Black Cat Syndicate (ASX: BC8) has intersected “bonanza” gold grades of up to 1,370g/t in its underground diamond drilling campaign at the 100% owned Paulsens Gold operation in Western Australia.
High-grade extensional results have been received from drilling in the upper Main Zone outside the current Resource, including the 11th highest grade gold assay in the mine’s history. Highlights include:
- 5.10m @ 95.90g/t Au from 92.00m (PGRD23246), including 0.27m @ 1,370g/t Au from 94.00m
- 0.46m @ 9.70g/t Au from 42.00m (PGRD23250)
- 0.46m @ 5.58g/t Au from 88.00m (PGRD23247)
- 0.24m @ 9.15g/t Au from 48.66m (PGRD23251)
The company is planning to release a resource update in October 2023 ahead of a revised Restart Study in November 2023. The Study is targeting increased production, improved recoveries, a lower upfront capital cost and stronger cashflow.
- Underground wall mapping and sampling is ongoing at Paulsens which also has the potential to increase planned production.
- Surface RC drilling is expected to commence at Belvedere at the beginning of November, targeting a ~500m strike length of the prospective, >2.5km Belvedere Trend.
We get more excited with every hole we drill at Paulsens. It is evident that the mineralised structures will host significant gold that can only be realised when mining resumes. Bonanza grades will always be cut and smoothed in geology models but the gold will still make it into bars once the mill is spinning,” Managing Director, Gareth Solly, said.
“Our philosophy of drilling for structure continues to deliver fantastic results. Some of this upside potential will be reported in the Resource update this month, the rest will be seen upon production. In addition, an enhanced study will be released in November 2023 targeting improved metallurgical recoveries, lower upfront capital cost and stronger cashflow.”