Western Australian gold explorer Black Cat Syndicate (ASX:BC8) is moving towards potential restart in mid-2023 with ongoing underground diamond drilling at the Paulsens Gold Operation in Western Australia.
Black Cat reports an updated resource will be announced in May 2023 which will incorporate recent results from the Gabbro Veins and Main Zone. Engineering and mining studies are also advancing to support a potential restart decision. The 450,000 tonnes per annum Paulsens processing plant is also currently on care and maintenance.
The company reports ongoing extensional and discovery drilling targeting the Main Quartz Zone in the upper part of the underground mine is continuing to demonstrate additional resource growth potential, with numerous mineralised veins identified over about 400m of plunge from drilling in the Main Zone.
‘Significant’ assays received include PGRD23027 with 0.65m @ 54.30g/t Au from 49.65m and 1m @ 29.50g/t Au from 107m; PGRD23025 with 1m @ 6.01g/t Au from 77m; and PGRD23026 with 0.56m @ 10.40g/t Au from 74.86m.
Additionally, the company says visible gold has been observed in 2 additional drillholes in the Main Zone, with assays pending.
Commenting on the results, Black Cat Syndicate Managing Director, Gareth Solly says: “Paulsens is a high-grade gold mine that historically averaged a resource of about 250,000 ounces during its 13-year production life, in which it produced over 900,000 ounces. This is typical for this style of underground deposit.
The Main Zone was the dominant source of that gold and these results show there is still plenty of opportunity in the upper parts of the mine. Areas of additional Main Zone mineralisation in the upper parts of the mine are expected to be part of the growing resource.
“our next resource is planned for May 2023 ahead of a restart decision in mid-2023”
This will be in addition to the Gabbro Veins, which potentially represent an entirely new mining front for Paulsens. With strong ongoing results from 2 underground rigs, our next resource is planned for May 2023 ahead of a restart decision in mid-2023.”
Black Cat reports 2 underground diamond rigs are continuing to drill readily accessible resource growth opportunities, including the Gabbro Veins, Main Zone, and numerous other near-mine targets. The company says ‘strong’ resource growth has been achieved since drilling resumed at Paulsens with the underground resource increasing by 190% in February 2023 after incorporating the results of the first 2 months of drilling.
Black Cat Syndicate is a Western Australian gold exploration company focused on its portfolio of gold projects across Western Australia. These projects are the Coyote Gold Operation near the Northern Territory border, the Paulsens Gold Operation located 180km west of Paraburdoo, and the Kal East Gold Project near Kalgoorlie.
Images: Black Cat Syndicate Ltd
