Gold project buy lifts Black Cat shares; RTG adds some cash to the kitty

Black Cat Syndicate (ASX: BC8) shares got a kick in early Friday ASX trade, rising over 8 per cent on news it has added more gold to its inventory following the acquisition of the Fingals Fortune and Rowe’s Find projects in Western Australia.

The gold explorer now has resources totalling 8.7 million tonnes at 2.6 grams per tonne (g/t) for 711,000oz of contained gold.

“We are pleased that we have converted the 2004 resources acquired to 2012 resources with no material difference identified,” managing director Gareth Solly said.

He said the company expects to make a detailed announcement on its drilling plans for its Fingals and Rowe’s Find projects in mid-July.

Cash boost

Philippines-focused gold explorer RTG Mining (ASX: RTG) has received a cash injection of $C3.35m ($3.5m) from the sale of some assets.

This includes $C2.45m from offloading its shares in Thor Explorations and $C650,000 for a royalty stream in the company.

RTG sold its Segilola gold project in Nigeria to Thor some years ago in
exchange for some shares.

In a further tidy-up, RTG has sold $C250,000 worth of shares in ASX company Vox Royalty.

RTG is progressing its Mabilo copper-gold project in the Philippines towards production.

In May, the company was granted a mining licence for the project from the Philippines Mines and Geosciences Bureau.

Some gold with your nickel and cobalt

Ardea Resources (ASX: ARL) told the market it had detected some gold within its Goongarrie nickel-cobalt project in Western Australia, which added over 7 per cent to its shares this morning.

Results from resampling at its Aphrodite North target returned grades of up to 4.46 grams per tonne (g/t) from the gold target in the Bardoc Tectonic Zone (BTZ).

The BTZ is the northern strike continuation of the Boulder Lefroy Tectonic Zone,
which hosts the Kalgoorlie-Boulder (+80 million ounces), New Celebration (3.2 million ounces) and St Ives (6.5 million ounces) gold camps.

Ardea holds some 65km of strike of the zone at its Goongarrie project, previously developed by Heron Resources and later Vale.

Managing director Andrew Penkethman said Ardea’s landholding in the world-class Eastern Goldfields gold-nickel province is host to some 100 million ounces of gold.

“Ardea thus controls a siginificant ‘greenfields’ gold portfolio in which systematic gold drill evaluation is just commencing,” he said.