Black Cat has highlighted the potential to increase resources at its Paulsens Gold Operations in Western Australia after updating resources at the Mt Clement area.

Mt Clement is now estimated to host contained resources of 66,000oz of gold, 1,600t of copper, 13,900t of antimony, 1.46Moz of silver and 18,700t of lead.

Significantly, this represents Australia’s third largest and second highest grade antimony resource after Costerfield and Hillgrove, giving Black Cat Syndicate (ASX:BC8) a significant presence in a critical mineral that sees use for metal strengthening, military applications, plastics, paints and more due to its fire-retardant and anti-corrosion properties.

The resource upgrade is due to a revision of the Mt Clement geological model from the previous view of western gold-silver mineralisation and eastern antimony-lead mineralisation as being two separate deposits into the current belief that they are both part of a large polymetallic deposit with three zones – Western, Central and Eastern.

Recent mapping and rock chip sampling by the company has identified the potential to increase the strike length of the gold-copper-silver dominant Western Zone from about 100m to 300m.

Additionally, the antimony-lead rich Eastern Zone resource of 794,000t grading 1.7% antimony, 2.4% lead, 17 grams per tonne (g/t) silver and 0.3g/t gold is based on just one of four veins identified at surface.

Rock chips collected recently have returned results of up to 27.4% antimony, 1,165/t silver and 33.6% lead from the undrilled Dugite vein.

There is also 1km of untested strike potential between the Central and Eastern zones.

“The high-grade polymetallic resource at Mt Clement is a great example of the underexplored opportunities we see in the Paulsens region,” managing director Gareth Solly said.

“The gold potential of the area is well known and sticking out of the ground. We also have silver, copper, lead and antimony, which is listed as a critical mineral in the US, Europe and Australia.

“The stellar grades of gold-copper-silver identified well outside the Mt Clement Resource show just how open the mineralisation is there, with an opportunity to significantly extend the Resource with targeted drilling.”

Mt Clement

Mt Clement is located 30km southwest of the Paulsens processing facility, which is on care and maintenance, and hosts one of the only genetic mineral deposits known in the Ashburton Basin.

Black Cat’s new geology model lends itself to the potential for additional lodes in the immediate area including the roughly 1km untested zone between the Central and Eastern Zones and along strike as well as north and south.

The Western Zone currently hosts a resource of 415,000t grading 2.6g/t gold, 0.4% copper, 76.9g/t silver and 0.2% antimony and was previously explored for gold.

Recent rock chip sampling from an outcropping breccia ridge 200m along strike returned a rich assay of 48.7g/t gold, 6.6% copper, 6.61% antimony and 2,170g/t silver.

The gold-dominated Central Zone has a resource of 532,000t at 1.4g/t gold contained within flat lying shallow veins and is open at depth and to the east.

Meanwhile, previous mapping at the Eastern Zone identified the Taipan, Dugite, Gwadar and Tiger lodes which are all sub-parallel to mapped stratigraphy.

Only the southern Taipan lode has been drilled and hosts a current resource of 790,000t at 1.7% antimony, 2.4% lead and 17g/t silver.

Black Cat plans to carry out further drilling in the first half of 2023.




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.