The Axial Core Zone within Black Cat’s Coyote gold operations in Western Australia is proving to be rich in gold with drilling continuing to return high-grade results.
Assays from a further 22 reverse circulation drill holes returned bonanza results such as 1m grading 99.5 grams per tonne (g/t) gold from a down-hole depth of 86m (22CYRC0035), 3m at 17.39g/t gold from 2m (22CYRC0019), and 1m at 56.8g/t gold from 126m (22CYRC0029).
It follows on previous results such as 9m at 19.22g/t gold from 172m (22CYRC0009) and 3m at 29.43g/t gold from 82m (22CYRC0002).
The results also provide an intriguing new development for Black Cat Syndicate (ASX:BC8) to consider – that the shallow high-grade results could represent paleochannel gold which has not been modelled and has historically provided low-cost, high-grade feed. This could give the company with a quick source of feed and cashflow for any potential restart of the project’s existing mill.
RC drilling is ongoing, now targeting an untested area between the Kavanagh and Speedy deposits, which have existing resources totalling 131,000oz at 10.1g/t gold.
“Black Cat’s exploration at Coyote is only just getting started and we are increasingly encouraged with our successes to date,” managing director Gareth Solly said.
“We see significant scale and growth potential in this deposit and in the surrounding region. Our geological models are working well and that means there are numerous additional targets to test in future drilling campaigns.
“We are looking forward to adding all our recent high-grade results into upgraded Resource estimates during the current December 2022 quarter.”
Coyote Central drilling
Coyote Central has a strike length of about 1,200m with gold mineralisation identified to a depth of about 700m below surface in historical drilling.
Open pit and underground workings to a depth of 320m below surface have produced a total of 179,000oz of gold at an average grade of 6g/t.
Resources are currently estimated at 267,000oz at 10.4g/t gold though the drill results to date make it likely that this will be upgraded.
Drilling is currently focused on the unmined eastern portion of Coyote Central which hosts the prospective Axial Core Zone.
This work has provided encouragement that additional lodes will be discovered within the Axial Core Zone below the Speedy resource.
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.