Black Cat Syndicate Continues High-Grade Gabbro Veins Growth

THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8”) released more positive drilling results from underground diamond drilling at the company’s 100 per cent-owned Paulsens gold operation in Western Australia.

Black Cat Syndicate rates Paulsens underground as one of Australia’s highest grade gold deposits with a current JORC 2012 Mineral Resource 258,000 ounces at 10.8 grams per tonne gold (56% Measured & Indicated).

The company declared its 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, which boast a current Resource of 86,000 ounces gold at 11.9g/t gold.

New assays from intersects encountered outside the current Resource include:

PGRD23074
0.37 metres at 16.5 grams per tonne gold from 157.61m and 2.1m at 2.31g/t gold from 187.07m (outside current Resource); and

PGRD23075
0.58m at 20.83g/t gold from 156.07m and 1.77m at 5.89g/t gold from 161.32m ( outside current Resource).

“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,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE