Black Cat’s side hustle at Paulsens shows there could be a lot more to the project than meets the eye
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Black Cat has shown that it can walk and chew gum by outlining a series of exciting new gold, antimony and base metal exploration targets at Paulsens while it progresses the main game of bringing the gold operation back into production.
Black Cat has been building the base metal and antimony potential at Paulsens through its low cost exploration work and it took another step forward with the revelation of new targets at High Noon, Goldilocks and Mt Clement.
Regional soil sampling identified the 1.2km by 300m High Noon copper-lead-zinc anomaly and the 1km long Goldilocks gold anomaly about 15km southeast of the existing Paulsens processing facility.
Meanwhile, auger sampling by Black Cat Syndicate (ASX:BC8) at the Mt Clement tenement identified a 1.5km by 500m coincident antimony and gold anomaly to the north and east of the Central and Western Zone Resource area.
Notably, the antimony anomaly is about three times larger than the anomaly associated with the Eastern Zone Resource area at Mt Clement which is already Australia’s third largest and second highest grade antimony resource.
“Our ongoing low cost regional exploration on the Wyloo Dome and in the Ashburton Basin continues to highlight the untested potential around Paulsens,” managing director Gareth Solly said.
“Large scale, multi-commodity targets open the possibility of delineating larger base metal and antimony resources within trucking distance of Paulsens which is the only fully permitted processing facility within the region.
“These opportunities highlight the longer-term potential to build a significant mining inventory at Paulsens.”
The regional exploration is being carried out in parallel with underground diamond drilling focused on near-mine resource extensions and mining studies to support an operational restart decision in the middle of the year.
To support its gold focus, the company also revealed potentially the most interesting development in the pegging of additional tenure in the Ashburton Basin southeast of Paulsens which includes the historical Big Sarah gold mine.
Big Sarah produced about 220,000oz at a very high average grade of 52.6 grams per tonne (g/t) gold before 1940. The workings sit within an undrilled soil anomaly that has a strike length of about 4km and has historical rock chip samples of up to 50.6g/t gold.
As many market watchers know, there have been many examples of large deposits sitting below historic workings which have not been effectively tested – Paulsens itself is a good example and Bellevue Gold’s 3.1 million ounces shows what can happen in the dream scenario.
Black Cat intends to conduct an initial phase of RC drilling of its priority regional exploration targets between September and December this year.
In the meantime, soil sampling work will continue testing the regional prospectivity of Paulsens. Infill soil sampling is currently underway at Goldilocks and will move to High Noon to determine if it connects with a 1,000m long, plus 200ppm copper-lead-zinc anomaly along strike to the northeast.
The company also plans to carry out detailed mapping and sampling over Mt Clement in late June to refine drill targets.
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.