Catalyst Metals (ASX: CYL)
Has been granted approval of its Works Plan for the exploration tunnel at its Four Eagles “Boyd’s Dam” gold JV project in Victoria.
Catalyst has been gradually putting together the key elements needed to demonstrate a realistic and commercially viable gold project at Four Eagles.
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Catalyst Metals Victoria state JV project area – Credit Catalyst Metals
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| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$2.1 Billion @ A8.22 | |
| Location | Murchison, Victoria, Australia | |
| Website | www.catalystmetals.com.au |
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Catalyst advances Victorian portfolio with exploration tunnel approval at Four Eagles
Pieces now assembled for a tangible operation
Catalyst Metals Limited (ASX:CYL) (Catalyst or the Company)is pleased to announce it has been granted approval of its Works Plan for the exploration tunnel at its Joint Ventured Four Eagles “Boyd’s Dam” gold project in Victoria.
Over the last few years Catalyst has been gradually putting together the key elements needed to demonstrate a realistic and commercially viable gold project at Four Eagles.
While the project’s location once raised questions about its long-term potential, those concerns have now been largely addressed.
Three years ago, the Four Eagles Gold Project comprised a series of encouraging drilling results within a large 75km land package that lies immediately along strike of the famed 20Moz Bendigo Goldfield.
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Since then, Catalyst has:
1. Delineated a high-grade gold Resource of 70,000oz at 26.2 g/t gold within a
broader Resource of 163,000oz at 7.7 g/t;
2. Secured a processing facility together with the associated permits and
infrastructure; and now
3. Received approval to construct an exploration decline, marking an important step toward gaining underground access for further geological understanding.
Together these achievements help articulate a clear framework for assessing the project’s pathway towards future production. Importantly, Catalyst has achieved this progress with minimal capital outlay.
As operator of the joint venture, Catalyst’s next objective is to expand the high-grade resource already delineated.
Historical drilling results that lie outside the current Resource, and that require further
follow up drilling, include:
o 5.0m @ 13.1g/t o 6.0m @ 82.7g/t o 3.0m @ 9.7g/t
o 1.0m @ 5.4g/t o 0.4m @ 152g/t o 1.0m @ 43.5g/t
o 3.0m @ 2.5g/t o 8.0m @ 4.0g/t o 1.0m @ 7.3g/t
Catalyst’ joint venture partner, Hancock Prospecting Pty Ltd continues to support the joint venture with the long partnership not only building a meaningful economic asset for the state of Victoria but also to a remote Victorian community.
To read the full news release, please click HERE
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To View Catalyst Metals latest share price and chart, please click HERE
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Disclosure
At the time of writing the author holds shares in Catalyst Metals.
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