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- Black Cat Syndicate (BC8) reports “high-grade” gold assays of up to 197 grams per tonne (g/t) from diamond drilling in the upper parts of its underground Paulsens mine in WA
- The top drilling results included a hit of 1.7 metres at 33.03 g/t gold from 49 metres, and it was within this intersection BC8 struck the 197-g/t result
- What’s more, Black Cat says the upper areas of the Main Zone lie near the surface and close to existing underground workings
- The company’s drilling work is ongoing, with a fresh resource update slated for before the end of May
- BC8 shares are up 1.14 per cent and trading at 44.5 cents at 10:58 am AEST
Black Cat Syndicate (BC8) has reported “high-grade” gold assays of up to 197 grams per tonne (g/t) gold from 50 metres in the upper parts of its underground Paulsens mine in WA.
The company said ongoing infill and extensional drilling from the Main Zone of the Paulsen’s mine showed mineralised veins in most of the holes with visible nuggety gold.
The top results include a 1.7-metre hit at 33.03 g/t gold from 49 metres, and it was from this intersection that BC8 struck the 0.26-metre zone grading 197 g/t gold.
The company said all samples continued to indicate “strong potential” for upgrading and
growing the project’s mineral resource estimate (MRE).
According to BC8, the Paulsens project is one of Australia’s highest-grade gold deposits, with a current MRE of 259 thousand tonnes at 10.7 g/t gold, with 56 per cent of this in the ‘measured’ and ‘indicated’ categories.
The company said the upper areas of the Main Zone of Paulsen’s mine were near the surface and lay close to the existing underground workings, representing an early mining opportunity.
BC8 plans to release an update of its MRE by before the end of May.
“More robust results continue to highlight the near-term mining potential located in and around the existing Paulsens underground workings,” BC8 Managing Director Gareth Solly said.
“The Main Zone was the source of the majority of the +900koz produced to date, and we are uncovering extensions to the Main Zone and more high-grade gold with every hole
we drill,” Mr Solly said.
Paulsen’s mine is an under-explored orogenic gold region with four main prospect areas, including the 15-kilometre-long Paulsen’s Structural Corridor, the Northern Anticline, Mount Clement and Electric Dingo.
BC8 shares were up 1.14 per cent and trading at 44.5 cents at 10:58 am AEST.
