Catalyst Metals (ASX:CYL)
Reported drilling results at the Trident Gold Project, located on the Plutonic Gold Belt.
Step out drilling has intersected mineralisation 430m along strike and 600m
below the existing Resource indicating the mineralisation footprint of the
deposit is bigger than anticipated.
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Catalyst Metals Mining, courtesy of Catalyst Metals
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| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$1.1 Billion @ A$4.87 | |
| Location | Murchison, Western Australia | |
| Website | https://catalystmetals.com.au |
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Catalyst Metal’s Trident Drilling Extends Mineralisation Footprint
Step out drilling confirms mineralisation extends at depth with potentially repeating higher grade lodes
Catalyst Metals Limited (ASX:CYL) (Catalyst or the Company) is pleased to report drilling results at the Trident Gold Project, located on the Plutonic Gold Belt.
Highlights
• Recent drilling at the Trident Project has returned a number of favourable intercepts that, should they continue, and subject to further drilling, have the potential to significantly extend the mine’s life.
• The Trident Project is an undeveloped gold deposit within the Plutonic Belt; it lies 30km north-east of the underutilised Plutonic processing plant
• It currently has an underground gold Resource and Reserve of 508koz @ 3.7 g/t (2023) and 182koz @ 4.7 g/t (2024) respectively
• Catalyst consolidated the Plutonic Gold Belt in 2023 as it was attracted to the exploration the belt offered. Unfortunately, as part of the consolidation, it inherited a poor balance sheet limiting its ability to explore. As Catalyst’s balance sheet strengthened during 2024, it increased exploration expenditure
• In January 2025, Catalyst committed to 320km of drilling across the Plutonic Belt over the next 12 months. This included a program at Trident targeting inferred Resource
conversion and step out extensions
o Step out drilling has intersected mineralisation 430m along strike and 600m
below the existing Resource indicating the mineralisation footprint of the
deposit is bigger than anticipated
o Resource conversion drilling results suggest the higher-grade lodes are
repeating at depth. Tighter spaced resource conversion drilling has returned
intercepts relatively close to one another and within the previously lower grade
inferred Resource
• While our investigations are early, and further surface drilling is required, the higher
grade clusters at depth, where we haven’t seen them before, is interesting.
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• Drill results of note received to date are as follows:
o 8.9m at 9.8 g/t Au o 13m at 4.5 g/t Au
o 11m at 7.5 g/t Au o 2m at 24.1 g/t Au
o 8.5m at 9.5 g/t Au o 5m at 9.2 g/t Au
o 11.5m at 5.6 g/t Au o 11m at 3.7g/t Au
o 4.6m at 9.4 g/t Au o 13m at 2.5 g/t Au
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Capital Structure
Shares o/s: 226m
Options: 3.1m
Rights: 12.3m
Cash & Bullion: A$84m
Debt: nil
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Reserve and Resource1,2
MRE: 3.4Moz at 2.9g/t Au
ORE: 1.0Moz at 3.0g/t Au
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Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
“Trident can be drilled from surface. As can much of the Plutonic Belt. That is a considerable advantage for both cost and time value of money reasons.
“The drilling at Trident to date has delivered some interesting results. The current gold Resource is 508koz, the second largest on the belt.
“This drilling has sought two things: deeper drilling to expand the known mineralised footprint and to infill inferred Resources to indicated with the hope of expanding Reserves.
“The deposit is unconstrained by drilling at depth. The deeper, 1km, step out holes we have drilled – ie. 600m below the current Resource – suggest the system is still alive at 1,300m down dip, more than twice the depth of the current Resource.
“The closer spaced Resource definition program has intersected a number of higher-grade hits. This could be unveiling higher grade repeatable lodes. Our understanding of this will continue to evolve with further drilling.
Much is still unknown about Trident. Further drilling will unveil more. But we like what this project represents – a low capital intensity near term brownfield development opportunity with the potential to add material value to Catalyst should the gold Resource expand beyond the current estimate of 500,000 ounces”
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To read the full news release please click HERE
The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Catalyst Metals.
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