Black Cat Syndicate (ASX:BC8) is progressing with its acquisition of Cazaly Resources’ (ASX:CAZ) Cheela prospect amid a greater expansion of its Big Sarah prospect within the Paulsens Gold Operation.
The company has increased its Paulsens Project tenure to around 3,650km2 of landholdings with the additional 460km2 tenement pegging and acquisition of Cheela, Silent Sisters, and New Morning.
Black Cat will issue $50,000 worth of shares at an issue price of $0.81 per share to Cazaly, in addition to its $150,000 cash payment to acquire Cheela, which comprises a 1.8km by 1.4km anomaly grading over 10 parts per billion gold at the New Dawn prospect with limited historical drill testing.
Rock chips at New Dawn previously returned grades up to 32.32% copper across a 2km zone of anomalism as well as two untested bedrock conductors identified in a 2023 airborne geophysical survey.
Further along strike from the surface anomaly, the New Morning prospect has been pegged for mineral claims, which previously returned 4m @ 0.15g/t gold in rotary air blast drilling and 6m @ 1.3g/t gold from 221m in a reverse circulation drilling program.
The company has also agreed to acquire the Silent Sisters prospect from privately held Deep 8 Mining, which runs along strike from the other new prospects with a historical production of 273 tones @ 68% lead and 116 tones @ 160 grams per tonne silver.
Following the completion of acquisitions, Black Cat will have increased its tenure to around 2,722km2, furthering the company’s strategic position within the Barring Downs and Nanjilgardy fault zones.
Managing Director Gareth Solly says the company is excited to introduce three new tenements with gold-bearing structures to its tenure.
“The exploration team has been busy conducting reconnaissance work around Big Sarah and have identified three laterally extensive vein corridors with strike extent up to roughly 15km, including a 4km long zone of undrilled gold anomalism,” Solly says.
Black Cat has collected 164 rock samples across 19 target areas of the Big Sarah area, highlighting three corridors hosting sub-parallel quartz-oxide veins.
Results include up to 2.91g/t gold in the recent reconnaissance work and up to 24.51g/t gold in historical efforts, which the company will follow up with drilling in Q3 2025.
Black Cat is an Australian gold producer with a growing portfolio spanning Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Black Cat Syndicate
