Black Cat Syndicate Limited (ASX:BC8) continues to have underground diamond drilling success along the Gabbro Veins at the wholly-owned Paulsens Gold Operation in Western Australia.
Assays from an additional 15 diamond holes targeting the Gabbro Veins and shear-hosted mineralization continue to demonstrate immediate upside to the high-grade Paulsens Underground Resource of 258koz @10.8g/t Au.
Significant results include:
* 2.00m @39.90g/t Au from 18.75m; and 1.03m @17.80g/t Au from 51.12m (22PGRD038)
* 1.23m @14.84g/t Au from 28.68m; and 1.55m @6.14g/t Au from 60.68m; and
0.86m @58.50g/t Au from 102.14m (22PGRD004)
* 0.80m @32.20g/t Au from 17.73m; and 0.56m @13.90g/t Au from 58.74m (22PGRD025)
* 0.79m @13.60g/t Au from 42.40m (22PGRD039)
- The Gabbro Veins are unmined and located adjacent to, and up to 200m from, the existing decline which was installed to access the Main Lode.
- The Gabbro Veins occur in the footwall over a 1km plunge length and can form as swarms over areas up to 4.0m wide. They represent a potential new, high-priority, start-up mining area.
- Drilling of near mine targets is ongoing, targeting both the Gabbro Veins and shear-hosted veins in the upper areas of the mine. A second underground diamond rig will arrive this week to expedite both near mine Resource growth and discovery drilling.
- Engineering and mining studies are underway to support a potential restart decision in mid-2023.
“The Gabbro Veins continue to deliver impressive grades often with multiple veins intersected in each hole,” Managing Director, Gareth Solly, said.
“A second rig will arrive this week as we ramp up drilling in the lead up to a restart decision. The Gabbro Veins represent a potential new mining front and host one third of the underground Resource which recently increased to 258koz @10.8g/t Au, based on results to the end of December 2022.
“Along with Coyote Central this is one of Australia’s highest grade gold deposits. A further two months of drilling has been completed since then and will continue throughout 2023, focussed on Resource growth and discoveries around existing underground infrastructure. The next Resource update is planned for May 2023.”
For further information please visit: https://bc8.com.au/