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Black Cat Syndicate Delivers Near Mine Growth from Paulsens Drilling

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

Black Cat Syndicate received high-grade extensional results from drilling carried out in the upper, middle and lower Main Zone outside the current Paulsen Resource.

Main Zone is considered to host growth opportunities adjacent to known lodes, from un-developed veins adjacent to the decline and down plunge extensions.

The company highlighted the results to be located near existing or planned development, requiring minimal additional access capital.

Recent drilling from the Upper Main Zone targeted extensions to hangingwall lodes within the Main Zone, including potential down plunge extensions to the Apollo deposit.

Results from outside the current mine plan in the upper section of the mine include:

PGGC23043
5.41 metres at 9.25 grams per tonne gold from 139.59m;

PGGC23057
2.73m at 7.12g/t gold from 48.3m; and

PGGC23044
1.09m at 7.13g/t gold from 118.36m.

Drilling at the Middle Main Zone section of the mine targeted extensions to lodes in the immediate hangingwall of the Main Zone, which has not previously been a focus.

Results from outside the current mine plan in the middle section of the mine include:

PGRD23169
2.07m at 9.1g/t gold from 45.58m;

PGRD23234
1.45m at 16.68g/t gold from 61.75m;

PGRD23235
1.15m at 18.34g/t gold from 69m; and

PGRD23237
3.66m at 5.4g/t gold from 50.09m.

Results from the Lower Main Zone outside the current Resource include:

PGRD23165
1.31m at 89.83g/t gold from 92.06m;

PGRD23206
0.8m at 37.4g/t gold from 57.01m; and

PGRD23209
1.92m at 14.86g/t gold from 26.08m.

“Our ongoing drilling success continues to show significant upside in readily accessible areas that have the potential to contribute strong early cashflow,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“These and other recent results will be included in the November 2023 Restart Study which is expected to deliver increased production, improved recoveries, a lower upfront capital cost and stronger cashflow.

“With surface RC drilling to commence in mid-October 2023 we are excited by the potential to extend the upper parts of the Paulsens system as well as regional targets that include the 2.5 kilometres long, undrilled Belvedere trend.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Black Cat Grows Paulsens MRE, Eyes First Gold in 2024

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THE CONFERENCE CALLER: Black Cat Syndicate (ASX: BC8) announced a 25 per cent boost to its high-grade Paulsens gold resource today but managing director Gareth Solly told the 2023 RIU Sydney Resources Round-up he expects it to further expand. By Ngaire McDiarmid

The mothballed Paulsens, in Western Australia’s Pilbara, is the mine that proved a company-maker for Northern Star Resources and was acquired by Black Cat less than a year ago.

Since then, the company has increased the underground resource 360 per cent to the current 322,000 ounces grading 10.1 grams per tonne gold.

Along with the Coyote underground resource near the Northern Territory border comprising 356,000oz at 14.6g/t gold, Black Cat has two of Australia’s highest-grade gold deposits.

The company also has a 1.3 million ounce gold resource at its Kal East project in WA’s Goldfields.

However, Paulsens is the frontrunner, thanks to its existing infrastructure including a 110-person camp and 450,000 tonne per annum mill.

A restart study is underway and a decision is slated for mid-year, with Solly eyeing the prospect of a first gold pour at Paulsens in 2024.

“It’s a great time to be in gold,” he told delegates.

The company can draw from the experience of Silver Lake Resources founding members Paul Chapman and Les Davis, who are on Black Cat’s board.

“We do expect to continue to grow the [Paulsens] resource,” Solly said, and pointed to the “potential transformational discovery opportunities” at the Lower Gabbro.

He also said the project hosted regional potential, including the possibility of “another Paulsens?” at the Belvedere deposit 5km away, plus the polymetallic growth headlined by the project’s 1.2 million tonnes Mt Clement resource containing Australia’s third-largest antimony deposit.

 

Black Cat Syndicate Continues High-Grade Gabbro Veins Growth

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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

 

Black Cat Syndicate Extends Paulsens Gabbro Veins

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) continues to produce drilling highlights from the company’s 100 per cent-owned Paulsens gold operation in Western Australia.

