Black Cat Syndicate Ltd. · ASX:BC8
Black Cat Syndicate — Investor Presentation (October 2019)
22 slides from Black Cat Syndicate's investor presentation, October 2019
Slide 1: Transitioning from Discovery to Mining
TRANSITIONING FROM DISCOVERY TO MINING ASX | BC8 October 2019
Slide 2: Disclaimer and Disclosure
Disclaimer and Disclosure Disclaimer This presentation includes forward-looking statements. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Although Black Cat Syndicate
Slide 3: Bulong Gold Project: Transitioning from Discovery to Mining
Bulong Gold Project Transitioning from Discovery to Mining • Consolidation of the Bulong Gold Field - since listing January 2018 • Ideal project with low barriers to mining - 25km east of Kalgoorlie • Extremely active - drilled +50,000m in 18 months • Resource (September 2019) - 2.6Mt @ 2.4 g/t Au f
Slide 4: The Opportunity
The Opportunity Simple Structure, Strong Support, Experienced Team Corporate Information Board of Directors and Key Management ASX Code BC8 Paul Chapman Non Executive Chairman Share Price (16 Oct 2019) $0.425 Gareth Solly Managing Director Shares on Issue 84.0M Options @ ~$0.23 17.3M Les Davis Non E
Slide 5: Bulong Gold Project: Low Barriers to Mining
Bulong Gold Project Low Barriers to Mining • Proven gold region - 25km from Kalgoorlie • Pre-WW1 mining - ~152,000 oz @ >1oz/t • Excellent infrastructure - sealed road - mains power - regional mills - workforce • Resource on mining leases October 2019 ASX | BC8 5
Slide 6: Bulong Gold Project: Good Hunting Ground
Bulong Gold Project Good Hunting Ground • Tightly held tenements • Consolidated by Black Cat - enabling systematic exploration for the first time - growing through acquisition/JV • Control of 128km2 - including granted and pending • Surrounded by major players October 2019 ASX | BC8 6
Slide 7: Bulong Rediscovered
Bulong Rediscovered Strong News Flow - Delivering Results • First effective exploration in 20 years - reinterpretation and 3D models • Active - +50,000m of drilling in 18 months - efficient <$44 per drill metre (RC and DD) • Systematic - delineation of prospective corridors - new geophysical data (S
Slide 8: Robust Resource
Robust Resource 2.6Mt @ 2.4 g/t Au for 206koz • Resources remain open along strike and at depth • 82% of Resource (168,000 oz)1 - potentially open pit minable • Majority of Resources on granted Mining Leases • Discovery cost of A$21/oz; Acquisition cost of A$5.20/oz • Explored only 25% of the three
Slide 9: Building Mine-Ready Resources
Building Mine-Ready Resources 168,000 oz in Open Pit Resource • Robust and credible Resource – Mining Plus • Optimised A$1,800 pit shells, realistic input costs • 168,000 oz at 2.4 g/t Au in potential open pit position1 • All Resources constrained by lack of drilling • Recoveries ≥ 95%, fast leach k
Slide 10: Myhree
Myhree From Discovery to Potential Development • Discovery - June 2018 • Upgraded Resource - June 2019 - 1.4Mt @ 2.7 g/t for 119,000 oz - open at depth • Thick high grade open pit mineralisation - 0.98Mt @ 3.0 g/t for 93,500 oz (main lodes) - 0.25Mt @ 1.3 g/t for 10,500 oz (FW lodes) • Infill drilli
Slide 11: Feasibility Study
Feasibility Study Advancing on Schedule • Feasibility Study assessing Myhree as baseload producer • Potential satellite mines (<2km from Myhree): - Queen Margaret - Melbourne United - Strathfield - Trump and Trump North - Boundary • Experienced Study Manager appointed • Baseline environmental studie
Slide 12: Myhree to Boundary Corridor
