Black Cat Strikes High-Grade Gold and Advances Development at Paulsens

Drilling Success at Paulsens

Black Cat Syndicate Limited (ASX: BC8) has provided a detailed update on its underground drilling and development activities at the Paulsens Gold Operation, located approximately 180km west of Paraburdoo in Western Australia. Since commencing underground drilling in February 2025, the company has completed 45 drill holes totaling 9,168 metres, focusing primarily on the Gabbro Veins, a previously undeveloped zone hosting an 86,000-ounce resource at an impressive grade of 11.9 grams per tonne of gold.

Initial assay results from the drilling program have revealed multiple high-grade gold intercepts, including standout hits such as 1.22 metres at 11.96 g/t Au and 0.50 metres at 122 g/t Au. These results align well with Black Cat’s mine plan and support the company’s strategy to optimise mine development and resource growth in this area.

Development Ahead of Plan

Alongside drilling, underground development in the Gabbro Veins has progressed rapidly, with approximately 240 metres of new drives completed. This development is ahead of schedule and has revealed well-formed vein structures across multiple drives, reinforcing the geological model and providing confidence in the continuity of mineralisation. Mining activities have already commenced in this zone, marking a significant milestone in Black Cat’s production ramp-up at Paulsens.

Broader Exploration and Production Outlook

Looking ahead, Black Cat plans to initiate surface drilling at the Paulsens West Seismic Target in early June 2025, supported by co-funding from the Exploration Incentive Scheme. This exploration effort aims to identify further extensions of mineralisation and new targets in the region. Concurrently, mining continues at other company assets, including the Myhree and Boundary open pits within the Kal East project, and ongoing exploration at the Coyote and Mt Clement projects.

Managing Director Gareth Solly emphasised the significance of these developments, stating that the drilling results and underground progress are delivering on the company’s “more gold, sooner” strategy. The consistent assay results and ahead-of-plan development underscore Black Cat’s operational momentum as it advances towards full production at Paulsens during 2025.

Maintaining Resource Integrity

Black Cat confirmed that there have been no material changes to previously reported Mineral Resource and Ore Reserve estimates. The company continues to adhere to rigorous sampling, assay, and reporting standards, with all significant results reviewed by qualified personnel. While assays for 36 of the 45 drilled holes are still pending, early indications suggest strong continuity of mineralisation in the targeted zones.