Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — RIU Explorers Conference 2023
34 slides from Black Cat Syndicate's conference presentation, February 2023
Slide 1: Investor Presentation – RIU Explorers Conference
Investor Presentation RIU Explorers Conference February 2023
Slide 2: Disclaimer, distribution and disclosure
Disclaimer, distribution and disclosure Disclaimer and not for US distribution This presentation includes forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential m
Slide 3: Investment summary
Investment summary Two of the highest grade deposits in Australia Gold development Decision to mine at company Paulsens in 2023 Three advanced assets in +2.3Moz Resource with 401koz Western Australia strong growth Multi-operation potential Multi-commodity with portfolio optionality potential 1.29Moz
Slide 4: Simple structure, experienced team
Simple structure, experienced team Corporate Information Board of Directors Shares on issue 267M Gareth Solly • Former Senior Management roles with Norilsk Nickel, Silver Lake Options 7.0M Managing Director Resources and Saracen BSc (1st Class Hons.), Dip Business • Registered Mine Manager at Daisy
Slide 5: Operating model
Operating model • Always acting safely OUR VALUES • Maximising expenditure in the ground • Rapid Resource growth (discovery & acquisition) • Exploration orientated for future production • Focus on margins OWNERSHIP AGILITY to ensure to drive action and • Use cashflow to fund growth responsibility de
Slide 6: Asset overview
Asset overview Paulsens Coyote Kal East • Second drill rig arriving soon • New geology model • 1.3Moz Resource in an • High-grade underground • High-grade underground active mining region Resource: 258koz @ 10.8g/t Resource: 356koz @ 14.6g/t • Pre-Feasibility Study • Well maintained plant • First fi
Slide 7: Paulsens Gold Operation
1 PAULSENS GOLD OPERATION Preparing for Restart 7
Slide 8: A high quality, well maintained operation
1 PAULSENS GOLD OPERATION A high quality, well maintained operation 530km2 of highly prospective ground Well maintained 450ktpa plant Dewatered underground mine Key infrastructure and permits in place Potential for a rapid, low capital restart U/G Resource - 258koz @ 10.8g/t & growing In-mine target
Slide 9: A fast growing, high-grade gold system
1 PAULSENS GOLD OPERATION A fast growing, high-grade gold system • Resource increased by 73% to 401koz @ 3.3g/t Au • Includes a high-grade underground Resource of 258koz @ 10.8g/t (56% Measured & Indicated) close to existing workings • Resource added at a discovery cost of $27/oz and two months of d
Slide 10: Gabbro Veins – potential high-grade start-up mining area
1 PAULSENS GOLD OPERATION Gabbro Veins – potential high-grade start-up mining area • Located adjacent to, and up to 200m from, the existing decline • Occur in swarms over a 1km plunge length with bonanza grades in veins up to 4m wide • New geology model identified potential for significant Gabbro Ve
Slide 11: Apollo Extension – near surface and open
1 PAULSENS GOLD OPERATION Apollo Extension – near surface and open • Pre-2009 produced ~23koz @ 6.8g/t Au • Close to surface and decline • Limited drilling and open down plunge • Historical intersections: • 2.28m @ 28.05 g/t Au from 11.52m • 0.20m @ 128.00 g/t Au from 64.30m • 1.24m @ 35.98 g/t Au f
Slide 12: Hunting for another Paulsens
1 PAULSENS GOLD OPERATION Hunting for another Paulsens • High priority potential “Paulsens Repeat” target identified in 2018 $2M 3D seismic survey • Similar Gabbro host unit, located below the Paulsens Mine Gabbro • Lower Gabbro extends for 1,250m compared to the current 2,100m strike of the Mine Ga
Slide 13: Significant regional potential – limited previous work
1 PAULSENS GOLD OPERATION Significant regional potential – limited previous work Gold deposits form on second order splays of the Nanjilgardy Fault. Priority gold targets include Belvedere and Mt Clement For drilling results refer BC8 ASX announcement 19/4/2022 13 ASX: BC8 | February 2023
Slide 14: Belvedere
1 PAULSENS GOLD OPERATION Belvedere The beginning of another Paulsens? • 5km from Paulsens on granted mining lease • Current Resource: 30koz @ 3.9 g/t Au 6.29g/t Au • High grade gold lodes remain open: (shaft) • 4.0m @ 28.95 g/t Au & 91 g/t Ag from 69m 3.96g/t Au • 9.0m @ 12.72 g/t Au from 73m (shaf
Slide 15: Mt Clement: Large Au-Ag-Cu-Pb-Sb system
1 PAULSENS GOLD OPERATION Mt Clement: Large Au-Ag-Cu-Pb-Sb system • ~30km SW of Paulsens on granted ML • Resource: 66koz Au, 1.6tkt Cu, 13.9kt Sb, 1.5Moz Ag & 18.7kt Pb (contained metal) • Australia’s third largest antimony deposit • Open in all directions • Significant past drilling results2: • 17.
