Highlights

  • Three diamond drill holes intersected veining consistent with seismic interpretation at Paulsens West.
  • Assays returned no significant gold results but validated the 3D seismic geological model.
  • Further drilling planned to test up-plunge and along-strike targets for potential mineralisation.

Black Cat Syndicate Limited (ASX:BC8) has reported results from drilling at its 100%-owned Paulsens Gold Operation in Western Australia, confirming the accuracy of its 3D seismic interpretation despite the absence of significant gold grades.

The program included two diamond drill holes and one wedge hole totalling 3,805 metres at the Paulsens West target. All holes intersected quartz-carbonate veining within a broad shear zone, consistent with the seismic model. The drilling was partly co-funded through the Government of Western Australia’s Exploration Incentive Scheme.

Assay results from all holes did not return significant gold intercepts. However, the geological structures and veining observed matched features typical of the Paulsens Main Zone system, located approximately 600 metres southwest of the current mine.

Geological Confidence Strengthened by Seismic Correlation

According to the company, the correlation between the interpreted shear zone and veined gabbro supports the seismic model and enhances confidence in future targeting. The Paulsens West target lies about 800 metres below surface, equivalent to mid-mine depth, and is characterised by an abrupt break in seismic reflectivity interpreted as a fault zone.

The company stated that although the lack of mineralisation in the initial holes is not conclusive, the nuggety nature of gold at Paulsens suggests additional drilling is required before ruling out mineral potential within the structure.

Black Cat’s Managing Director, Gareth Solly, said:
“While we would have preferred to intersect gold mineralisation in the first three holes at Paulsens West, we are still encouraged that the drilling has validated our interpretation of the 3D seismic data and we have hit critical ingredients for another Paulsens-style system. We are now using the information gained from this program to refine where the ‘sweet spot’ is in the structure.”

Next Steps and Ongoing Exploration

Additional drilling is being designed to test the structural corridor shallower up plunge and along strike to identify potential gold-bearing zones. The company’s ongoing activities also include underground drilling at Paulsens and antimony exploration at Mt Clement, with metallurgical test work scheduled through March 2026.

Share performance of BC8

BC8’s shares traded at AUD 0.927 per share on 04 November 2025, down by 3.385% from its previous close of AUD 0.960.