Black Cat Syndicate Unveils Promising Antimony Resource Upside at Mt Clement
BLACK CAT SYNDICATE LIMITED (BC8) Share Update July 2024 Monday 15th
Black Cat Syndicate Announces Significant Antimony Resource Upside at Mt Clement
Black Cat Syndicate Limited (ASX: BC8) has provided an exciting update on its recent activities at Mt Clement, part of its 100% owned Paulsens Gold Operation in Western Australia. The announcement highlights significant potential for antimony, a critical mineral, along with other valuable metals.
Instant Summary:
- Mt Clement is the 4th largest and 3rd highest grade antimony deposit in Australia.
- Current Resource: 13.2kt @ 1.7% Sb, 18.7kt Pb, 7koz Au, and 434koz Ag.
- Only 20% of the 3.7km long mineralised structures has been drilled.
- High-grade rock chips include up to 27.4% Sb and 1,165 g/t Ag.
- Deep holes show strong mineralisation at depth, including 4m @ 5.42% Sb.
Project Overview
Mt Clement, located 30km from the Paulsens processing facility, contains a polymetallic deposit rich in antimony (Sb), lead (Pb), silver (Ag), gold (Au), and copper (Cu). As the 4th largest and 3rd highest grade antimony deposit in Australia, Mt Clement presents a significant opportunity for Black Cat Syndicate.
The Eastern Zone of Mt Clement is particularly rich in antimony, with five mineralised structures covering a total strike length of approximately 3.7km. Only around 60% of the southernmost structure has been effectively drilled, containing the current Resource of 13.2kt @ 1.7% Sb, 18.7kt Pb, 7koz Au, and 434koz Ag. This structure remains open along strike and at depth.
Exploration Highlights
Based on the undrilled 40% of the southernmost structure and the four mapped and sampled northern structures, a JORC Exploration Target has been estimated. Notably, only 20% of the 3.7km long mineralised structures has been drilled, suggesting substantial upside potential.
High-grade rock chip samples outside of the current Resource include:
- 27.4% Sb, 1,165 g/t Ag, 33.6% Pb, 0.16 g/t Au
- 13.2% Sb, 142 g/t Ag, 15.7% Pb, 0.85 g/t Au
Drilling Results
Recent drilling has confirmed the strength of the southernmost structure at depth, with significant results including:
- 4m @ 2.10% Sb, 38.23 g/t Ag, 2.45% Pb, 0.06 g/t Au from 164m
- 8m @ 2.01% Sb, 6.20 g/t Ag, 2.68% Pb, 0.54 g/t Au from 212m
- 4m @ 5.42% Sb, 110.23 g/t Ag, 14.02% Pb, 1.74 g/t Au from 156m
- 4m @ 2.33% Sb, 15.83 g/t Ag, 3.08% Pb, 0.13 g/t Au from 141m
Future Potential
The potential quality and grade of the Exploration Target are conceptual in nature, with further exploration required to estimate a Resource. The JORC Exploration Target shows a range of 47-103kt @ 1.2-1.9% Sb, plus significant amounts of Pb, Ag, and Au.
Black Cat's Managing Director, Gareth Solly, emphasized the strategic importance of developing alternative sources of antimony, given the current supply is controlled by non-Western countries. With antimony prices at historically high levels, the environment is ideal for Black Cat to expand Mt Clement into a significant Western Resource.
The announcement of the significant upside potential at Mt Clement is likely to boost investor confidence in Black Cat Syndicate. The high-grade antimony findings, along with other valuable metals, could positively impact the company's stock price. The strategic importance of antimony as a critical mineral further enhances the potential market reaction.
Investor Reaction:
Investors and analysts have reacted positively to the news, highlighting the strategic importance of antimony and the potential for significant Resource growth at Mt Clement. The high-grade findings and the open nature of the deposit suggest substantial upside potential.
Conclusion:
Investors should keep a close eye on further developments at Mt Clement, as Black Cat Syndicate continues its exploration efforts. The significant upside potential and strategic importance of antimony make this an exciting opportunity. Stay informed on Black Cat Syndicate's progress and consider the potential long-term impacts on your investment portfolio.