Multiple swarms have been intersected from the footwall Gabbro Veins at the previously producing Paulsens mine, proving that significant gold mineralisation sits immediately adjacent to the decline.

Gabbro is a type of intrusive rock which can contain valuable mineralisation and it’s an area which was largely overlooked by Paulsens previous operator, Northern Star Resources.

Black Cat (ASX:BC8) sees the Gabbro Veins as a valuable opportunity to provide initial ore in a restart scenario at Paulsens and drilled 19 holes into the targets before the end of 2022.

All of these holes intersected quartz-sulphide veins within altered gabbro, as well as visible gold in several holes, which is exactly what Black Cat’s new geological model was predicting.

The latest assays back from the labs for these holes confirmed plenty of high-grade gold including 0.92m at 11.10 g/t gold from 10.16m, 1.92m at 5.19 g/t gold from 69.04m, 0.50m at 47.20 g/t gold from 20.80m and 0.30m at 20.40 g/t gold from 38.90m.

According to BC8, the Gabbro Veins, one of several targets at Paulsens, are known to be mineralised over a strike length of +1km, broadly parallel to the existing underground infrastructure.

Most historic mining at Paulsens (producing 907,000oz at 7.3g/t gold) occurred within the Main Lode and the footwall Gabbro Veins present a significant new mining opportunity at Paulsens.

The Gabbro Veins are located adjacent to, and up to 200m from, the existing decline and can form as swarms over areas up to 4m wide over the +1km strike length.

Building momentum to a potential mine re-start

“Our new geological model at Paulsens is already proving to be highly successful as demonstrated by the results from the footwall Gabbro Veins,” BC8 managing director Gareth Solly says.

“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.”

Black Cat plans to keep drilling the Gabbro Veins, Main Lode and Apollo during the March 2023 quarter as the company works towards a potential re-start.

“An initial resource upgrade at Paulsens will be announced within the next month with further updates throughout 2023,” Solly adds.

 

 

 

This article was developed in collaboration with Black Cat Syndicate, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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