Black Cat Syndicate (ASX:BC8) returns “promising” gold hits from Paulsens project, WA

• Black Cat Syndicate (BC8) reports “promising” new diamond drilling results from outside the current mineral resource at its Paulsens gold operation in WA
• The fresh results include a 1.4-metre hit grading 12.45 grams per tonne (g/t) gold from 157.8 metres deep
• The company has now mobilised a second diamond drill rig to the Paulsens site to start spinning and expedite near-mine resource growth
• BC8 Managing Director Gareth Solly says the company plans to release a resource update in May, with a decision regarding restarting operations by mid-year
• BC8 shares are trading grey at 37 cents at 11:01 am AEDT

Black Cat Syndicate (BC8) has reported “promising” new diamond drilling results from outside the current mineral resource at its Paulsens gold operation in WA.

The exploration firm intersected 1.4 metres of 12.45 grams per tonne (g/t) gold from 157.8 metres in one of several drill holes, striking 5.29 metres at 1.86 g/t gold from 204.7 metres in another.

The company has now mobilised a second diamond drilling rig to the Paulsense site to expedite near-mine resource growth on the project.

“The shallow areas of Paulsens were primarily mined pre-2010 and remain overlooked as subsequent operations focussed on the main Quartz Zone,” Black Cat Syndicate Managing Director Gareth Solly said.

“These areas remain attractive due to already installed infrastructure and their proximity to surface.”

The project contains several near-mine growth opportunities, including the Gabbro Veins, Quartz Zone and Apollo area.

“With two rigs now drilling from the Paulsens underground, we expect strong news flow to continue ahead of the next resource update in May 2023 and a decision regarding restarting operations by mid-year.”

The current mineral resource for the project sits at 401,000 ounces at 3.3 grams per tonne of gold.

BC8 shares are trading grey at 37 cents at 11:01 am AEDT.