Black Cat believes it’s starting to unlock the exploration key of its Coyote project with potential for more high-grade gold mineralisation in the current target area, Coyote Central.
An updated geological model has guided recent drilling at Coyote Central where mineralisation has already been encountered within the current a strike of 1,200m and to a vertical depth of 700m.
Drilling since July has been targeting the unmined eastern portion of Coyote Central. This area contains the Kavanagh and Speedy Resources which total 131,000oz at 10.1 grams per tonne (g/t) gold.
Recent drilling has identified shear-hosted quartz mineralisation within the hinge zone of the Coyote Anticline in an area the Company has dubbed the Axial Core Zone – now a key target for drilling between Resources and at depth.
Notable new drill results such as 1m grading 114g/t gold from 388m (22CYDD004) and 1.68m at 22.3g/t gold from 438.32m (22CYDD003a) highlight the importance of the Axial Core Zone under the revised geological model in drill targeting and greatly enhances the exploration potential at Coyote Central.
The results complement Black Cat Syndicate’s (ASX:BC8) first hole in the Axial Core Zone, which returned 2.48m at 10.35g/t gold from 426.38m and 0.8m at 17.1g/t gold from 434.4m.
Diamond drilling is ongoing with all six holes drilled to date having intersected multiple mineralised shear-hosted quartz lodes in the interpreted positions with visible gold observed in three holes.
“We are increasingly encouraged by the grade and scale potential at Coyote. Our revised geological model has highlighted the Axial Core Zone of Coyote Central as an area with significant potential to identify repeat high-grade mineralisation,” managing director Gareth Solly said.
“The results from our first four diamond holes into the Axial Core Zone at depth has again provided multiple high-grade intercepts.
“Results from the current drill programs will be used to upgrade the current Resources during the December 2022 quarter.”
New Coyote model driving growth
Coyote was acquired from Northern Star Resources in June 2022 and has a resource of 267,000oz at 10.4g/t gold based on a previous geological model focussed on the steeply-dipping South Limb of the Coyote Anticline.
Since then, drilling and ongoing review of historical data have led to a reinterpretation of the major controls on gold mineralisation.
This has guided successful drilling to grow the company’s resources and identified significant growth potential from the conceptual location of historical high-grade intercepts which remain open at depth and large scale areas of untested and undertested structural targets that could grow the current high-grade resources.
Mineralisation at Kavanagh and Speedy is now believed to be hosted within the Axial Core Zone rather than the South Limb.
Current drilling at Coyote Central is focussed on testing the Axial Core Zone including the 150m vertical gap between the Speedy and Kavanagh Resources and testing for additional shear-hosted mineralisation down dip from the Kavanagh 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.