ASX-listed gold explorer Black Cat Syndicate (ASX:BC8) has flagged the ‘significant’ growth potential of its Paulsens Gold Operation in Western Australia through ongoing near-mine exploration drilling.
The company reports that the ongoing drilling is testing resource extension and geophysical targets, including follow-up drilling targeting the Paulsens Repeat — a 1,250m-long interpreted structure located between 200m and 300m below the current mine workings.
Black Cat is also conducting further extensional drilling for additional Gabbro Veins mineralisation further into the Paulsens Mine Gabbro, along with extensional drilling of Gabbro Veins uncovered along-plunge.
Meanwhile, Black Cat is working to test the Paulsens offset target on the other side of the post-mineralisation fault at the bottom of the current workings and test along strike and up dip extensions of the Apollo Lode to the north of the main Paulsens underground workings.
The company says it will make a decision mid-year on restarting Paulsens operations, with an anticipated short ramp-up time to first gold being poured.
Black Cat’s decision to go forth with ongoing exploration follows a 25% increase to the Paulsen’s ‘high-grade’ resource to 332,000 ounces @ 10.1g/t Au, including an increase of 58% to measured and indicated resources.
Commenting on exploration and the mineral resource increase, Black Cat Syndicate Managing Director Gareth Solly says: “The continued resource growth at Paulsens demonstrates the significant value still in the ground at this operation, and we see more upside to come.
Paulsens produced over 900,000 ounces at a mined grade of 7.3g/t Au in the first 13 years of operations. During its operating life, the resource has averaged around 270,000 ounces, which is the critical mass we have now firmly established in 6 months of drilling.
The significant resource growth we have achieved, coupled with the extensive surface and underground infrastructure, has delivered on the exciting opportunity we identified at Paulsens.”
Black Cat states the Paulsens resource is more than 360% higher than when it was first acquired by the company in June 2022.
Since then, the company has primarily focused on growing its ‘high-quality’ near mine resources. This includes developing and refining the updated geology mode, remodelling areas of historic drilling, and drilling for resource extensions.
The Paulsens Gold Operation is a ‘large-scale’ underexplored area of more than 1,000km-square of highly prospective ground and is wholly owned by Black Cat. The operation has multi-metal potential with numerous base metal targets.
Black Cat Syndicate is a fast growing Western Australian exploration company focused on its ‘high-grade’ portfolio in the Eastern Goldfields, Eastern Pilbara, and the Tanami regions. The company’s portfolio of assets include the Paulsens Gold Operation, Coyote Gold Operation, and the Kal East Gold Project.
Images: Black Cat Syndicate Ltd
