| Announcement Date: | 2022-11-14 |
|---|---|
| Announcement Type: | Exploration Update |
| Announcement Code: | JORC |
| Company name: | Black Cat Syndicate Ltd. |
| Project name: | Paulsens |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling will continue infilling the Gabbro Veins over a ~600m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Black Cat Syndicate Limited (“Black Cat” or “the Company”) is pleased to provide an update on underground diamond drilling into the Gabbro Veins at the Paulsens Gold Operation (“Paulsens”). HIGHLIGHTS • The Gabbro Veins are in the footwall of the Paulsens decline and are readily accessible for potential mining restart. Gabbro Vein mineralisation has been intersected in historical drilling along ~1km of strike length and this mineralised system represents a potential long-term feed source. • The first six diamond drillholes have been completed into the Gabbro Veins. All holes successfully intersected wide quartz veins (up to 2m wide) in the interpreted positions with assays for all holes expected in December 2022. • Visible gold was intersected in three drillholes (22PGRD010, 22PGRD012 and PGRD019) hosted in both thick quartz veins and narrow shears within the gabbro. • All six holes infilled historic high-grade intercepts for Resource upgrades. One hole (22PGRD019) intersected quartz veins south of the existing workings and the other five infilled gaps proximal to the existing workings. • Paulsens has a well-maintained processing facility requiring low restart capital. The established mine infrastructure adjacent to the Gabbro Veins makes the intersection of these wide quartz veins a significant step forward for restart planning. • Drilling will continue infilling the Gabbro Veins over a ~600m strike length before moving to the first holes testing the Paulsens Repeat target later in November 2022 |
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