Black Cat (ASX:BC8) strike more Bonanza grades at Paulsens Gold

Black Cat Syndicate‘s Main Zone grade control and extensional drilling in the central part of its Paulsens Gold Operation in the Eastern Pilbara has continued to strike high and Bonanza grade gold from both within and outside the current mine plan.

Significant intercepts from extensional drilling including 0.55m @ 223.g/t Au from 75.55m and 1.9m @ 25.54g/t Au came from outside the current mine plan, while grade control drilling within returned model-consistent strikes of 1.1m @ 8.31g/t Au from 73.5m and 0.25m @ 18 g/t Au from 79.75m.

Black Cat Managing Director Gareth Solly said the results had continued to demonstrate offerings of near-term growth potential.

“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,” Mr Solly said.

Refiring Paulsens

The Bonanza returns show the continued allure of Paulsens, a mine which produced at historically high grades at 907koz @ 7.3 g/t and served as the beginning of mining major Northern Star Resources and its current $1.35 billion market cap.

Northern Star said it was delighted to make the sale of its foundational asset to a proven operator like Black Cat, and Paulsens new owner has set an initial production target for the restart at 135koz @ 4.2g/t gold with a head grade in the top ten of Australian producers.

Grade control drilling had already stretched out mineralisation in multiple directions, and with the continued return of high-grade gold, there is significant room remaining to raise the production rate.

Underground wall mapping and sampling with the potential to identify additional feed is underway, and an upgraded resource is due next month to allow updates to the base case mine plan.

Surface RC drilling along Belvedere is also planned for October, with the untested trend host to numerous historic workings and rock chip returns up to 47.3g/t Au, 158.0g/t Ag, 1.3% Cu.

Plan view of the mine’s central section showing recent Main Zone drill results

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Industry: Gold

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Black Cat Syndicate Limited, together with its subsidiaries, engages in the exploration and evaluation of gold properties in Western Australia. It owns 100% interest in the Kal East Gold project covering approximately an area of 650 square kilometers located to the east of Kalgoorlie, Western Australia; the Coyote gold operation project located in the Western Tanami region; and the Paulsens Gold Operation project located in the Ashburton Basin in the Eastern Pilbara region. The company was incorporated in 2017 and is based in Perth, Australia.