Mt Clement Resource Surges 95% Antimony, Silver and Lead Also Soar

Resource Expansion Highlights Mt Clement’s Potential

Black Cat Syndicate Limited (ASX: BC8) has delivered a significant boost to its Mt Clement Antimony Project with a 95% increase in contained antimony following a successful diamond drilling campaign in late 2025. The updated independent resource estimate by SRK Consulting also revealed a near tripling of contained silver and more than doubling of lead, underscoring the polymetallic nature of the deposit.

The Eastern zone resource now stands at 2.19 million tonnes grading 1.2% antimony, containing 25.8 kilotonnes of antimony, 1.2 million ounces of silver, and 39 kilotonnes of lead. These gains reflect both infill and limited extension drilling focused on the Taipan lode, the primary mineralised structure within the Eastern zone.

Strategic Location and Infrastructure Advantages

Mt Clement is situated approximately 30 kilometres from Black Cat’s Paulsens Gold Operation, offering a strategic advantage through proximity to existing processing infrastructure. The company is exploring the feasibility of a sulphide flotation circuit near Paulsens to recover antimony and associated metals, aiming to leverage established facilities to reduce capital expenditure and accelerate project delivery.

This approach aligns with Black Cat’s broader strategy to optimise regional assets and capitalise on synergies between its gold and critical minerals projects.

Critical Mineral with Growing Strategic Importance

Antimony is recognised as a critical mineral by both the Australian and United States governments, reflecting its importance in defence, clean energy, and advanced technology applications. Recent bilateral agreements and a $1.2 billion Australian Critical Minerals Strategic Reserve underscore the growing demand and supply chain focus for antimony.

Currently, China dominates global antimony supply, producing around 60%, which adds geopolitical significance to projects like Mt Clement. With antimony prices hovering around US$30,000 per tonne, Black Cat’s expanded resource positions it well to benefit from this strategic market.

Next Steps: Drilling and Economic Study

Black Cat plans to recommence drilling in March/April 2026 to both infill and extend the resource, aiming to improve confidence and potentially upgrade the resource classification. Concurrent metallurgical test work is underway to optimise antimony recoveries, building on promising historical results indicating recoveries of approximately 85% for antimony and lead.

The company targets completion of an economic study by September 2026, which will evaluate mining methods, processing options, and project economics. This study will be critical in defining the pathway to development and unlocking the full value of Mt Clement.

Balancing Opportunity with Ongoing Exploration

While the resource expansion is encouraging, the classification remains inferred, and significant exploration potential exists beyond the current resource footprint. The complex geology and multiple mineralised lodes present both challenges and opportunities for future resource growth. Environmental considerations and native title agreements are also being managed as part of the project’s advancement.

Black Cat’s Managing Director, James Bruce, emphasised the positive momentum, noting the drilling campaign’s role in enhancing understanding and preparing for the upcoming economic assessment.