Black Cat Syndicate’s latest round of underground diamond drilling at the Gabbro Veins in the lower mine and the Main Zone in the upper mine of its Paulsens gold operation continues to return more high-grade extensional results.

Of the most recent 17 holes returned, 13 intersected an average of ~5 mineralised lodes per hole with assays pending on a further 5 holes and drilling ongoing testing several resource extension and geophysical targets

The latest results included:

  • 5.21m at 6.27g/t Au from 82.76m (PGRD23010 – Main Zone – Infill Drilling);
  • 0.84m at 17.90g/t Au from 34.23m (PGRD23036 – Gabbro Veins Extensional); and
  • 2m at 9.46g/t Au from 8.00m (PGRD23035 – Gabbro Veins Extensional).

These assays were not included in the recently updated underground resource of 322koz at 10.1g/t Au, including 133koz at 9.20g/t Au from the Gabbro Veins and 154koz at 10.7g/t Au from the Main Zone.

Restart study on track for mid-year

The company says the restart study to support a potential decision to resume mining is on target for completion in mid-2023, with selective mining methods planned to optimise extraction of both the Main Zone and the Gabbro Veins.

“These results from the upper and lower levels of Paulsens continue to show the potential which exists as we drill deeper and parallel to the existing workings,” Black Cat Syndicate (ASX:BC8) MD Gareth Solly said.

“As well as identifying additional Main Zone mineralisation at lower levels, we continue to encounter swarms of high-grade mineralisation in the Gabbro Veins in mineable positions. Assays remain outstanding and drilling continues in parallel with our restart study.”

The initial mine plan will be published in the Paulsens Restart Study in mid-2023.



This article was developed in collaboration with Black Cat Syndicate Limited, 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.