Black Cat (ASX:BC8) stretch out Paulsens Gold
August 4, 2023Black Cat Syndicate’s grade control drilling has continued to extend Paulsens Gold in multiple directions, with high-grade results up to 170.86g/t gold showing potential for upgrades and additional ounces within and immediately outside the mine plan for its fully owned gold project in Western Australia.
And additional results from the Main Zone Extension have demonstrated the potential to add significant mine life or an increased production rate, with more enticing results coming from outside the current resource at the Gabbro Vein extensions and the Paulsens East Trend.
Black Cat Managing Director Gareth Solly said the exploration results were all value adding, and grade control drilling is upgrading the mine plan.
“The Main Zone Extension, which has yet to be considered in the recent Restart Study, is coming in as modelled and has the potential to substantially extend Paulsens mine life and/or production rates,” Mr Solly said.
“Our short-term goal at Paulsens is to grow mine life and be producing at 60 to 70kozpa. Our longer-term goal, subject to further drilling and subsequent development, is returning the Paulsens underground mine to the higher production rates that built Northern Star,” he added.
“Results along the 2.5km long Paulsens East Trend, running parallel to, and in the hanging wall of, the Main Zone, are also showing potential for strong growth and new Resources.”
Paulsens restart
Paulsens once had a historically high-grade production of 907koz @ 7.3 g/t, and the continued return of high-grade gold has Black Cat on the verge of restarting the operations which served as the foundation of Northern Star Resources and its $13.19 billion market cap.
Northern Star said Paulsens was in good hands with a proven track record when it made the sale along with its Western Tanami Operations, and Black Cat has made good on extensive exploration plans which has operations primed for a restart.
The initial production target is set at a robust 135koz @ 4.2g/t gold, with a head grade in the top 10 of Australian producers and significant potential to raise the production rate.
Forward plan
Near-mine drilling is continuing to test several resource extension and geophysical targets across the project area including several conceptual targets and extensions to known lodes at the relatively untapped East Trend.
And if a soon-expected decision to mine comes back in the affirmative, it is expected to be a rapid restart, with the first gold expected from six months after beginning plant refurbishment set to mark a new Australian producer.
Significant new results
Grade Control
• 2.83m @ 11.48g/t Au from 13.17m and 1.03m @ 170.86g/t Au from 29.52m (PGGC23009) – Main Zone
• 1.60m @ 13.10g/t Au from 0.00m (PGGC23010) – Main Zone
• 0.46m @ 17.50g/t Au from 30.05m (PGGC23006) – Gabbro Veins
• 0.71m @ 6.09g/t Au from 33.65m (PGGC23008) – Gabbro Veins
Main Zone Extension
• 1.38m @ 3.69g/t Au from 94.40m (PGEX23034)
• 0.37m @ 5.69g/t Au from 182.63m (PGEX23033)
Gabbro Veins
• 2.99m @ 7.01g/t Au from 67.11m (PGRD23130)
• 2.02m @ 4.35g/t Au from 25.84m (PGRD23129)
• 1.35m @ 6.58g/t Au from 153.32m and 1.08m @ 9.98g/t Au from 167.92m (PGRD23128
Paulsens East Trend
• 2.45m @ 7.93g/t Au from 285.00m (PGEX23021)
• 2.73m @ 3.49g/t Au from 304.65m (PGEX23023)
Plan view of the lower mine and recent drill results.
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