The agreements relate to modernising the existing native title and heritage protection agreements at the Paulsens Gold Operation ('Paulsens') which were originally established in 2002.
HIGHLIGHTS
Approximately 85% of current gold Resources at Paulsens, including the existing underground mine, are located on
land under the traditional ownership of the PKKP.
Black Cat and the PKKP have established a strong relationship after completing a comprehensive review to update
and modernise the native title and heritage protection agreements to incorporate the PKKP's new co-management principles.
The agreements form the basis for the co-management of cultural heritage at Paulsens with the PKKP. Tangible benefits will accrue to the PKKP in the form of employment, training, business opportunities and compensation following a resumption of gold production at Paulsens.
By strengthening the relationship with the PKKP, Black Cat takes another step towards the potential establishment of a long life operation at Paulsens and the commencement of regional drilling programs. The PKKP are highly supportive of a resumption of operations at Paulsens given the strong cultural heritage protections embedded in the agreements and the regional opportunities that arise.
The study to support a potential decision to restart mining operations is on track for completion in mid-2023.
Black Cat's Managing Director
Summary of New Arrangements
The parties have worked in a collegiate manner to update and modernise their relationship via a comprehensive review and update of the existing native title and heritage protection agreements. The new arrangements are documented in three agreements that provide significant benefits to both parties by aligning their respective interests. This will bring substantial direct and indirect benefits to the communities in the Pilbara region in which Paulsens is located. The agreements incorporate the adoption of the PKKP's co-management model for cultural heritage protection for the first time. The co-management model covers the impact of mining operations on PKKP traditional land. The arrangements adopt best practice heritage protection protocols through a framework of informed engagement and consultation. PKKP will have an active role in managing cultural and environmental impacts of future operations at Paulsens and will have input into the design of activities in order to preserve cultural heritage. The agreements provide a clear pathway forward for both parties to manage their respective obligations ahead of the new WA Aboriginal Cultural Heritage Act with the parties acting together and using best practice protocols. In addition to the protection of cultural heritage, the PKKP will immediately become a shareholder in Black Cat through the issue of 312,000 shares. A further 312,0000 shares will be issued to the PKKP following the commencement of commercial gold production at Paulsens. The PKKP are highly supportive of a resumption of operations at Paulsens given the strong cultural heritage protections embedded in the agreements and the regional opportunities that arise. Black Cat has also committed to a broad range of community benefits including cultural awareness training, skills training, employment and business opportunities and compensation. Studies to support a potential restart decision at Paulsens are well advanced, with a decision expected in mid-2023. Black Cat's first regional drilling program at Paulsens is also expected to commence in the second half of 2023.
Contact:
Tel: +61 458 007 713
ABOUT
Key pillars are in place for Black Cat to become a multi operation gold producer at its three 100% owned operations. The three operations are: Paulsens Gold Operation: Paulsens is located 180km west of Paraburdoo in WA. Paulsens consists of an underground mine, 450,000tpa processing facility, +110 person camp, numerous potential open pits and other related infrastructure. The operation is currently on care and maintenance, has a Resource of 4.0Mt @ 3.6g/t Au for 465koz and significant exploration and growth potential. Coyote Gold Operation: Coyote is located in
COMPETENT PERSON'S STATEMENT
The Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the form and context in which the Competent Person's findings are presented have not been materially modified from the original reports. Where the Company refers to the exploration results, Mineral Resources, and Reserves in this report (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource and Reserve estimates with that announcement continue to apply and have not materially changed.
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