Multi-operation gold producer Black Cat Syndicate (ASX:BC8) has completed the first 3 drillholes at the Paulsens Repeat target, located within the Paulsens Gold Operation in Western Australia.
The company says Paulsens Repeat has never been previously tested, and the 3 holes drilled intersected multiple quartz-sulphide veins with ‘highly’ sheared metasedimentary rocks, suggesting the Paulsens mineralised shear zone system extends at depth.
These holes did not intersect the large seismic targets identified in the $2 million survey, which remains untested. Importantly, Black Cat says the drilling did confirm that the vein system directly down-dip from Paulsens within this ‘highly’ sheared zone is ‘live’ with mineralising fluids.
“These holes have provided important data which will help direct our next phase of drilling to test the large seismic target beneath the existing workings”
Black Cat reports assays received from the first 2 holes are ‘encouraging’ as they demonstrate ‘live’ gold. Results returned include 22PGEX001 with 0.75m @ 1.20g/t Au from 511.30m; and 22PGEX002 with 0.32m @ 1.01g/t Au from 470.72m.
Commenting on the drilling program, Black Cat Syndicate Managing Director Gareth Solly said: “Paulsens is a high-grade gold mine that produced more than 900,000 ounces at an average grade of 7.3g/t. Importantly, down-dip exploration looking for repeats beneath the controlling shear structures has never been completed.
There is strong potential for repeat-style mineralisation and our first 3 holes validate the shear has seen strong mineralising fluid flow below the existing workings, which is an important step to finding another Paulsens.
These holes have provided important data which will help direct our next phase of drilling to test the large seismic target beneath the existing workings.
We believe this systematic drilling will result in additional high-grade discoveries. Downhole EM (electromagnetic) will also be utilised in the next round of drilling which will begin by targeting the interpreted Lower Gabbro intersection with the shear. There is plenty of unfinished business here.
In the meantime, our resource upgrade activities are progressing well and with a second diamond rig arriving on site this month both discovery and near-mine resource growth drilling will accelerate.”
Black Cat reports drilling to date has identified the prospective shear zone, and that multiple steeply-dipping, altered, and weakly mineralised gabbro dykes were intersected both within and marginal to the sheared zone, which may represent relic damaged fragments of the Lower Gabbro.
The company says steeper holes are now required to intersect the ‘most prospective’ position of the interpreted Paulsens Repeat ‘high-grade’ target where the mineralised shear zone intersects the Lower Gabbro.
Black Cat reports a second phase of drilling targeting the area immediately below the first 3 holes will begin once the second underground diamond rig arrives this month.
Due to the ‘high’ sulphide content in mineralised veins, the company is also planning a downhole electromagnetic (EM) survey to assist with drill targeting as the search for more ‘high-grade’ lodes like Paulsens continues through 2023.
Black Cat Syndicate is an Australian gold producer focused on its 3 wholly-owned operations in Western Australia. These assets include the Coyote Gold Operation located on the Western Australia side of the border with the Northern Territory, the Paulsens Gold Operation near Exmouth, and the Kal East Gold Project near Kalgoorlie.
