Catalyst Metals (ASX: CYL)
Reported drilling results at the Trident deposit, located on the Plutonic Gold Belt.
Results from the most recent drilling have been focussed on Resource infill drilling and extension drilling at the edges of the current Resource.
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Plutonic Gold Mine at night – Courtesy of Catalyst Metals Ltd.
| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$1.42 Billion @ A$5.45 | |
| Location | Murchison, Victoria, Australia | |
| Website | www.catalystmetals.com.au |
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Drilling at Trident continues to extend mineralisation – Potential for Trident Resource to continue to grow
Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to report drilling results at the Trident deposit, located on the Plutonic Gold Belt.
Results from the most recent drilling have been focussed on Resource infill drilling and
extension drilling at the edges of the current Resource. Many of these intercepts lay outside of the Resource envelope, indicating the potential for Trident Resource to continue to grow.
Catalyst Metals’ flagship asset is the 40km long Plutonic Gold Belt in Western Australia.
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Highlights
• Trident is an underground deposit located 30km north-east of the underutilised Plutonic processing plant
• It is the largest of the five mines to be developed as part of Catalyst’s plan to increase
annual gold production at Plutonic from ±100koz to ±200koz
• Drilling at Trident has continued while exploration activities at the nearby Old Highway,
Cinnamon and K2 deposits ramped up in an attempt to continue building out the Plutonic Belt’s mine life
• Exploration at Trident has continued to be successful. The drilling that has occurred has targeted conversion of the Inferred Resourced and testing extensions of the known
mineralisation
• Below are the results of recent drilling program targets:
o 7m at 40.5g/t Au o 8m at 12.4g/t Au o 6m at 12.2g/t Au
o 17m at 15.4g/t Au o 7m at 14.4g/t Au o 3m at 23.2g/t Au
o 9m at 22.1g/t Au o 6m at 15.8g/t Au o 10m at 6.8g/t Au
o 14m at 9.2g/t Au o 7m at 11.7g/t Au o 4m at 13.9g/t Au
o 21m at 5.1g/t Au o 10m at 7.8g/t Au o 11m at 5.5g/t Au
• Mining of a small open pit, from which the underground decline will be established, was recently completed
• The projects team has begun establishing the portal with the underground decline to
commence once the portal is established
• Trident was the focus of a substantial drilling program during 2025. In August 2025,
Catalyst provided an update of this program which included a doubling of Reserves to
397koz at 5.3g/t Au and a significant increase in Resources to 795koz at 5.0g/t
• With these attractive intercepts well outside the Trident Resource envelope, the visibility
to a +10 year mine life at ±60koz per annum grows clearer
• Once the mine is established, a further drill program will be completed to fill out the tail
end of this +10 year plan
• Exploration focus has turned to growing mine lives at other deposits such as Old Highway,
K2 and more recently Cinnamon, in an effort for Catalyst to diversify into as many ore
sources as possible – a strategy it believes is key to its longer term business plan.
This belt currently produces ~100koz pa at an AISC of ±A$2,300/oz from three mines at Plutonic, Plutonic East and Trident open pit.
Catalyst is currently bringing three new mines into production – Trident UG, Old Highway and Cinnamon.
Each will be processed through the existing, underutilised and centrally located 2Mtpa CIL processing plant.
Exploration is targeting down dip extensions of each of these deposits. With the development and exploration of these five deposits, Catalyst aims to increase Reserves and production from 1.5Moz to ±2Moz and ±100koz to ±200koz annually.
In so doing, Catalyst is aiming for Plutonic to have a 10 year mine life – a unique and rare proposition for an underground Western Australian gold mine.
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Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
“The drilling programs at Trident have delivered a Resource base which will underwrite a 10 year mine plan at ±60koz per annum. In time, we expect continued drilling will convert this Resource base into Reserves.
“Catalyst’s business plan is to have multiple ore sources to feed the Plutonic processing plant for the reason that by doing so, Plutonic becomes a more stable, long term, lower cost operating centre able to provide sustained exposure to gold.
“To achieve this, and to build out inventory from multiple different sources, drilling at other prospects like Cinnamon, Old Highway and K2 become very important.
“Accordingly, these projects are consuming exploration resources now that Trident has such an established mine life. Once Trident is up and running, we will return and fill in the drilling at depth to further extend its life.”
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