Black Cat keeps the underground gold hits coming at Paulsens
Black Cat has got its claws into further high-grade gold hits outside the current Gabbro Veins underground resource, further highlighting the growth potential of its Paulsens Gold Operations.
Extensional and discovery drilling up plunge of previous drilling returned intercepts such as 0.56m grading 35.3 grams per tonne (g/t) gold from 64.87m within a broader 1.96m zone at 5.71g/t gold from 61.47m, 0.9m at 9.32g/t gold from 59.3m and 0.32m at 62g/t gold from 47.24m.
Drilling is ongoing at Paulsens with Black Cat Syndicate (ASX:BC8) operating two underground rigs in preparation for a resource update in May 2023.
“More extensional results from the footwall Gabbro Veins highlight their extensive and high-grade nature,” managing director Gareth Solly said.
“The Gabbro Veins represent an untested opportunity at Paulsens with strong near-term mining potential, being located adjacent to the existing decline. The current Resource is already robust at 259k oz at 10.7 g/t gold (56% Measured & Indicated).
“With two underground diamond rigs now operating and accelerating results, we are excited about the growth potential of the high-grade underground Resource at Paulsens. Engineering and mining studies are progressing well.”
The latest results follow on previous underground drilling results such as 3.42m at 16.21g/t gold from 69.7m and 1.88m at 21.77g/t gold from 95.87m.
With further drilling underway to test readily accessible Resource growth opportunities such as the Gabbro Veins, Quartz Zone and numerous other near-mine targets, it is not unreasonable to think that the coming resource update would be incredibly positive.
Engineering and mining studies are also underway to support a potential restart decision in mid-2023 while the 7km long decline is fully dewatered and provides ready access to the Gabbro Veins and other mining areas.
With Paulsens already host to well-maintained 450,000tpa mill and camp infrastructure that has been on care and maintenance in recent years, a restart of the project is looking increasingly likely.
Highlighting the company’s belief in the project’s return to production, it has appointed experienced mining engineer and mine manager Mark Davies, who has managed similar high-grade, narrow-vein underground gold operations in Western Australia, as the general manager of its Paulsens gold operations.
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.