and follow up drilling is ongoing.
Intersections include: 5m @ 5.63 g/t Au from 172m; 3m @ 6.93 g/t Au from 29m;4m @ 3.89 g/t Au from 155m; and 3m @ 5.02 g/t Au from 90m.
Mr Solly said these results are significant in that they advance the potential for a much larger pit than that allowed for in the recent Scoping Study. In addition, he said they point to underground mining potential beyond the expanded pit.
“The case for a significant open pit at Fingals Fortune continues to grow. Drilling has shown that mineralisation continues to be found outside of the current Resource and in every direction. Importantly, seeing high grades at depth opens up potential for underground mining beyond the expanded open pit.
“The latest drilling supports our aim to define 1 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.
“Fingals Fortune is a key focus for the company and an updated Resource and Scoping Study remains on track for January 2021.”
Fingals Fortune is located on granted mining leases 8kms south 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 dips shallowly to the west.
