Black Cat Syndicate (ASX:BC8) has returned new ‘large-scale’ results while assessing the gold and copper potential within its Paulsens Gold Operation in Western Australia.
The $67.67 million market capitalisation company says ‘high-grade’ copper samples from Belvedere-Tombstone have extended the footprint of surface copper and mineralisation by roughly 900m to 2.5km.
‘Significant’ sampling results include 13.57% Cu and 7.39% Cu. This second result comes from a new area.
Black Cat also reports ‘significant’ gold rock chip results from other prospect areas have returned up to 4.02g/t Au at Paulsens East, 2.67g/t Au from High Noon, and 2.79g/t Au from Goldilocks.
Commenting on the results, Black Cat Syndicate Managing Director Gareth Solly says: “Our ongoing field activities at Paulsens continue to highlight the growing gold and base metal potential in the region.
Copper and other base metal results are vectors for gold mineralisation around Paulsens, as well as targets in their own right. Mt Clement continues to show strong growth potential of precious (Au-Ag) and critical (Sb) mineral resources.
“All of these targets are within trucking distance of Paulsens, which is the only fully permitted gold processing facility within a 400km radius“
All of these targets are within trucking distance of Paulsens, which is the only fully permitted gold processing facility within a 400km radius. These opportunities highlight the longer-term potential to build a significant mining inventory at Paulsens.”
The company says targeted surface sampling is still ongoing across the Wyloo Dome prospect to identify new prospects and to further refine and extend the footprint of known prospective areas.
Of particular interest are 3 surface samples that returned more than 1% copper in an area not previously sampled for copper mineralisation. Further sampling is being planned for this area.
Black Cat’s other areas of focus include the Belvedere-Tombstone, Goldilocks, and along the Eagles’ Lair trend, where several base metal soil anomalies have been identified.
The company adds that surface reverse circulation (RC) drilling is scheduled to begin in mid-October this year along the Belvedere trend, Pantera prospect, and the near-mine Apollo extension.
Black Cat Syndicate is a Western Australian gold explorer focused on advancing to become a multi-operational producer. As of 30 June 2023, the company had $4.7 million cash at hand, according to its latest quarterly report.
On August 29, Black Cat launched an $8.3 million private share placement to help fund its exploration plans and maximise cashflow.
Write to Aaliyah Rogan at Mining.com.au
Images: Black Cat Syndicate
