Black Cat Syndicate (ASX:BC8) has completed seven diamond drill holes totaling 4,000 meters at its 100%-owned Coyote gold operation in Western Australia's Tanami region, targeting resource infill and deeper extensions of the Axial Core Zone, according to a Friday filing with the Australian bourse.
Infill drilling returned high-grade results, including 1.46 meters at 47.05 grams per tonne of gold, one meter at 11.07 g/t gold and one meter at 10.3 g/t gold, strengthening confidence in the existing resource of 430,000 ounces grading 8.5 g/t gold, per the filing.
Two deep exploration holes intersected gold-bearing veins within an altered dolerite intrusion, returning grades of up to 1.36 grams per tonne of gold and indicating the potential for further mineralization, the filing said.
The company plans further drilling to evaluate areas above the intrusion, the filing added.
Its shares rose around 4% in recent Friday trade.
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