Black Cat expands Coyote pack with gold, base metal and REE acquisitions
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What do you do when you own the only gold processing infrastructure for 200km? … You move to consolidate all the prospective ground around it, of course.
That is exactly the strategy that Black Cat Syndicate (ASX:BC8) is employing with a number of strategic acquisitions around its Coyote Gold Operations in Western Australia.
Of particular interest is the Bald Hill tenement which surrounds the company’s existing Bald Hill deposits that have current resources of 198,000oz at an average grade of 3.6 grams per tonne (g/t) gold.
The E80/5871 tenement covers about 122.5km2 and hosts several gold prospects such as Cuckoo, Hawk, Lyrebird and Vulture-Term – all of which have historical high-grade gold intersections.
It also hosts a 1.2km long copper-lead-zinc base metals anomaly.
Black Cat also acquired the Foghorn and Gardner Dome tenements which along with Bald Hill about doubles its landholding at Coyote. These tenements are prospective for gold, base metals and rare earths.
“At Coyote we own the only processing infrastructure for 200km and these acquisitions, subject to completion, are a natural fit for Black Cat,” managing director Gareth Solly said.
“The Bald Hill acquisition contains high-grade non-JORC deposits that surround our existing Resources as well as our potential new discovery. There are also numerous anomalies containing high-grade gold that have not been followed up.
“The region also has demonstrated rare earth potential with Gardner Dome specifically covering numerous identified rare earth anomalies.”
Gold mineralisation at E80/5871 (Bald Hill) is associated with east-southeast plunging folds within the Upper Stubbins Formation, similar to mineralisation at the Bald Hill deposit.
Historical drilling returned results such as 3m at 14.03g/t gold from a down-hole depth of 21m and 1m at 15.19g/t gold from 15m at the Cuckoo target, 3m at 7.43g/t gold from 116m and 4m at 6.37g/t gold from 86m at Hawk, 1m at 11.11g/t gold from 22m at Lyrebird, and 1m at 8.76g/t gold from 32m at Vulture-Tern.
Cuckoo and Hawk also host non-JORC resources which further highlight their potential to feed into the Coyote processing facility.
Meanwhile, the untested base metals anomaly was defined by lag geochemical sampling within the Upper Stubbins Formation.
Foghorn comprises the E80/5870 and E80/5869 tenements which cover 80.5km2 within 30km of the Coyote processing facility along the Trans-Tanami Fault to the northwest.
E80/5870 is covered by post-mineralisation sediments and has seen minimal exploration though geophysical interpretation indicates that it is underlain by Paleoproterozoic granitoids intruding the Killi Killi Formation.
Given its location within the TransTanami Fault zone, this area is considered prospective for gold mineralisation like that seen at Coyote.
Additionally, recent geophysical surveys indicate E80/5869 – located within the Trans-Tanami Fault corridor – is underlain by faulted granite, which may be prospective for fault-hosted gold mineralisation.
The remaining Gardner Dome tenement (E80/5684) covers 213km2 about 84km north of the Coyote plant and is adjacent to Red Mountain Mining’s Mount Mansbridge REE project and 20km from Northern Minerals’ Browns Range REE project.
Gardner Dome contains sediments that are known to host unconformity type REE mineralisation elsewhere in the region, most notably at Mount Mansbridge and Mount Mansbridge South.
REE mineralisation potential exists at Gardner Dome with radiometric anomalies like those at Mount Mansbridge and Mount Mansbridge South.
This article was developed in collaboration with Black Cat Syndicate, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.