Slide 16: Paulsens plan
1 PAULSENS GOLD OPERATION Paulsens plan Paulsens LTI: Annual sustained production rate of 60,000 to 70,000oz • Resource growth targets: Gabbro Veins and Apollo • Two drill rigs operating from February • Ongoing Resource updates throughout 2023 • Restart decision mid-2023 • Target for start up: >400,
Slide 17: Coyote Gold Operation
2 COYOTE GOLD OPERATION High grade, scale potential
Slide 18: High-grade resource and untested multi-metal potential
2 COYOTE GOLD OPERATION High-grade resource and untested multi-metal potential 885km2 of highly prospective ground Open pit and underground workings to a depth of 320m below surface 300ktpa plant with ability to upgrade to 700ktpa with already owned mill Care and maintenance since 2013 No systemic e
Slide 19: One of the highest grade gold deposits in Australia
2 COYOTE GOLD OPERATION One of the highest grade gold deposits in Australia New Geology model delivering growth • Coyote Central prioritised • Focused on the previously overlooked Axial Core (“hinge”) Zone • Five months of drilling delivered a 60% increase in Coyote Central Resource: • >1,000oz / ve
Slide 20: Multi-million ounce and multi-metal regional potential
2 COYOTE GOLD OPERATION Multi-million ounce and multi-metal regional potential • Mineralisation is controlled by intersection of NW/NE faults and folded stratigraphy • Largest Tanami gold deposits occur in fold hinges (e.g., Callie - 14Moz) • Multi-kilometre scale Au and As anomalies are priority ta
Slide 21: Coyote plan
2 COYOTE GOLD OPERATION Coyote plan Long-Term Incentive (LTI): Annual sustained production rate of 40,000 to 50,000oz (at current mill size) • Start-up cost expected to be moderate: • Study to install additional mill capacity (already owned) to increase throughput and lower unit costs • Refurbish ot
Slide 22: Kal East Gold Project
3 KAL EAST GOLD PROJECT Pathway to production 22
Slide 23: Development ready with upside
3 KAL EAST GOLD PROJECT Development ready with upside ~800km2 in an active gold mining region Large 1.3Moz Resource with multi-million ounce potential Historical production of ~600koz Robust Pre-Feasibility Study completed in June 2022 A$106m pre-tax cashflow @ A$2,500/oz +$34M revenue for every A$1
Slide 24: Investment Summary
INVESTMENT SUMMARY Pathway to production 24
Slide 25: Upcoming activity schedule
Upcoming activity schedule Jan Feb Mar Apr May Jun Jul Aug 25 ASX: BC8 | February 2023
Slide 26: Investment Summary
High-grade +2.3Moz Resources growing rapidly Multi-operation potential Investment Established processing infrastructure Summary Positioned for improving gold sentiment Optionality via multi-metals Experienced team Refer BC8 Resource ASX announcements 13/2/2023 16/1/2023 and 4/3/2022 and Resource tab
Slide 27: Thank you
Thank you Level 3, 52 Kings Park Road, West Perth WA 6005 PO Box 184, West Perth WA 6872 +61 (0)458 007 713 admin@bc8.com.au ABN 63 620 896 282 www.bc8.com.au
Slide 28: Appendices
APPENDICES SYNDICATE
Slide 29: Bald Hill – shallow and open
2 COYOTE GOLD OPERATION Bald Hill – shallow and open • 30km north of Coyote processing facility • Historical pits produced 42koz @ 2.7g/t Au • Resources remain open with new lodes already discovered • Numerous pre-JORC mineralised zones on new tenements • Significant heavy REE potential north of Bal
Slide 30: Myhree – advanced toll treatment option
3 KAL EAST GOLD PROJECT Myhree – advanced toll treatment option Kal East LTI: Annual sustained production rate of 50,000 to 60,000oz • Fully permitted deposit with close-spaced grade control drilling completed within the top 50m • Select results from grade control drilling include: • 5m @ 19.63g/t A
Slide 31: Pre-Feasibility Study and Ore Reserve
3 KAL EAST GOLD PROJECT Pre-Feasibility Study and Ore Reserve • High standard PFS supports a future investment decision Key Metrics Units Study Outcomes • Completed in June 2022 quarter, at or near the peak of the Ore Reserve Gold Price A$oz 2,300 cost environment in WA Study Gold Price A$oz 2,500 •
Slide 32: Gold Resources summary
Gold Resources summary Measured Resource Indicated Resource Inferred Resource Total Resource Mining Centre Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) (‘000) (g/t Au) (‘000 oz) Kal East Myhr
Slide 33: Polymetallic Resources summary
Polymetallic Resources summary Resource Tonnes Zone Au (g/t) Cu (%) Sb (%) Ag (g/t) Pb (%) Au (koz) Cu (kt) Sb (kt) Ag (koz) Pb (kt) Category (‘000) Inferred 415 - 0.4 0.2 76.9 - * 1.6 0.7 1,026 - Western Total 415 - 0.4 0.2 76.9 - * 1.6 0.7 1,026 - Inferred 794 - - 1.7 17.0 2.4 * - 13.2 434 18.7 Ea
Slide 34: Ore Reserves – Kal East
Ore Reserves – Kal East Probable Total Deposit Tonnes (‘000s) Grade (g/t Au) Ounces Tonnes (‘000s) Grade (g/t Au) Ounces Myhree 584,500 2.4 45,600 584,500 2.4 45,600 Boundary 119,500 1.5 5,700 119,500 1.5 5,700 Open Pit Ore Reserves Jones Find 349,500 1.5 16,500 349,500 1.5 16,500 Fingals Fortune 2,