Black Cat Syndicate Limited (ASX:BC8) has obtained significant, near mine, high-grade results from previous drilling at Paulsens Gold Operation in Western Australia.
Highlights
• Black Cat is undertaking an extensive geological review as part of its objective to find another Paulsens (+1Moz). This review includes new interpretations of the Paulsens orebody and incorporating all drilling intercepts into revised Resource models. Structural and 3D seismic reviews are also underway.
• The review has identified previously unreleased diamond core assay results from drilling undertaken in 2020.
• Significant, near mine, high-grade results from outside of the current reported Resource highlight strong potential to extend the current underground Resource (89,000oz @ 5.8 g/t Au): o 1.42m @ 102.37 g/t Au from 19.34m (PDU4518) o 6.19m @ 15.86 g/t Au from 23.72m (PDU4550) o 0.94m @ 58.10 g/t Au from 19.50m (PDU4544) o 1.33m @ 26.07 g/t Au from 22.02m (PDU4542) o 1.26m @ 25.36 g/t Au from 14.60m (PDU4491) o 0.88m @ 36.77 g/t Au from 7.62m (PDU4501)
• Furthermore, thick, high-grade infill results emphasise the robust nature of the current Resource: o 5.72m @ 35.32 g/t Au from 36.78m (PDU4536) o 5.99m @ 25.23 g/t Au from 16.88m (PDU4537) o 3.00m @ 42.68 g/t Au from 1.00m (PDU4518) o 4.20m @ 25.61 g/t Au from 4.00m (PDU4539) o 8.05m @ 11.09 g/t Au from 59.96m (PDU4555) o 2.00m @ 30.30 g/t Au from 13.00m (PDU4524)
• Paulsens is a dewatered, ventilated and well maintained high-grade underground mine which produced more than 900,000oz @ 7.3 g/t Au until being placed on care and maintenance in 2017.
• Black Cat will embark on its objective to find another high-grade Paulsens-style orebody with the commencement of extensional and discovery drilling in September 2022.
“Paulsens is a high-quality, well-maintained operation with significant Resource growth potential,” Managing Director, Gareth Solly, said.
“We consider the mining and processing of remnant resources could have the potential to repay the Paulsens and Coyote acquisitions. However, the main game is to find another Paulsens (+1Moz) near existing underground infrastructure.
“We have made a strong start on this front, with a detailed geological review well underway and are expecting to generate numerous high-quality targets as we embark on our quest to discover another Paulsens with drilling to start in September 2022.
“Our track record to date is that we have discovered 1.5oz for every 1oz acquired and we plan to better this at Paulsens.”
For further information please visit: https://www.blackcatsyndicate.com.au/
