Black Cat Syndicate Limited (ASX: BC8) has continued to intersect “bonanza” grades of gold in its underground diamond drilling at the 100% owned Paulsens Gold Operation in Western Australia.
Highlights
- Grade control and extensional drilling of the Main Zone in the central part of the mine continues to intersect high- grade gold from within and outside the current mine plan. These results highlight the growth potential of the current Resource including the potential for a substantial increase in cashflow.
- Significant extensional results from outside the current mine plan include: 0.55m @ 223.00g/t Au from 75.55m; 1.90m @ 25.54g/t Au from 51.00m, including 0.61m @ 65.30g/t Au from 51.80m; and 2.14m @ 8.57g/t Au from 47.81m, including 0.26m @ 63.60g/t Au from 49.00m
- Grade control drilling from within the mine plan has returned grades consistent with the model, including: 1.10m @ 8.31g/t Au from 73.50m, and 0.25m @ 18.00g/t Au from 79.75m (PGGC23037)
- An upgraded Resource is planned for October 2023 to allow updates to the base case mine plan.
- Underground wall mapping and sampling is also underway at Paulsens which has the potential to identify additional feed for increased mill utilisation.
- Surface RC drilling is expected to commence in mid-October 2023 along the 2.5km long, undrilled Belvedere trend where there are numerous historic workings and Au-Ag-Cu rock chips up to 47.3g/t Au, 158.0g/t Ag, 1.3% Cu.
Grade control and near-mine extensional drilling continues to demonstrate the near-term growth potential at Paulsens,” Managing Director, Gareth Solly, said.
“Extremely high grades outside of the base case mine plan, highlight the potential to increase mine life and future cashflows through ongoing drilling. We are also excited about commencing work at Belvedere soon. This is a 2.5km long, gold-silver-copper system that has outstanding discovery potential and has seen little to no drilling.”
“These results continue to highlight the near-term opportunities to add to the current Resource in areas accessible from the current mine design, with the potential to increase mine life. Extensional drilling at Paulsens is designed to continue to test for opportunities to expand the current mine design.”