Myhree to Boundary Corridor Building a Larger Mining Scenario • Additional Resource potential along under-explored corridor October 2019 ASX | BC8 12
Slide 13: Interim Resources
Interim Resources…… Building Scale and Momentum • Rapid discovery and conversion of Exploration Targets • Resource updates scheduled for March and September 2020 quarters Bulong Resource Growth 600 600 500 500 400 400 '000 ounces gold 300 300 200 200 100 100 0 0 IPO Dec 18 Jun 19 Sep 19 Exploration
Slide 14: Potential to the North
Potential to the North Good Plumbing and Under Explored • D2 Faults act as excellent conduits for gold mineralisation • Balagundi (BC8 earning 75%, 25% PIO)1 - adjacent to Victory Fault (D2) - significant gold and base metal anomalies - hosted by mafic volcanics and volcaniclastic sediment - underex
Slide 15: Greater Woodline Area
Greater Woodline Area Future Resource Potential • Extensive soil anomalism • Numerous high grade historic intercepts • New SAM survey reveals numerous targets • Drilling to commence at priority targets: − Anomaly 38 o 2m @ 47.60 g/t Au from 116m** − Woodline o 12m @ 8.86 g/t Au from 66m** − Fencelin
Slide 16: Anomaly 38
Anomaly 38 High Grade and High Potential • Last drilled in 2001 by Anglo Gold − exploring for multi-million ounce open pit • SAM survey has modelled potential high grade structures • Previous drilling includes: - 2m @ 47.60 g/t Au from 116m** - 2m @ 41.66 g/t Au from 82m** - 7m @ 9.40 g/t Au from 31
Slide 17: Black Cat Syndicate (BC8)
Black Cat Syndicate (BC8) Transitioning from Discovery to Mining • Consolidation of the Bulong Gold Field - since listing January 2018 • Ideal project with low barriers to mining - 25km east of Kalgoorlie • Extremely active - drilled +50,000m in 18 months • Resource (September 2019) - 2.6Mt @ 2.4 g/
Slide 18: Connect With Us
Connect With Us 6 / 16 Nicholson Road, Subiaco WA 6008 PO Box 572, Floreat WA 6014 P | +61 (0) 458 007 713 E | admin@blackcatsyndicate.com.au Twitter / Facebook | @blackcatsyn8 ABN | 63 620 896 282 www.blackcatsyndicate.com.au October 2019 ASX | BC8 18
Slide 19: Timeline to Development
Appendices BLACK CAT SYNDICATE Resource Decision to Mine TIMELINE TO DEVELOPMENT Upgrades 206,000oz 178,000oz Maiden Resource 109,000oz Feasibility Study IPO • Ongoing Exploration Continuing • Infill Drilling Exploration • Permitting • Metallurgical Testwork • Geotechnical Analysis Initial Explorati
Slide 20: Appendices: Bulong Gold Project Mineral Resource
Appendices Bulong Gold Project Cut-Off Category Tonnes Grade Contained Oz • Robust Mineral Resource: g/t Au ‘000 g/t Au ‘000 − 2.6Mt @ 2.4 g/t Au for BOUNDARY (September 2019) 206,000 oz1 Open Pit (<90m below surface) 1.0 Indicated Inferred 124 351 2.2 1.9 9 21 Underground (>90m below surface) 2.0 I
Slide 21: Myhree Metallurgical Testwork
Appendices • Myhree Metallurgical Testwork Oxide Composite (2.60 g/t Au) 212µm 150µm 106µm 75µm Gravity Recovery (%) 35.42 34.70 34.79 34.89 Total Recovery (%) 92.85 95.33 96.29 97.26 Leach Residue (g/t) 0.18 0.12 0.10 0.07 • Grind Optimisation and Recovery results1 Transitional Composites (2.24 g/t
Slide 22: Exploration Target - Supporting Information
Appendices Exploration Target - Supporting Information CSA Global developed an Exploration Target for the Bulong Gold Project in November 2017. The potential quantity and grade of the Exploration Target was conceptual in nature, as there had been insufficient exploration to estimate a Mineral Resour
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