Paulsens underground is one of Australia’s highest-grade deposits with a current JORC 2012 Mineral Resource of 259,000 ounces at 10.7 grams per tonne gold (56% Measured & Indicated).

Recent results from extensional and discovery drilling outside the current Gabbro Veins Resource has continued to demonstrate the growth potential at Paulsens with assays from drilling up plunge of previous drilling returning:

PGRD23001A
0.9 metres at 9.32 grams per tonne gold from 59.3m;

PGRD23002
1.96m at 5.71g/t gold from 61.47m and 1.63m at 16.05g/t gold from 64.87m, including 0.56m at 35.3g/t gold from 64.87m;

PGRD23002A
1.1m at 8.95g/t gold from 92.9m;

PGRD23003
0.32m at 62g/t gold from 47.24m; and

PGRD23005
0.70m at 13g/t gold from 78.3m and 0.5m at 14g/t gold from 91.5m.

Black Cat has drilling ongoing with two underground rigs operating in preparation for a Resource update in May 2023.

“More extensional results from the footwall Gabbro Veins highlight their extensive and high-grade nature,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The Gabbro Veins represent an untested opportunity at Paulsens with strong near-term mining potential, being located adjacent to the existing decline.

“The current Resource is already robust at 259,000 ounces at 10.7 grams per tonne gold (56% Measured & Indicated).

“With two underground diamond rigs now operating and accelerating results, we are excited about the growth potential of the high-grade underground Resource at Paulsens.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Gold Maintains Relevance Despite Influx of New Age Commodities

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COMMODITY CAPERS: For some, gold seems to have lost its traditional lustre, however there are still exploration plays out there proving there is life in the world’s oldest currency yet.

Punters completing laps of the exhibition floor at the recent RIU Explorers Conference would be forgiven for reaching the conclusion that the exploration sector has lithium and rare earths squarely in its sights.

The race to accumulate the future facing metals that are set to launch us into a digital lifestyle first presented to us by The Jetsons so many years ago does have wide-eyed and wide-walleted investors filled with FOMO scrambling to get their slice of the electrified pie.

Although it probably wasn’t around as long ago to be squirrelled away by The Flintstones, gold has been the favoured metal for those seeking a ‘safe haven’ asset for thousands of years.

For centuries it has provided an inflationary hedge during times of severe economic stress, and in real terms, 2023 is shaping up to maintain this rule.

The bean counters at the World Gold Council determined that 2022 was a good year for gold with global central banks buying some 1,136 tonnes of gold worth $70 billion, which is the most since records began in 1950.

In its December 2022 Resources and Energy Quarterly, the Department of Industry, Science and Resources reminded us that gold prices averaged US$1,728 an ounce in the September quarter 2022 dues to pressure from increasing bond yields and the strong US dollar.

“A rebound to above US$1,750 an ounce in mid-November followed lower-than-expected US inflation data, which lowered market expectations for further interest rate increases,” DISR said.

According to the report, Australian gold mine production in the September quarter 2022 was 5.4 per cent higher year-on-year at 78 tonnes with production forecast to increase to 329 tonnes in 2023–24, as new projects and expansions of existing projects come on line.

So, let’s follow the yellow brick road for a moment to see what some gold-focused companies have been up to in just the two weeks since the RIU Explorers Conference.

 

In the lead up to the RIU Explorers Conference, Black Cat Syndicate (ASX: BC8) released an updated JORC 2012 Mineral Resource at Paulsens Underground, part of the company’s 100 per cent-owned Paulsens gold operation in Western Australia.

Total gold Resources at the Paulsens gold operation increased 73 per cent to 401,000 ounces at 3.3 grams per tonne gold, including an increase to total Measured and Indicated Resources of 65 per cent to 163,000 ounces at 8g/t gold.

The Paulsens Underground Resource increased to 258,000 ounces at 10.8g/t gold.

This week, Black Cat reported assays from an additional 15 diamond holes recently undertaken targeting underground Gabbro Veins and shear-hosted mineralisation it declared had continued to demonstrate immediate upside to the high-grade Paulsens Underground Resource.

