Black Cat Syndicate extends Axial Core Zone mineralisation at depth

Drilling has confirmed Black Cat’s geological model and extended the depth extent of the Axial Core Zone at Coyote Central within its Coyote gold operations in Western Australia.

Assays from the final four holes in its 13 hole diamond drilling program testing the downdip and eastern strike of the Axial Core Zone returned results such as 0.9m grading 23.6 grams per tonne (g/t) gold from a down-hole depth of 454.6m and 3m at 5.32g/t gold from 506m.

This has extended the mineralised system 75m down-dip and 50m along strike to the east with all holes intersecting multiple mineralised quartz veins.

It follows on previous results such as 1m at 114g/t gold from 388m and 1.68m at 22.3g/t gold from 438.32m.

Significantly for Black Cat Syndicate (ASX:BC8), the drilling has also targeted and intersected a mineralised dolerite intrusion in the core of the Axial Core Zone which is broadly analogous to Newmont’s 0.4Moz Oberon deposit about 150km along strike to the east and potentially represents a new mineralised style at Coyote.

“The high-grade Coyote system gets better with every hole we drill. The well-established vein hosted gold lodes continue to extend at depth and along strike,” managing director Gareth Solly said.

“There has also been an exciting new development with the intersection of a mineralised dolerite intrusion within the Axial Core Zone which opens-up multiple new shear-hosted gold targets.

“More results are expected in December 2022 and work is ongoing to upgrade the high-grade Resource in January 2023.”

Coyote gold operations

The Coyote gold operations cover 885km2 of highly prospective ground and include existing open pit and underground workings which historically produced about 211,000oz of gold at an average grade of 4.9g/t gold.

It has been in care and maintenance since 2013 and has had no systematic exploration undertaken for about 10 years.

While previous interpretations focused on primarily on bedding-parallel mineralisation in the steeply-dipping South Limb of the Coyote Anticline, Black Cat’s interpretation is that mineralisation within the Kavanagh and Speedy resource is hosted within the Axial Core Zone.

This has the potential to host significant mineralisation, a theory that appears to have been borne out by drill results to date.

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.