Black Cat Syndicate (ASX:BC8) Trojan and Imperial Resources increase to 286koz

Black Cat Syndicate has reported updated Mineral Resources for the Trojan and Imperial deposits as it progresses its stated strategy of supporting expanded processing capacity and extending mine life at its 100% owned Kal East Gold Operation.

The Resource update is aligned with the planned expansion of processing capacity at the Lakewood processing facility from 1.2Mtpa to 1.5Mtpa.

The company states its strategy is to fill the additional processing capacity while extending mine life.

Highlights

• Combined Trojan and Imperial Resources total 286koz.
• Trojan Resource increased 62% from 125koz to 202koz.
• The Updated Imperial Resource totals 84koz, with 81% classified as Indicated.
• Trojan and Imperial are located on 100% owned Mining Leases.
• Trojan remains open at depth and along strike.
• Imperial remains open along strike and down dip.
• Infill drilling has commenced at Trojan.
• The company states it continues increasing production from the Majestic and Fingals mines while growing the Resource base and extending mine life.

The updated Trojan Resource totals 202koz at 1.1g/t Au, compared with the previous Resource of 125koz, with the company stating the increase follows a detailed geological review that identified previously drilled but unmodelled veins on both the hanging wall and footwall, together with the halo surrounding the high grade core of mineralisation.

The announcement states the Resource remains open at depth, and infill drilling has commenced to further inform ongoing studies.

Trojan is located on Mining Lease M25/104 and previously produced 1.974Mt at 1.97g/t Au for 125,129oz between 2000 and 2004.

Black Cat acquired the project in 2020 and completed drilling in 2021 before undertaking the geological review that informed the updated Resource.

The company states that the updated Resource incorporates a high grade core with a surrounding lower grade halo that, like Fingals, it is located 50km from Lakewood.

The updated Imperial Resource totals 84koz at 1.6g/t Au, comprising open pit and underground Resources, with the company reporting that 81% of the Resource is classified as Indicated and that the deposit remains open along strike and down dip, with Imperial located on Mining Lease M25/350, approximately 40km from Lakewood.

The open pit was mined together with Majestic between 2016 and 2018, producing 1,438,901t at 2.45g/t Au for 113,393oz.

Since acquiring the project in 2020, Black Cat has focused drilling at the Majestic deposit, where underground mining has recently commenced.

The announcement also states that Imperial has drilling intercepts which pointed to cut back potential to the open pit.

Black Cat Managing Director James Bruce said:

“The substantial increase in gold mineralisation identified at Trojan and Imperial further highlights the considerable exploration upside within our 740km² Kalgoorlie tenement package, which benefits from the proximity to Lakewood. Trojan remains open at depth and along strike, with drilling now accelerating to further extend and upgrade the Resource. Across Kal East, the Company continues to increase production from the Majestic and Fingals mines while growing the Resource base and extending the mine life.”

The announcement includes updated geological interpretation and Mineral Resource estimation information for both Trojan and Imperial.

At Trojan, the updated Resource incorporates previously drilled but unmodelled veins on the hanging wall and footwall together with the halo surrounding the high grade core of mineralisation.

At Imperial, the updated Resource comprises open pit and underground Resources reported using the stated cut off grades.

Both deposits are located on 100% owned Mining Leases and remain open in the directions outlined in the announcement.

Black Cat states that the Resource updates form part of its strategy to support the planned increase in processing capacity at the Lakewood processing facility from 1.2Mtpa to 1.5Mtpa.

The company also states that drilling at Trojan is continuing to further extend and upgrade the Resource while production continues from the Majestic and Fingals mines.

—

Click here to view the latest ASX news.

Subscribe to The Day’s Play for daily ASX insights and capital markets updates.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.