Results included:

22PGRD038
2 metres at 39.9g/t gold from 18.75m and 1.03m at 17.8g/t gold from 51.12m; and

22PGRD004
1.23m at 14.84g/t gold from 28.68m and 1.55m at 6.14g/t gold from 60.68m and 0.86m at 58.5g/t gold from 102.14m.

“The Gabbro Veins continue to deliver impressive grades often with multiple veins intersected in each hole,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“A second rig will arrive this week as we ramp up drilling in the lead up to a restart decision.

“The Gabbro Veins represent a potential new mining front and host one third of the underground Resource.

“Along with Coyote Central this is one of Australia’s highest grade gold deposits.

“A further two months of drilling has been completed since then and will continue throughout 2023, focussed on Resource growth and discoveries around existing underground infrastructure.

“The next Resource update is planned for May 2023.”

Musgrave Minerals (ASX: MGV) was another to arrive at Explorers with news to tell following the release of assay results from reverse circulation (RC) drilling across multiple prospects, on the company’s 100 per cent-owned ground at the Cue gold project in WA.

The assay results came from drilling completed in December 2022 at the Amarillo, Big Sky, Big Sky North and East Numbers prospects.

Final assays from this drilling were released this week that Musgrave declared to have identified a potential new high-grade lode around 50m north of the Break of Day deposit.

Drilling including a single RC drill hole testing a new target zone that intersected:

22MORC413
4m at 8.2g/t gold from 50m within 14m at 2.8g/t gold from 50m.

“The intersection north of Break of Day may represent a new, untested high-grade lode and demonstrates the ongoing discovery opportunity within this system,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“This is a positive result as it bodes well for further discovery upside within the favourable Break of Day stratigraphic package.

“More drill testing is required to confirm the strike and dip extent of this new lode.

“In addition, further results from White Heat-Mosaic, White Light and the new Waratah zone all have the potential to add to our resource base as we continue to advance the Cue gold project.”

 

 

All Indicators Point to a Big First Day at RIU Explorers 2023

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THE CONFERENCE CALLER: The competition for delegate attention is already heating up on the eve of the RIU Explorers Conference with presenting companies releasing eye catching announcements.

 

Alto Metals (ASX: AME) reported RC drilling at the historic high-grade Oroya Mine, located within the company’s 100 per cent-owned Sandstone gold project intersected high-grade gold mineralisation beyond the boundaries of historical workings.

The wide-spaced step out drilling confirmed Alto’s current geological model as it targets extensions of the Sandstone Main reef and unmined mineralisation to the north-west beyond the north end of the pit, along with extensions down dip to the west.

READ MORE HERE

 

Medallion Metals (ASX: MM8) reported further expansion of the JORC 2012 Mineral Resource Estimate (MRE) at the company’s Ravensthorpe gold project in Western Australia.

The expanded MRE at Ravensthorpe now totals 19.5 million tonnes at 2.1 grams per tonne gold and 0.3 per cent copper for 1.3 million ounces of gold and 59,000 tonnes of contained copper metal.

There are 790,000 ounces (61%) of the gold and 36,000 tonnes of the copper (60%) metal estimated in the her confidence Indicated category, the remainder is in Inferred.

READ MORE HERE

 

Azure Minerals (ASX: AZS) intersected lithium-bearing pegmatites while drilling diamond holes in late 2022, testing nickel targets on its Andover project in WA.

Azure drilled ANDD0199 to test a nickel target near the an airborne electromagnetic (VTEM) anomaly, which at a downhole depth of 313.9 metres returned a strong lithium intersection of 1.51 per cent lithium oxide (Li2O) over 7.2m, including an internal high-grade zone of 1.87 per cent Li2O over 3.1m.

Azure interpreted this result to be further evidence of the mineral endowment of Andover as a battery metals project hosting nickel, copper, cobalt and now lithium.

READ MORE HERE

 

Encounter Resources (ASX: ENR) declared confirmation of lithium and other critical minerals bearing LCT pegmatites at the Crawford target part of the company’s Junction lithium project in the Northern Territory.

“The first on-ground activities completed have identified a trend of lithium and critical minerals bearing LCT pegmatites,” Encounter Resources managing director Will Robinson said.

