Catalyst Metals (ASX: CYL)
Reported positive drilling results from the Old Highway gold deposit, located 40km south of the Plutonic Belt.
The results are from a drilling program targeting extensions of mineralisation outside of the Resource envelope.
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Plutonic gold mine – Courtesy of Catalyst Metals
Drilling at Old Highway gold deposit demonstrates growth potential at depth
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Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to report drilling results from the Old Highway gold deposit, located 40km south of the Plutonic Belt.
The results are from a drilling program targeting extensions of mineralisation outside of the Resource envelope.
Highlights
26m at 5.9g/t Au, 300m below the existing Resource encourages
further exploration
• Old Highway is an undeveloped gold project located 40km south-west of the underutilised Plutonic processing plant, along the Great Northern Highway
• It sits on existing mining leases and has a Resource (underground and open pit) of 206koz at 3.0 g/t Au, including a higher-grade underground component of 140koz at 4.6 g/t gold
• A Reserve of 140koz at 3.2 g/t Au underpins a four-year mine life at annual steady state gold production of 35kozpa3
• In late 2025, drill rigs were mobilised to Old Highway with a view to growing the Resource and extending mine life beyond the initial four years
• Much of the historical drilling at Old Highway has been shallow (less than 200m). Drilling at depth by Catalyst has returned a number of high-grade assays which indicate the potential for the deposit to grow
• Results include:
o 26m at 5.9g/t Au o 8m at 10.5g/t Au o 22m at 3.1g/t Au
o 21m at 3.2g/t Au o 30m at 2.2g/t Au o 10m at 5.3g/t Au
o 3m at 16.7g/t Au o 5.5m at 5.2g/t Au o 14m at 3.0g/t Au
• Old Highway will be the fifth deposit to be developed by Catalyst in its plan to grow gold production from ±100koz pa to ±200koz pa
• The development plan will mirror Catalyst’s Trident development – a small, self-funded
open pit followed by a longer life, high-grade underground mine – giving Catalyst
confidence in reducing future development risk
• Catalyst is currently progressing approvals in line with its expected timeline
Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
“Plutonic is a very large mineral system.
“Catalyst is investing the money to daylight the historically high-grade deposits that have laid neglected through many years of foreign distracted owners.”
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Disclosure
At the time of writing the author holds shares in Catalyst Metals
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