BLACK CAT EXPANDS DRILLING AT PAULSENS GOLD OPERATION

Intensive Exploration Efforts at Belvedere and Apollo Show Promising Results

Black Cat Syndicate Limited (ASX: BC8) has reported significant progress in its surface exploration activities at the 100% owned Paulsens Gold Operation (“Paulsens”). The initial 13-hole RC drilling program at Belvedere, targeting quartz-vein hosted gold along a ~500m section of the >2.5km Belvedere Fault, has intersected notable quartz veining in 10 holes, confirming the new geological model. Following these positive outcomes, the Belvedere drill program has been extended by 10 additional RC holes.

Additionally, a 9-hole drilling program at Apollo aimed at exploring extensions to the current Apollo Resource has been completed. This drilling has also intersected quartz veining as predicted, further validating the new geological model. The RC drilling rig is now engaged in a 9-hole program at the unexplored Pantera Cu-Au target. Assay results from these extensive drilling programs are expected from early December 2023.

Gareth Solly, Black Cat’s Managing Director, commented on the exploration’s progress:

This is the first surface drilling program at Paulsens in a long time. Based on the observations to date, and to make the most of the remaining drill season, we are happy to extend the current program. Our focus will be on Belvedere where a mine has already been justified and there is significant blue-sky potential. Apollo also presents as a strong near-mine opportunity. As recognized by our recent large JORC Exploration Target, discovery drilling around Paulsens at targets like Pantera and the Eastern Zone is also warranted. Results should start to become available in early December 2023. These are awaited with great interest and will be used in the 2024 planning process.

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