Black Cat Syndicate Ltd (BC8) - ASX Release

Queen Margaret Mineralisation Extended at Depth and Along Strike

Black Cat Syndicate Limited (“Black Cat” or “the Company”) is pleased to announce an update on RC drilling and WA Government Exploration Incentive Scheme (“EIS”) co-funded diamond holes recently completed along the 6km long Queen Margaret Corridor. This Corridor hosts a number of historic mines including Queen Margaret, Melbourne United and Strathfield. Mineralisation in the Queen Margaret Corridor has consistently shown to be related to a porphyritic felsic intrusive (“QM Porphyry”) offset along strike by a series of NE and NW trending faults.

The purpose of the RC holes was to test whether the resource work at Queen Margaret can be potentially extended 400m to Melbourne United being a continuation of the Queen Margaret mineralised system, albeit in an offset position.

The purpose of the EIS diamond holes was to better understand the stratigraphic and structural controls on the high-grade gold mineralisation throughout the Corridor. Two diamond holes were drilled under Queen Margaret and one under each of Melbourne United and Strathfield. The oriented diamond core will be used to characterise the mine sequence stratigraphy. Core will also be structurally, geochemically and petrographically analysed to confirm the consistent stratigraphy along the Corridor.

Highlight Results

  • The Melbourne United RC results confirm the presence of the same high-grade narrow vein style mineralisation as at Queen Margaret. Results are consistent with previous results of 2m @ 27.11 g/t Au from 39m (92BRC100)** and 2m @ 11.01 g/t Au from 31 (18QMRC065). RC drilling results included:

    • 18MBRC004, 3m@ 13.44 g/t Au from 24m; and

    • 18MBRC005, 2m @ 17.49 g/t Au from 61m.

  • The EIS diamond drilling intersected the QM Porphyry at the predicted position up to 150m below the Queen Margaret workings. Visible gold was logged in internal quartz veins within the QM Porphyry. The Queen Margaret deposit is narrow vein and nuggety containing high-grade shoots. The presence of visible gold indicates that the high-grade system is continuous at depth. EIS diamond drilling results included:

    • 18QMDD001, 0.20m @ 21.00 g/t Au from 360.9m on HW veining; and

    • 18QMDD002, 0.79m @ 2.30 g/t Au from 440.0m on FW veining.

  • Based on these results, drilling of two deeper RC holes has commenced at Queen Margaret to test the QM Porphyry for further high-grade mineralisation along strike, at depth (see Figure 6).

Black Cat Managing Director, Gareth Solly said “The recent programs of RC and diamond drilling have demonstrated that the Queen Margaret mineralised system extends 400m to the north to Melbourne United and over 400m at depth at Queen Margaret. We are particularly pleased to see that the Queen Margaret stratigraphy continues in predictable positions below the historic workings with the presence of visible gold in quartz. This demonstrates that the mineralisation continues at depth and we have commenced deeper drilling for mineralisation along strike at Queen Margaret. Planning is also underway for a further shallow drill program at Melbourne United in early 2019”.

The information contained has been prepared by third parties. No warranty of accuracy or reliability is given in relation to any advice or information contained in this document and no responsibility for any loss or damage whatsoever arising in any way for any representation, act or omission, whether express or implied (including responsibility to any persons by reason of negligence), is given by DJ Carmichael Pty Limited or any officer, agent or employee of DJ Carmichael Pty Limited.