BLACK CAT EXPANDS PAULSENS PROJECT WITH STRATEGIC ACQUISITION

New Cu-Au Tenements Enhance Exploration Potential

Black Cat Syndicate Limited (“Black Cat”) has announced a significant acquisition, agreeing with Kingfisher Mining Ltd (ASX:KFM) to secure a 100% interest in five tenements. This expansion, covering approximately 700km^2, is strategically positioned between Black Cat’s Mt Clement and Paulsens projects, substantially enlarging the Paulsens Project to about 1,650km^2. This represents a 74% increase in tenure, consolidating a highly prospective region.

Key Aspects of the Acquisition:

  • Prospective Ground: The newly acquired tenements in the Ashburton Basin exhibit widespread Cu-Au surface mineralization with limited historical drilling.
  • Strategic Location: Positioned between the 100% owned Paulsens Gold Operation, Mt Clement Au-Ag-Sb deposit, and the historical Big Sarah gold mine, the expanded ground offers significant potential for exploration.
  • Areas of Interest: The tenements comprise two broad areas – the Southern AOI with high-grade copper and gold outcropping, and the Northern AOI with unexplored gold in soil anomalies near the Cheela Fault Zone.

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

The acquisition tenements offer significant synergies with the Au-Ag-Sb-Cu at Mt Clement. Our view is that base metals have been largely overlooked in this region and this acquisition, when completed, adds significantly to our base metal portfolio. The presence of outcropping high-grade copper within 10km of the Mt Clement Resource provides multiple opportunities. Additionally, new undrilled gold in soil anomalies within 15km of the Paulsens processing plant represent another attractive opportunity.

We look forward to incorporating these tenements into our regional work programs. Black Cat’s vision is to be the dominant player in three prolific gold districts and this acquisition marks another significant step in achieving that goal. Combined with our updated Restart Study for Paulsens, we are well-positioned to become the dominant player in the district and look forward to having the only operating gold processing facility within 400km once Paulsens is operational.

Read the full announcement

Goldman

Read Previous

WEEKLY GOLDEN TIDBITS

Read Next

VERTEX IDENTIFIES NEW HIGH-GRADE TARGETS AT HILL END