Black Cat Syndicate Extends Trojan Gold Deposit on Two Fronts With Drill Programme
Key Takeaways
- Black Cat Syndicate's 56-hole, 6,804m RC programme at the Trojan Deposit has extended gold mineralisation outside the existing 202koz @ 1.1g/t Au Resource boundary in both the northern and southeastern zones.
- The best northern intercept returned 13m @ 1.79g/t Au from 237m, with multiple holes confirming down-dip extensions to steeply-dipping lodes beyond the current Resource model.
- Southeastern extensional results — including 11m @ 1.13g/t Au from 33m — are strategically significant because this shallow oxide zone is where initial mining development at Trojan is planned.
- The current Resource stands at 202koz @ 1.1g/t Au with only 33% Indicated classification; the next drill phase targets infill conversion of Inferred to Indicated to support Life of Mine planning.
- Trojan sits 50km from the Lakewood Processing Facility, and a 62% Resource increase was already delivered in 2026 through re-modelling of historical data before this extensional programme began.
Trojan deposit expands as extensional drilling delivers results on two fronts
Black Cat Syndicate has completed a 56-hole RC drill programme at the Trojan Deposit within the Kal East Gold Operation, successfully extending mineralisation beyond the current Resource boundary in two distinct areas. The programme had two primary aims: testing for down-dip extensions to steeply-dipping lodes in the northern part of the deposit, and infilling and extending the flat-lying oxide mineralised system in the southeastern zone. Both aims were met, with mineralisation intersected outside the existing 202koz @ 1.1g/t Au Resource (established June 2026, 33% Indicated).
Significant assay results from the programme included:
Northern extensions:
- 13m @ 1.79g/t Au from 237m (26TRRC002)
- 6m @ 2.58g/t Au from 251m (26TRRC006A)
- 3m @ 6.88g/t Au from 142m (26TRRC008A)
- 7m @ 3.02g/t Au from 257m (26TRRC010A)
Southeastern extensions:
- 11m @ 1.13g/t Au from 33m (26TRRC042)
- 6m @ 1.13g/t Au from 47m (26TRRC045)
- 3m @ 1.68g/t Au from 68m (26TRRC027)
- 3m @ 1.54g/t Au from 33m (26TRRC030)
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What is extensional RC drilling and why does it matter for gold investors?
RC drilling, or Reverse Circulation drilling, is a standard exploration technique where drill cuttings are returned to surface through the centre of the drill rods, allowing geologists to collect rock samples at set depth intervals. It is faster and cheaper than diamond core drilling, making it well suited to testing large areas efficiently.
“Extensional” drilling targets ground beyond the edge of an existing Resource, with the aim of proving that mineralisation continues further than currently modelled. This is distinct from “infill” drilling, which fills gaps within an already defined Resource to increase the confidence of existing estimates.
When extensional holes return positive results, they can support a future Resource upgrade, provided sufficient drill density is subsequently achieved. Resource classifications matter here: Inferred material carries lower geological confidence and cannot underpin detailed mine planning, while Indicated material, supported by closer-spaced drilling, provides the confidence level required for Life of Mine planning and investor-grade project economics. Black Cat’s next phase of work includes infill drilling specifically targeting the conversion of Inferred to Indicated Resource at Trojan.
Trojan’s history and its role in the Kal East Gold Operation
Trojan is not a greenfield prospect. The deposit was mined between 2000 and 2004, producing 1.947Mt @ 1.97g/t Au for 125,129oz before operations ceased when the gold price fell to US$400/oz. Little work was completed in the years that followed.
Black Cat acquired Trojan in 2020 and completed a limited drill programme in 2021. Re-modelling of historical drilling in 2026 delivered a 62% Resource increase, establishing the current estimate of 202koz @ 1.1g/t Au (33% Indicated). Trojan sits 50km from the Lakewood Processing Facility, a proximity that underpins the project’s economic logic by reducing haulage costs relative to more remote deposits.
Geologically, the deposit features a thick, high-grade core surrounded by a lower-grade halo, with a series of shallow stacked oxide mineralised zones in the southeastern part of the deposit — the same area now being targeted by extensional drilling.
Chris Stone, Managing Director, Black Cat Syndicate
“We are excited that the extensional drilling has highlighted the growth potential for Trojan and look forward to continued success during the next phase of drilling. Planned infill and extensional drilling targeting the shallow southeastern lodes is also significant because this area is where the initial mining development is envisioned.”
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Next steps — infill drilling and the path to a Resource upgrade
The next phase of work at Trojan has two components. Further extensional drilling is being planned, with a focus on the shallow flat-lying oxide mineralisation in the southeastern zone. Alongside this, infill drilling is to be undertaken to convert Inferred Resource to Indicated, providing the geological confidence needed to support updated Life of Mine planning.
The strategic emphasis on the southeastern zone is worth noting. As the MD highlighted, this is the area where initial mining development is envisioned, meaning drilling success here has direct operational relevance beyond resource growth alone. The company also notes that recent results are consistent with historical drilling in these areas, supporting confidence in geological continuity.
| Programme Metric | Detail |
|---|---|
| Total holes drilled | 56 RC holes |
| Total metres drilled | 6,804m |
| Deposit Resource | 202koz @ 1.1g/t Au |
| Resource classification | 33% Indicated |
| Distance to Lakewood Processing Facility | 50km |
With mineralisation now confirmed outside the current Resource boundary on two fronts, and further drilling designed to both extend the footprint and upgrade resource confidence, Trojan’s development trajectory at Kal East is moving in a clear direction. A formal Resource upgrade has not yet been declared, but the groundwork being laid through this programme is what such upgrades are built on.
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