Black Cat Syndicate (ASX:BC8) reports it has found visible gold in the first holes drilled into gabbro veins at the Paulsens Gold Operation, located in Western Australia.
The company says drilling at Paulsens commenced on 2 November targeting readily available, near-mine growth opportunities at the Gabbro Veins and Apollo Extension targets.
Black Cat has completed the first 6 drillholes into the Gabbro Veins immediately adjacent to the decline and to the south of the current workings, and states this drilling is looking to add near-mine resources to provide mining restart sources, and all 6 holes intersected wide quartz vein mineralisation in the interpreted positions, with assays expected in December 2022.
The company reports drillhole 22PGRD010 which was drilled on an infill target adjacent to existing workings intersected multiple quartz veins within gabbro including one vein with visible gold at a depth of around 49m, while 22PGRD012 drilled below 22PGRD010 also intersected multiple quartz veins including visible gold at around depths of 3m, 5m and 24.5m.
22PGRD019 drilled an interpreted Gabbro Vein to the south of the existing mine workings and intersected multiple quartz veins in the interpreted positions, and visible gold was logged at a depth of 115m.
Black cat Managing Director Gareth Solly said the company’s first holes at Paulsens are targeting potential production areas adjacent to existing workings.
“The Gabbro Veins are an overlooked opportunity that we believe have the potential to lead a restart scenario while we undertake the hunt for another Paulsens in both offset and repeat target positions.
“Drilling will be ongoing at Paulsens to delineate near-term mining opportunities throughout the December 2022 quarter”
We are excited by what we see in these first holes given they intersect our interpreted structures and contain visible gold. Drilling will be ongoing at Paulsens to delineate near-term mining opportunities throughout the December 2022 quarter.”
Black Cat reports drilling will continue infilling the Gabbro Veins over an approximate 600m strike area before moving to the first holes into the Paulsens Repeat target later this month.
The company has also seen a jump in its share price on the ASX, rising 10.156% to $0.352 as of 12noon AWST.
In 2018, a 3D seismic survey was completed at Paulsens that identified a reflective feature around 200m below the Paulsens Mine Gabbro and subsequent diamond drilling confirmed that this reflector was a second sill, and recent reprocessing of the seismic data has refined the interpreted location of the intersection between the Lower Gabbro and the Hardey Fault Zone, which is a similar structural setting that hosts the Paulsens main zone of mineralisation.
The company states the interpreted target zone has a strike length of around 1,250m and has not been drilled, and given the structural similarities between this target zone and the Paulsens deposit, this target is considered prospective to host a similar style of mineralisation and is a priority for the current program.
Black Cat has identified 3 potential structures that show the potential for a ‘Paulsens Repeat’ including the Paulsens Mine Gabbro and the sub-parallel Lower Gabbro, as well as the interpreted fault zone cutting through both gabbros and the interpreted prospective zone along the fault.
Black Cat Syndicate is a Western Australia-based gold producer that holds the Coyote Gold Operation, the Paulsens Gold Operation and the Kal East Gold Project.
The Paulsens Gold Operation covers 530km-square 180km west of Paraburdoo in Western Australia, and has a current resource of 217,000oz @ 4.9g/t Au.
Images: Black Cat Syndicate Ltd
