- Black Cat Syndicate (BC8) highlights a drilling result of up to 102.37 grams of gold per tonne at its Paulsens Gold Operation in Western Australia
- The company discovered the result through a geological review of the Paulsens operation which identified previously unreleased diamond core assay results from drilling undertaken in 2020
- The company says the near-mine results from outside the current resource highlight the strong potential to extend the current underground resource
- The company is now undertaking an extensive geological review as part of its objective to find a similar area to Paulsens with structural and 3D seismic reviews underway
- Black Cat Syndicate last traded at 32 cents on July 7
Black Cat Syndicate (BC8) has highlighted a drilling result of up to 102.37 grams of gold per tonne at the Paulsens Gold Operation in Western Australia.
The company discovered the result through a geological review of the Paulsens operation which identified previously unreleased diamond core assay results from drilling undertaken in 2020.
The results from this previous drilling showed hits including 1.42 metres at 102.37 grams of gold per tonne from 19.34 metres, and 0.94 metres at 58.1 grams of gold per tonne from 19.5 metres.
According to the company, the near-mine results from outside the current resource highlighted the strong potential to extend the current underground resource of 89,000 ounces at 5.8 grams of gold per tonne.
Black Cat Managing Director Gareth Solly said Paulsens was a high-quality operation with significant resource growth potential, and the company was now looking to source a similar area.
“The main game is to find another Paulsens near existing underground infrastructure,” Mr Solly said.
“We have made a strong start on this front, with a detailed geological review well underway and are expecting to generate numerous high-quality targets as we embark on our quest to discover another Paulsens with drilling to start in September 2022.”
The company is now undertaking an extensive geological review as part of its objective to find another similar area, with structural and 3D seismic reviews underway.
The Paulsens operation is a dewatered, ventilated, high-grade underground mine which produced more than 900,0000 ounces at 7.3 g/t gold until it was placed on care and maintenance in 2017.
Black Cat Syndicate last traded at 32 cents on July 7.