Black Cat Syndicate (ASX:BC8) has uncovered what it believes to be a lookalike of the Belvedere prospect within the new Grey Goose prospect, as part of its wholly owned Paulsens Gold Operation in Western Australia.
The $59.66 million market capitalisation company says 8 reverse circulation (RC) holes, of a total 45, drilled 500m along strike to the north of Belvedere in 2023 have flagged multiple quartz lodes, similar to that seen in the original 2009 results from Belvedere.
In light of this, further interpretation and drilling will be undertaken at Grey Goose.
Belvedere is a ‘high-grade’ nuggety gold system on a 2.5km long fault structure. Recent exploration drilling along 900m of the Belvedere Fault intersected multiple mineralised quartz lode structures.
Assays from the Belvedere, Eastern Zone, Apollo, and Pantera prospects demonstrate quartz veining 75m down plunge of the current Belvedere resource at Apollo, proving potential for resource growth.
Drilling at Apollo also intersected multiple quartz lodes up and down dip and along strike from known mineralisation, with ‘significant’ results from outside the current Apollo resource up to 47.3 grams per tonne (g/t) gold.
Managing Director Gareth Solly says: “We are highly encouraged with the new Grey Goose prospect, which is shaping up as a Belvedere lookalike when compared at a similar stage.
We have also confirmed other gold mineralisation along 900m of the Belvedere Fault and 75m below the current Belvedere resource. So, there is plenty to go on with at Belvedere. We also identified potential up/down-dip extensions to Apollo which provide immediate promise when mining commences.”
The company also announces Topdrill has been welcomed as an investor after the drilling contractor agreed to undertake the recent RC drilling program, with payment terms including 50% of the drilling cost paid in ordinary shares.
Topdrill completed the drilling program at Paulsens with zero safety or environmental incidents and ahead of schedule.
Black Cat will issue Topdrill a total of just over 1.495 million shares amounting to about $300,000.
Black Cat Syndicate is a gold-focused explorer that is advancing to become a multi-operation Western Australian gold producer. The company’s assets comprise 3,485km-square of ‘highly prospective’ tenements.
The company’s Paulsens Gold Operation lies in the Ashburton Basin in the Eastern Pilbara region of Western Australia.
Write to Adam Drought at Mining.com.au
Images: Black Cat Syndicate
