- Black Cat Syndicate’s (BC8) recent results prove “significant” gold mineralisation is waiting to be unearthed at the Paulsens gold operation in Western Australia
- During the December quarter, 19 diamond holes were drilled into the Gabro Veins at Paulsens, of which the company has now received assays from 14 holes
- Results from the vein swarms included 0.92 metres at 11.10 grams per tonne (g/t) gold from 10.16 metres ,and 1.92 metres at 5.19 g/t gold from 69.04 metres
- The remaining assays are expected during January 2023, with further drilling to continue targeting extensions to the Gabbro Veins and the Main Lode
- Black Cat Syndicate shares are up four per cent, trading at 39 cents at 12:30 pm AEDT
Black Cat Syndicate’s (BC8) recent results have proven “significant” gold mineralisation is waiting to be unearthed at the Paulsens gold operation in Western Australia.
During the December quarter, 19 diamond holes were drilled into the Gabro Veins at Paulsens. Of these, the company has now received assays from the first 14 holes.
The company told investors drilling into the Gabbro Veins has continued to be “highly encouraging,” with all holes to date intersecting quartz-sulphide veins within altered gabbro, along with visible gold.
Assays from the vein swarms included 0.92 metres at 11.10 grams per tonne (g/t) gold from 10.16 metres, and 1.92 metres at 5.19 g/t gold from 69.04 metres.
The remaining assays for the other five holes already completed are expected during January 2023 and contain multiple veins with visible gold.
Black Cat Managing Director Gareth Solly said the new geological model at Paulsens is already proving to be “highly successful.”
“We are proving that significant gold mineralisation sits immediately adjacent to the decline, potentially requiring little development to bring back online, and representing a sizable opportunity for Black Cat,” he said.
“Our drilling of the Gabbro Veins, the Main Lode and at Apollo will be ongoing during the March 2023 quarter as we build momentum towards potential restart.”
Drilling in the area is scheduled to continue, targeting extensions to the Gabbro Veins and the Main Lode, and will be ongoing throughout January 2023.
Black Cat Syndicate shares were up four per cent, trading at 39 cents at 12:30 pm AEDT.