“Crawford is a new critical minerals occurrence in the North Arunta and is located approx. five kilometres east of Core Lithium’s Ringing Rocks prospect which further serves to highlight the potential of the broader Junction region.”

READ MORE HERE

 

Dreadnought Resources (ASX: DRE) announced an Exploration Target for the approx. 40kms strike of the Yin Ironstone Complex within the company’s 100 per cent-owned Mangaroon project, located in the Gascoyne Region of WA.

The Exploration Target follows Dreadnought’s recent expansion of the Yin Ironstone Complex to 43kms of strike, combined with extensive geological knowledge of the REE ironstones in the region has provided the foundation for the Exploration Target.

The Exploration Target covers over 40kms of the near surface ironstones at Yin and importantly, excludes the current Yin Resource, any mineralisation at depth (underground potential) and the C1-C7 carbonatites.

READ MORE HERE

 

Black Cat Syndicate (ASX: BC8) updated the JORC 2012 Mineral Resource at Paulsens Underground, part of the company’s 100 per cent-owned Paulsens Gold Operation in WA.

Black Cat has increased the total gold Resources at the Paulsens Gold Operation by 73 per cent to 401,000 ounces at 3.3g/t gold.

Total Measured and Indicated Resources increased 65 per cent to 163,000 ounces at 8g/t gold.

“To triple the underground Resource after only two months of drilling is a sensational start to our growth and mining ambitions at Paulsens,” Black Cat Syndicate managing director Gareth Solly said.

“We see huge upside in the near mine area as well as potential repeat targets and the greater region.”

READ MORE HERE

 

De Grey Mining (ASX: DEG) has identified a new structurally controlled gold zone at the Withnell gold deposit, within the company’s Mallina gold project in the Pilbara.

De Grey reported drilling results from Withnell South it said provides opportunity to increase shallow, open pit resources.

Multiple new lodes were defined over 800m of strike and 200m vertical depth remaining open to the east and at depth.

The company believes these demonstrate the potential to increase the resource base and future production from its existing, structurally hosted, regional deposits.

READ MORE HERE

 

Caspin Resources (ASX: CPN) reported on final drilling, rock chip and soil geochemistry results from recent programs at the company’s Mount Squires project in WA.

There recent activity identified a two kilometres long gold in soil anomaly on the Handpump Fault, known as the Regal prospect, which is the largest and strongest gold geochemical anomaly Caspin has defined at the project to date.

This is surrounded by several other smaller gold anomalies.

Further gold and molybdenum results were achieved from aircore drilling at the Duchess prospect where deeper RC drill testing is to be carried out in 2023.

READ MORE HERE

 

 

Black Cat Syndicate Declares Coyote One of Australia’s highest-grade deposits

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) provided an updated JORC 2012 Mineral Resource at Coyote Central, part of the company’s 100 per cent-owned Coyote Gold Operation in Western Australia

Black Cat has completed the first combined Resource over Coyote Central since 2008 that has increased the total Resources at the Coyote Gold Operation by 32 per cent from 488,000 ounces at 5.1 grams per tonne gold to 645,000 ounces at 5.5g/t gold.

Total Indicated Resources increased 105 per cent from 150,000 ounces at 3.8g/t gold to 307,000 ounces at 5.3g/t gold.

The underground Resource at Coyote Central increased to 356,000 ounces at 14.6g/t gold (51% Indicated), making Coyote Central one of the highest-grade deposits in Australia.

“With our new geology model and just five months of drilling, we have demonstrated that Coyote Central is one of the highest-grade underground deposits in Australia, containing 356,000 ounces at 14.6 grams per tonne gold,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“We have also substantially increased the total Coyote Central Resource to 424,000 ounces at 8.8 grams per tonne gold, with average ounces per vertical metre of greater than 1,000 ounces.

“Furthermore, the new Resource currently extends to 400 metres below surface even though there is known mineralisation down to 700 metres and remains open beyond that.

“We expect to further extend the Resource with additional drilling.

“It is exciting to have already demonstrated the grade and scale potential of Coyote within such a short period of time.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Black Cat Syndicate Spies Visible Gold in First Gabbro Veins Holes at Paulsens

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) is currently carrying out a program of underground diamond drilling at the company’s Paulsens gold operation in the north of Western Australia.

