Black Cat is building speed towards a gold resource upgrade at Paulsens
Black Cat can expect more resource growth at its Paulsens operation after drilling continued to intersect multiple mineralised veins with double digit gold grades outside the current resource envelope.
Assays such as 0.55m grading 73 grams per tonne (g/t) gold from 98.48m, 1.64m at 10.23g/t gold from 42.36m and 0.55m at 36.2g/t gold from 37.3m certainly indicate that the current underground resource of 258,000oz at 10.8g/t gold is due for a decent uptick that will also unlock more mining opportunities.
Further highlighting these conclusions, Black Cat Syndicate (ASX:BC8) noted that the recent results illustrate the grade and geological continuity of the target Gabbro Veins along a 1,200m plunge length and indicate that many of the veins remain open along strike.
All good news ahead of the company’s restart decision that will leverage the existing infrastructure that includes a well-maintained 450,000tpa mill which is currently on care and maintenance.
“In February 2023 the Gabbro Veins high-grade Resource increased by 500% to 68koz at 11.9g/t Au after only two months of drilling. Continued drilling success since this time indicates strong potential for further growth in this exciting near-mine resource,” managing director Gareth Solly said.
“The Gabbro Veins represent a potential new mining area for Paulsens with 7km of decline allowing ready and rapid access.
“An update of the Resource will be completed this month and form the basis of a ‘Restart Study’ and our subsequent mid-year decision regarding a restart of the operation.”
Current drilling at Paulsens is focussed on extending the strike extent of mineralisation and discovering additional veins into the Paulsens Mine Gabbro.
Black Cat also expects to deliver an updated resource later this month that includes all recent results.
Additionally, engineering and mining studies are advancing as part of the overall Restart Study to support the restart decision.
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.