Catalyst Metals (ASX: CYL)
Has acquired the remaining 49% interest in the Tandarra Gold Project for an upfront A$1.3 million cash payment, which settles the legal case.
The Tandarra Gold Project lies immediately south of Catalyst’s high-grade Four Eagles Gold Project.
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Catalyst Metals Bendigo JV project area – Credit Catalyst Metals
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| Capricorn Metals | ASX: CMM | |
| Stage | Production, development, exploration | |
| Metals | Gold | |
| Market cap | A$6.22 Billion @A$14.41 | |
| Location | Western Australia | |
| Website | www.capmetals.com.au |
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JV Partner agrees to settle legal case with Catalyst via selling its 49% interest in
Tandarra Gold Project for A$1.3m
Tandarra is contiguous to Catalyst’s high-grade Four Eagles JV in Victoria
Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) has acquired the remaining 49% interest in the Tandarra Gold Project for an upfront A$1.3 million cash payment, which settles the legal case.
The Tandarra Gold Project lies immediately south of Catalyst’s high-grade Four Eagles Gold Project.
Prior to the transaction, Catalyst held 51% of Tandarra. With this transaction, Catalyst simplifies the future management and direction of Catalyst’s Victorian gold assets, including the Four Eagles gold project.
The reason Catalyst sought to acquire this minority 49% interest is that Tandarra is home to several attractive prospects: Lawry, Tomorrow and Macnaughtan and Tandarra North.
These prospects lie along strike of Catalyst’s Four Eagles Gold Project (163koz Resource at 7.7 g/t incl. 70koz at 26 g/t3).
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These prospects have previously returned attractive results,
including:
o 12.9m @ 31.1g/t4 o 3m @13.8 g/t7 o 17m @ 6.6g/t6
o 2.45m @54.8 g/t5 o 11.0m @ 17.8g/t6 o 9m @ 14.8g/t7
o 21m @ 6.9 g/t6 o 3m @ 44.6g/t8 o 13.0m @7.75g/t5
Furthermore, Agnico Eagle, one of the world’s largest gold miners, recently acquired ASX listed S2 Resources’ exploration licence EL007795 for A$20 million, demonstrating Agnico’s commitment to investing in Victoria, and the future view of the perspectivity and desire to consolidate areas around its Fosterville Gold Mine.
This tenement does not contain a Resource and lies approximately 50km from Catalyst’s Four Eagles Gold Project.
The Four Eagles and Tandarra gold projects in Victoria were Catalyst’s founding assets. In 2022, a strategic decision was made to build a gold business not so dependent on the highs and lows of Victorian gold exploration.
This resulted in Catalyst’s move to consolidate Western Australia’s Plutonic Gold Belt in 2023. However, the underlying value was neither forgotten nor lost. Rather, management’s strategy turned to small, slow, low-cost steps to de-risk the overall investment proposition.
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