en.Wedoany.com Reported - Black Cat Syndicate Ltd (ASX:BC8) has discovered two high-grade gold zones at the Paulsens gold operation in Western Australia. These new veins, located outside the historical mining footprint, present new near-mine growth opportunities.
Underground drilling and development have delineated multiple mineralized lenses in the newly discovered Lynx and Regulus veins. At the Lynx vein, an intersection of 4.8 meters returned 18.8 g/t gold, while the Regulus vein intersected 3.7 meters at 40.3 g/t gold. Another drill hole at the Regulus vein returned 1.1 meters at 69.6 g/t gold.
These discoveries have also established a new exploration model, which Black Cat believes could help unlock further high-grade mineralization within the broader Paulsens system.
The Lynx vein represents a previously unrecognized mineralization type in the upper levels of the mine, with a structural orientation distinctly different from the dominant Paulsens mineralized trend. The vein has been defined over a strike length exceeding 200 meters and a vertical depth of 260 meters, remaining open along dip. Surface drilling is underway to test whether mineralization extends near the surface. Underground development has confirmed ore continuity, with an 88-meter ore drive producing 4,737 tonnes of ore at 3.0 g/t gold, which has been processed by the mill.
The Regulus vein is located in the hanging wall of previously mined areas and has been delineated over a 180-meter strike length and 40-meter vertical extent. Development ore from a 66-meter drive at Regulus, after reconciliation, yielded 4,900 tonnes of ore at 9.7 g/t gold, containing 1,528 ounces of gold. This provides confidence in converting drill results into mineable ore.
Black Cat Managing Director James Bruce stated that these results demonstrate Paulsens remains a high-grade gold system. "The discoveries at Lynx and Regulus, along with the potential at Belvedere, confirm that Paulsens is a larger and more dynamic high-grade system than previously thought, warranting further investment."
The Paulsens gold operation produced its first gold bars in December 2024 after the mill was refurbished and restarted. Since then, Black Cat has produced over 40,000 ounces of gold and recouped acquisition costs and all subsequent capital investments within 18 months of operation. Notably, approximately 40% of the gold produced came from outside existing mineral resources, demonstrating the potential to extend mine life through ongoing exploration.
The company is also advancing the Belvedere project, located approximately 5 kilometers from the Paulsens mill. Belvedere hosts a resource of 30,000 ounces at 6.6 g/t gold within a 2.5-kilometer-long fault structure, remaining open along strike and at depth. Black Cat plans to conduct resource growth drilling by the end of 2026. Development of other prospects, such as Grey Goose and Haku, provides further opportunities to establish near-mine ore sources to support long-term production.
Black Cat Syndicate is an Australian gold producer and explorer with three wholly owned operating projects in Western Australia: Paulsens, Coyote, and Kal East. The company holds a total gold resource of approximately 2.52 million ounces, with the Paulsens resource comprising 506,000 ounces at an average grade of 5.1 g/t gold.
