Black Cat Syndicate has entered into an agreement with Kingfisher Mining to acquire 100 per cent interest in five tenements covering about 700km2 in the Ashburton Basin, Western Australia.
The five tenements are located near Black Cat’s Mount Clement and Paulsens gold projects and will increase the overall tenure of the Paulsens project to 1650km2, or by about 74 per cent.
“The acquisition tenements offer significant synergies with the (gold-silver-antimony-copper) at Mt Clement,” Black Cat managing director Gareth Solly said.
“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 five tenements host widespread high-grade gold and copper surface mineralisation but have only seen limited drilling.
“The presence of outcropping high-grade copper within 10km of the Mt Clement resource provides multiple opportunities,” Solly said. “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.”
Solly said by combining this acquisition with Black Cat’s restart study for Paulsens, the company is in a good position to become the dominant gold mining company in the Pilbara region of WA.
“(We) look forward to having the only operating gold processing facility within 400km once Paulsens is operational,” he said.
Black Cat expects to complete its acquisition of the tenements in January 2024.
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