- Black Cat Syndicate (BC8) has announced a 67 per cent increase to the Jones Find deposit’s mineral resource estimate (MRE)
- The deposit, located within the Kal East Gold Project, now has an MRE of 1.3 million tonnes at 1.3 g/t gold for 55,000 ounces
- This takes Kal East’s total resource to 18.8 million tonnes at 2.1 g/t gold for 1.3 million ounces of gold
- The Jones Find deposit remains open along strike and at depth and the company is progressing infill and extensional drilling
- Shares in BC8 have ended the day 0.89 per cent in the red to close at 55.5 cents
Black Cat Syndicate (BC8) has increased the Jones Find deposit’s mineral resource estimate (MRE) by 67 per cent since the maiden resource estimate.
Jones Find’s inferred and indicated MRE now sits at 1.3 million tonnes at 1.3 grams per tonne (g/t) gold for 55,000 ounces.
This includes a 47 per cent upgrade of the resource to indicated category which contains 532,000 tonnes at 1.5 g/t gold for 26,000 ounces.
Jones Find is located within 1.5 kilometres of the planned 800 thousand tonnes per annum (tpa) processing facility at the Majestic Mining Centre.
Black Cat Managing Director Gareth Solly said mining studies are underway on the deposit, which also has long term strategic value as low-cost tailings storage.
“The ongoing growth of this resource is also encouraging for many other targets we have identified in the area,” he said.
“Drilling has already commenced on several of these as the likelihood of future mining is increased given the proximity of the potential milling infrastructure.”
The Jones Find resource upgrade takes the broader Kal East Gold Project’s total MRE to 18.8 million tonnes at 2.1 g/t gold for 1.3 million ounces.
Jones Find remains open along strike and at depth with both infill and extensional drilling to continue.
Shares in BC8 ended the day 0.89 per cent in the red to close at 55.5 cents.