Black Cat purrs as drilling hits potential new gold lode at Bald Hill
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Black Cat has proved up its new geological model for the Bald Hill area with drilling intersecting a potential new high-grade lode at the Sandpiper deposit.
Five of the six holes drilled outside of the current resource and below the existing open pit intersected gold mineralisation including a potential offset lode that could substantially extend Sandpiper underneath the poorly tested western end of the open pit in Western Australia.
This is potentially very lucrative for Black Cat Syndicate (ASX:BC8) as it could substantially boost existing resource of 198,000oz of gold at 3.6 grams per tonne at Bald Hill, which could provide satellite feed to its Coyote Gold Operation about 30km to the south.
Notable results from the drilling include the 12m hit grading 3.64g/t gold from a down-hole depth of 137m (22SPRC0004) which intersected the potential new offset lode while hits of 2m at 5.55g/t gold from 54m and 1m at 5.26g/t gold from 70m (22SPRC0001A) along with 4m at 1.47g/t gold from 103m and 4m at 1.64g/t gold from 139m (22SPRC0001A) confirmed and extended oxide/transitional mineralisation.
Managing director Gareth Solly said that with almost 200,000oz of gold located just 30km to the north, Bald Hill represented an excellent potential feed source for the company’s Coyote processing facility.
“With our new geology models and only a handful of holes, we have immediately found a shallow potential offset lode at Sandpiper with good widths and grades,” he added.
“The Coyote region is highly prospective and remains underexplored. We see significant potential to add scale by growing high-grade resources quickly. Bald Hill is one of many exciting areas we will be drilling in 2023.”
Drilling within the main Coyote area has also returned some top shelf results.
Bald Hill with the Sandpiper (foreground) and Kookaburra (background) open pits. Pic: Supplied
Bald Hill is part of the broader Coyote Gold Operation and includes the previously mined sandpiper and Kookaburra oxide gold open pits, which historically produced 42,000oz of gold at an average grade of 2.7g/t.
Mineralisation at Bald Hill remains open with the drill results intersecting oxide/transitional mineralisation in areas which were previously thought to be closed off.
This presents an opportunity to significantly extend mineralisation directly below and along strike of the current open pit.
Further drilling and resource upgrades for the area will be carried out during 2023.
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.