Black Cat Syndicate Limited (ASX: BC8) has continued to obtain positive underground diamond drilling at the 100% owned Paulsens Gold Operation in WA.
Paulsens underground is one of Australia’s highest grade gold deposits with a current JORC 2012 Mineral Resource of 258koz @ 10.8g/t Au (56% Measured & Indicated).
Highlights
- Ongoing extensional drilling, targeting the Gabbro Veins in the mid-levels of the mine, continues to demonstrate the Resource growth potential for the Gabbro Veins (current Resource of 86koz Au @ 11.90g/t Au1). New significant assays from outside the current Resource include:
- 0.37m @ 16.50g/t Au from 157.61m and; 2.10m @ 2.31g/t Au from 187.07m (PGRD23074 – outside current Resource)
- 0.58m @ 20.83g/t Au from 156.07m and 1.77m @ 5.89g/t Au from 161.32m (PGRD23075 – outside current Resource)
- 1.77m @ 5.26g/t Au from 89.09m and; 0.42m @ 40.35g/t Au from 141.23m and; 0.23m @ 9.91g/t Au from 152.24m (PGRD23077 – outside current Resource)
- 0.96m @ 6.36g/t Au from 9.62m and; 0.22m @ 16.80g/t Au from 129.89m and; 0.62m @ 9.23g/t Au from 132.80m and; 0.33m @ 2.15g/t Au from 156.13m (PGRD23112 – outside current Resource)
- Current drill results from the Gabbro Veins continue to extend mineralisation along strike and vertically and illustrate the geological and grade continuity of the vein system.
- The Gabbro Vein system represents a potential new mining area for Paulsens.
- Drilling is ongoing and the next Paulsens Resource update will be released in May 2023.
The ongoing results coming out of the Gabbro Veins drilling is strong validation of our thesis that they represent both a significant gold Resource and a potential new mining area for the Paulsens Gold Operation,” Managing Director, Gareth Solly, said.
“The most recent results are all extensional to the current Paulsens Resource and will be included in the update to be completed in May 2023. Engineering activities are also in full swing as we ready the site for a potential restart decision in the middle of the year.”
