Black Cat Syndicate (ASX:BC8) reports it has received ‘highly encouraging’ results from underground diamond drilling along the Gabbro Veins at the Paulsens Gold Operation.
Since drilling started on 2 November 2022, some 14 diamond drillholes have been completed into the Gabbro Veins with assays received for the first 4 holes.
The company reports drilling into the Gabbro Veins has been ‘highly encouraging’ with all holes intersecting quartz-sulphide (pyrite+/-chalcopyrite+/-galena) veins within altered gabbro as predicted by the new geology model.
As expected, Black Cat Syndicate says multiple vein swarms were intersected and significant results included 1.92m @ 9.30g/t Au from 48.00m (22PGRD010 – reported visible gold); 0.67m @ 12.50g/t Au from 29.12m and 0.44m @ 18.10g/t Au from 60.98m (22PGRD016).
Results are based on fire assays and a photon assay trial will also be undertaken as per the recent successful photon assay trial at Coyote.
Assays from the remaining 10 holes are expected in January 2023. The first 2 holes testing the Paulsens Repeat target 200m below the underground workings have been completed.
A further 21 holes are planned for the initial 2023 Gabbro Veins program.
Black Cat’s Managing Director, Gareth Solly, says: “The first assay results from our drilling into the Gabbro Veins are highly encouraging and demonstrate the potential of these veins to host significant and readily accessible gold mineralisation adjacent to existing mine infrastructure.
“The first assay results from our drilling into the Gabbro Veins are highly encouraging”
Every hole to date has intersected multiple quartz-sulphide veins as predicted by our modelling. We will continue to test targets located close to existing infrastructure including the Gabbro Veins as well as the Apollo Extensions early in 2023.
These results will be included in a Resource update for Paulsens in the first quarter of 2023.
Furthermore, drilling to test for a Paulsens Repeat located 200m from the decline and representing a large-scale, faulted-off gabbro targeting “another Paulsens” is progressing well. The 2 holes completed to date out of the 3-hole program align with our geology model. A more comprehensive update will be provided in early 2023.”
Key pillars are in place for Black Cat to become a multi operation gold producer at its 3 100% owned operations. The operations are the Coyote Gold Operation, the Paulsens Gold Operation, and the Kal East Gold Project.
Paulsens is located 180km west of Paraburdoo in WA. Paulsens consists of an underground mine, 450,000tpa processing facility, +110 person camp, numerous potential open pits and other related infrastructure. The operation is currently on care and maintenance, has a resource of 2.7Mt @ 2.5g/t Au for 217koz and significant exploration and growth potential.
Write to Adam Orlando at Mining.com.au
Images: Black Cat Syndicate Ltd
