Black Cat Syndicate (ASX:BC8) has extended gold mineralisation from ongoing infill and extensional diamond drilling (DD) of the Gabbro Veins within its Paulsens Gold Operation in Western Australia.
The company says its latest batch of drilling results have returned gold (Au) grades of up to 100g/t Au amid other ‘high-grade’ assays from lower parts of the mine and demonstrated the continuity and resource growth potential of the Gabbro Veins.
These results follow the definition of an updated underground resource of 322,000 ounces @ 10.1g/t Au, including 133,000 ounces @ 9.20g/t Au from the Gabbro Veins, as announced by the company on 10 May 2023.
However, Black Cat reports that these new results have not been included in the recently updated resource.
Key results include hole PGRD23041 with 1.61m @ 50.73g/t Au from 64.39m, including 0.80m @ 100g/t Au from 65.20m; hole PGRD23032 with 1.20m @ 13.30g/t Au from 47.76m and 1.80m @ 13.87g/t Au from 50.20m; and hole PGRD23034 with 1m @ 7.98g/t Au from 84m.
Underground drilling has been designed to extend the Gabbro Veins at Paulsens, infill lodes currently not in the resource, and test for new lodes.
Speaking on the results, Black Cat Syndicate Managing Director Gareth Solly says: “These latest results demonstrate the upside in the Gabbro Veins at Paulsens following the recent resource upgrade. When we acquired Paulsens in mid-2022, there was virtually no resource for the Gabbro Veins, so we are pleased with the rate of growth to 133koz at an exceptional grade of 9.2g/t Au.
“When we acquired Paulsens in mid-2022, there was virtually no resource for the Gabbro Veins, so we are pleased with the rate of growth to 133koz at an exceptional grade of 9.2g/t Au.”
The Main Zone has similarly grown to a resource of 154koz @ 10.7g/t Au. These two areas are likely to provide the bulk of the initial mineable resources in the Restart Study, which is to date progressing as expected.”
The company notes engineering and mining studies are advancing based on the resource to support a potential restart decision by mid-2023. This Restart Study is focused on the resource in the Main Zone and the Gabbro Veins and is being completed under the supervision of Mark Davies, Black Cat Syndicate’s recently appointed General Manager.
With drilling and studies still ongoing, Black Cat announces near-mine exploration drill planning for other targets, including the Paulsens Repeat, is advancing ahead of commencement scheduled in H2 2023.
Black Cat Syndicate is an ASX-listed Western Australian gold exploration company advancing to become a multi-operation gold producer. The company says its Paulsens Operation represents one of Australia’s ‘highest-grade’ gold deposits.
The project is located in the Ashburton Basin in the Eastern Pilbara region of Western Australia and is situated within the southwestern margin of the Pilbara Craton in a classic organic gold system.
Write to Adam Drought at Mining.com.au
Images: Black Cat Syndicate Ltd
