Black Cat has big plans lined up for its Paulsens Gold Operation
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While Black Cat’s recent drilling focus has largely been on its Coyote Gold Project, it’s also been quietly setting the stage for a second exploration front at the Paulsens Gold Project.
A recent review of near-mine resource growth opportunities had identified several high-priority exploration targets including the previously highlighted Paulsens Repeat structural target below and parallel to the underground workings at Paulsens – the mine which first kick started the rise of Northern Star Resources.
While this target will be tested early in a drill program starting in the coming days, regional targets are also being lined up for 2023.
An initial review of a 3D seismic survey in 2018 has identified two additional large-scale gold targets in similar interpreted structural settings to the east of Paulsens. Reprocessing of this data is ongoing to further refine these targets prior to drill testing.
Black Cat Syndicate’s (ASX:BC8) ongoing evaluation of regional exploration opportunities since completing its acquisition in June this year has also identified the 15km long Paulsens Structural Corridor (PSC), the Northern Anticline, Mt Clement/Eastern Hills and Electric Dingo as prospective targets.
Each area hosts multiple gold, base metal and critical metals targets including 5km of fault- related copper-lead-zinc anomalism within the PSC and high-grade antimony at Eastern Hills.
The company has started reprocessing historical data along with surveying and sampling activities to refine targets ahead of systematic drilling in 2023.
“Paulsens is a well-known gold region but is also rich in other commodities. Near mine we see several structural targets with the potential for another Paulsens, while regionally we have seven advanced gold and base metal targets and three gold Resources that remain open with potential to grow rapidly,” managing director Gareth Solly said.
“We also have critical minerals in the form of a high-grade antimony prospect and will work on upgrading the previous JORC 2004 Resource in early 2023.
“Add to all that, more than 5km of base metal anomalism and even a thermal coal deposit and it becomes clear that Paulsens has significant potential not just with gold but across a range of commodities.”
The previously producing Paulsens Gold Operations covers 530km2 of highly prospective ground on the Wyloo Dome in the Ashburton Basin of WA’s Eastern Pilbara region.
It produced 907,000oz of gold at an average grade of 7.3 grams per tonne gold over a 12-year period and has been kept on care and maintenance since 2018.
Current resources have been pegged at 217,000oz at 4.9g/t gold and the well-maintained 450,000tpa processing facility is expected to need minimal capital to restart.
Black Cat expects to soon kick off underground drilling to test targets located close to existing infrastructure being the Gabbro Veins and Apollo with the potential of readily accessible ounces as well as the exciting Paulsens Repeat target.
Ongoing regional activities include reprocessing of 3D seismic data to identify and further refine priority near-mine exploration targets and of other legacy geophysical data such as aeromagnetic and ground electromagnetic surveys.
Additionally, a 25m line spacing aeromagnetic survey is expected to be completed this month with results expected in November while reconnaissance soil and rock chip sampling is ongoing at Belvedere to further refine gold and copper exploration targets.
Reconnaissance rock chip sampling has also commenced at the Mt Clement and Eastern Hill prospects.
Reviewing and ranking of high-priority exploration target areas for 2023 work programs is ongoing, focussing on gold and base metal prospects within Paulsens.
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.