Black Cat Syndicate has completed the first six holes of the program into the Gabbro Veins that are in the footwall of the Paulsens decline and considered by the company as readily accessible for potential mining restart.

All six holes infilled historic high-grade intercepts for Resource upgrades as well as intersecting wide quartz veins (up to 2m wide) in the interpreted positions with assays for all holes expected in December 2022.

A bonus was visible gold intersected in three drillholes hosted in both thick quartz veins and narrow shears within the gabbro.

“Our first holes at Paulsens are targeting potential production areas adjacent to existing workings,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“The Gabbro Veins are an overlooked opportunity that we believe have the potential to lead a restart scenario while we undertake the hunt for another Paulsens in both offset and repeat target positions.

“We are excited by what we see in these first holes given they intersect our interpreted structures and contain visible gold.

“Drilling will be ongoing at Paulsens to delineate near-term mining opportunities throughout the December 2022 quarter.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.blackcatsyndicate.com.au

 

Black Cat Syndicate Extends High-Grade Hits at Kavanagh

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) has reported further drilling results from the company’s 100 per cent-owned Coyote gold operation in Western Australia.

Black Cat Syndicate’s drilling efforts have continued to identify high-grade shear-hosted quartz mineralisation within the hinge zone of the Coyote Anticline, known as the Axial Core Zone, which hosts the Kavanagh and Speedy Resources (131,000 ounces at 10.1g/t gold).

The drilling extended mineralisation approx. 25 metres up dip from Kavanagh towards Speedy, increasing the company’s confidence that these two separate Resources may merge within this untested zone.

Results from up dip of Kavanagh include:

22CYDD009
1.2 metres at 39.33 grams per tonne gold from 400.4m and 1m at 63.7g/t gold from 410.6m.

The drilling also extended mineralisation approx. 50m down dip from Kavanagh with results including:

22CYDD007a
4.46m at 7.71g/t gold from 496.84m.

The company declared the drilling confirms and validates its new geological model and extends Kavanagh both up and down dip, demonstrating the growth potential of the high-grade Resources within the Axial Core Zone.

Diamond and RC drilling is ongoing, targeting the Axial Core Zone with 20 holes completed to date, all of which intersected quartz veins in interpreted positions.

A Mineral Resource update is expected to be completed in the current December 2022 quarter.

“These results are significant as they validate our new geology model and have demonstrated the high-grade growth potential of Kavanagh and the wider Coyote Central system into areas previously considered to be less prospective,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Two more diamond holes down plunge to the east of Kavanagh and an additional two RC holes completed between Kavanagh and Speedy have intersected quartz veining with assays pending.

“RC and diamond drilling is ongoing with additional holes testing the shrinking gap between and beyond Speedy and Kavanagh.

“A new Resource for Coyote Central will be completed in the current quarter and will include these significant results.

“We expect continued Resource growth from there with further drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.bc8.com.au

 

 

Black Cat Syndicate Confirms Open Gold at Speedy

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THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) continued its run of drilling highlights from the company’s 100 per cent-owned Coyote gold operation in northern Western Australia.

Black Cat Syndicate received assays for the first 15 holes of a 37 hole RC drill program at the shallow, high-grade Speedy deposit that it said had continue to confirm gold mineralisation in targeted positions.

Latest assays received include:

22CYRC0009
9 metres at 19.22 grams per tonne gold from 172m, including 1m at 88.5g/t gold and 1m at 41.5g/t gold;

22CYRC0009
6m at 2.16g/t gold from 164m;

22CYRC0010
3m at 3.22g/t gold from 143m; and

22CYRC0011
3m at 2.14g/t gold from 129m.

Black Cat noted these results confirm that Speedy is not closed off at depth or along strike.

“The bonanza grade of 9 metres at 19.22 grams per tonne gold and up to 88.5 grams per tonne over one metre at Speedy is typical of the Coyote mineralisation,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“This result highlights the upside of the system and we expect to see more results of this quality as our drilling progresses.

“At Coyote if you intersect a quartz lode there is a good chance that high-grade gold mineralisation is nearby.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.blackcatsyndicate.com.au