Catalyst Metals (ASX: CYL)
Reported drilling results at the Trident Gold Project, located on the Plutonic Gold Belt.
The Trident gold project is an undeveloped gold deposit within the Plutonic Belt; it lies
30km north-east of the underutilised Plutonic processing plant.
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Catalyst Metals Reports Positive Trident Drill Results
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Trident infill drilling results continue as expected while development gets
underway
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Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to report drilling results at the Trident Gold Project, located on the Plutonic Gold Belt.
Highlights
• The Trident gold project is an undeveloped gold deposit within the Plutonic Belt; it lies
30km north-east of the underutilised Plutonic processing plant
• Earlier this year, Catalyst received final approvals to commence developing Trident.
These works, and early expenditure requirements, have now commenced
• The deposit has an underground gold Resource and Reserve of 508koz @ 3.7 g/t (2023) and 182koz @ 4.7 g/t (2024);
Catalyst’s stated intention to expand these through various drilling programs
• Beginning earlier this year in February, and in anticipation of its development, Catalyst
began ramping up exploration spending at Trident; this expenditure has only continued
to increase during the quarter
• This set of infill drilling results from Trident is the second set of results, with the first
being released in late March; these results confirm the mineralisation is as expected
within the Resource
• 41 holes were drilled from surface targeting the inferred Resource lying at vertical
depths ranging from 200m to 350m from surface. These results suggest the potential to
convert inferred Resources to indicated category
• A further 10 holes were drilled targeting areas outside the Resource. Results of these
holes will be released once received
• Drill results of note received to date are as follows:
o 7.0m @ 15.5g/t o 11.0m @ 4.6g/t o 6.0m @ 10.5g/t
o 4.2m @ 19.9g/t o 7.0m @ 5.8g/t o 3.5m @ 16.8g/t
o 5.0m @ 15.9g/t o 5.0m @ 6.6g/t o 12.0m @ 2.3g/t
o 14.5m @ 4.9g/t o 4.9m @ 5.9g/t o 4.0m @ 6.8g/t
o 3.0m @ 22.1g/t o 2.0m @ 10.8g/t o 3.0m @ 6.3g/t
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Catalyst’s MD & CEO, James Champion de Crespigny, commented:
“These results are as expected.
“Their purpose was to grow the Reserve base. Hence, these holes are infill drilling inferred Resources with the intent of converting them to indicated.
“Further programs are underway to convert more inferred Resources to indicated while also attempting to expand the Resource base itself.
“It is pleasing to have another project development underway.
“With Plutonic East’s ramp up underway, K2 development progressing and now Trident underway, there is a heightened amount of activity and expenditure occurring across Plutonic.”
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To read the full news release please click HERE
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Disclosure
At the time of writing the author holds shares in Catalyst Metals.
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