Black Cat Syndicate (ASX:BC8) reports new high grade discoveries at Paulsens

Black Cat Syndicate has reported a new high grade gold discovery at the Lynx lode and further high grade results from the Regulus lode within its Paulsens Gold Operation, while also providing an update on exploration activities at the Belvedere prospect.

The Company states the Lynx discovery represents a previously unrecognised structural orientation, while Regulus demonstrates the prospectivity of the underexplored hanging wall.

The Company also states these discoveries establish a repeatable exploration framework that is already delivering results and is expected to support further growth across the Paulsens gold system.

Highlights

The Lynx discovery defines high grade gold mineralisation in a new structural orientation within the upper levels of the Paulsens mine.

The announcement states the mineralisation differs from previously mined lodes and was identified through exploration development and targeted drilling after mine geologists recognised a late stage quartz vein overprinting earlier gold mineralisation.

Lynx is currently defined over 200m of strike and 260m down plunge, with mineralisation remaining open both up and down plunge. Reported drill intercepts include 4.80m @ 18.80g/t Au from 50.93m, 8.30m @ 9.07g/t Au from 51.30m and 1.52m @ 54.40g/t Au from 50.99m.

Surface diamond drilling has commenced to test the up plunge extent of the Lynx mineralisation.

Regulus is described as a newly identified zone of high grade gold mineralisation located in the hanging wall of previously mined areas at Paulsens.

Follow up drilling and underground development have defined a series of steeply dipping sub parallel high grade lenses over 180m of strike and 40m of vertical extent.

New reported intercepts include 2.33m @ 19.8g/t Au from 42.35m, 3.34m @ 14.70g/t Au from 43.46m, 3.68m @ 40.30g/t Au from 45.00m, 1.12m @ 69.60g/t Au from 39.82m, 4.83m @ 10.90g/t Au from 45.55m and 2.81m @ 18.30g/t Au from 39.82m.

The announcement also states that mill reconciled development ore from the 750 level returned 4,900t @ 9.7g/t Au for 1,528oz over a 66m development drive.

Black Cat also reported that first gold was poured at Paulsens in December 2024 following the successful refurbishment and restart of the plant.

The Company states it has since produced over 40koz and has repaid the purchase price and all invested capital within 18 months of operation.

The announcement also states that 40% of ounces produced have come from outside the current Resource.

Black Cat Managing Director James Bruce said:

"The discovery of Lynx and Regulus as well as the potential at Belvedere confirms that Paulsens is a far larger, more dynamic high grade system than previously understood, and one that warrants further investment."

The announcement also outlined the next phase of work at Belvedere, located 5km from the Paulsens processing plant.

The current Resource is reported at 30koz @ 6.6g/t Au and remains open along strike to the north and at depth.

The current drilling program is focused on expanding the scale of the Belvedere mineralised system and identifying additional nearby deposits.

Resource growth drilling is planned for late 2026, while Grey Goose and Haku have been identified as additional targets within the Belvedere corridor.