Australian gold producer Black Cat Syndicate (ASX:BC8) has delivered ‘promising’ results from near-surface drilling outside the current resource at the Paulsens Gold Operation in Western Australia.
‘Significant’ gold results recorded includes hole 22PGRD040 with 3.07m @ 7.43g/t Au from 156.80m including 1.40m @ 12.45g/t Au from 157.80m; and 22PGRD045 with 1.83m @ 3.86g/t Au from 208.85m including 1m @ 10.60g/t Au from 28m, and 2.31m @ 2.55g/t Au from 47.43m.
“These areas remain attractive due to already installed infrastructure and their proximity to surface”
Commenting on the results, Black Cat Syndicate Managing Director Gareth Solly says: “The shallow areas of Paulsens were primarily mined pre-2010 and remain overlooked as subsequent operations focused on the main Quartz Zone. These areas remain attractive due to already installed infrastructure and their proximity to surface.
With 2 rigs now drilling from the Paulsens underground we expect strong news flow to continue ahead of the next resource update in May 2023 and a decision regarding restarting operations by mid-year.”
Black Cat reports drilling at Paulsens is targeting readily accessible near-mine growth opportunities including the Gabbro Veins, Quartz Zone, and Apollo.
The company says a second drill rig has begun at Paulsens and will provide results for an updated resource in May 2023. It also notes all results to date are based on fire assays with a photon assay trial underway.
A similar trial at Coyote showed that fire assay results were under-reporting gold grades for coarse-gold diamond core samples.
Black Cat also reports engineering and mining studies are underway to support a potential restart decision in mid-2023. The 450,000 tonnes per annum (tpa) Paulsens processing plant is currently on care and maintenance.
Black Cat Syndicate is an Australian gold producer focused on its 3 gold operations in Western Australia. These projects are the Paulsens Gold Operation located 180km west of Paraburdoo, the Coyote Gold Operation near the border with the Northern Territory, and the Kal East Gold Project near Kalgoorlie.
Images: Black Cat Syndicate Ltd
