Black Cat Syndicate (ASX:BC8) has encountered gold grades up to 197 grams per tonne of gold through infill and extensional drilling at the Main Zone, located within the Paulsens Gold Operation in Western Australia.
The company states the ongoing drilling program represents potential early production opportunities following a restart decision expected in mid-2023.
Additionally, Black Cat is planning additional near-mine exploration activities at Paulsens in the coming months, including follow-up drilling targeting the Paulsens Repeat target, which is a 1,250m long interpreted structure, located 400m below the current mine workings.
The company is also continuing to investigate the feasibility of using downhole electromagnetic (EM) to refine future drill targeting and is currently planning a trial survey for mid-2023.
Black Cat is planning to release an updated resource in May 2023, incorporating all of the recent results from Paulsens Main Zone.
Additionally, the results from the ongoing infill and extensional drilling from the Main Zone continue to return ‘high-grade’ assays from the upper parts of the Paulsens Mine.
Commenting on the ongoing activities, Black Cat Syndicate Managing Director, Gareth Solly says: “More robust results continue to highlight the near-term mining potential located in and around the existing underground workings.
The Main Zone was the source of the majority of the +900,000oz produced to date and we are uncovering extensions to the Main Zone and more high-grade gold with every hole we drill. These promising new results will be included in the May 2023 Resource upgrade, which will form the basis for making a decision to restart the operation in the middle of 2023.”
“More robust results continue to highlight the near-term mining potential located in and around the existing underground workings”
Additionally, Black Cat reports most holes have continued to intersect multiple mineralised veins, with ‘high-grade’ nuggety gold, demonstrating that the structure is “live”.
The company says Paulsens underground is already one of Australia’s ‘highest grade’ gold deposits, with a current resource of 259,000oz @ 10.7g/t Au.
Black Cat Syndicate is an ASX-listed gold exploration company with a growing portfolio of ‘high-grade’ gold resources in the Western Australian gold regions of Eastern Goldfields, Eastern Pilbara, and the Tanami. The company’s portfolio projects include the Paulsens Gold Operation, Coyote Gold Operation, and the Kal East Gold Project.
Images: Black Cat Syndicate Ltd
