Catalyst Metals (ASX: CYL)
Announced that it has received the final environmental approval for development of the Trident Gold Project from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
Catalyst now has all environmental approvals in place to commence mining.
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| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$1.53 Billion @ A6.99 | |
| Location | Murchison, Western Australia | |
| Website | www.catalystmetals.com.au |
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Catalyst Metals Trident development approved to proceed
Approval of open pit mining proposal clears the way for mining to
commence
Catalyst Metals Limited (ASX:CYL) (Catalyst or the Company) is pleased to announce that it has received the final environmental approval for development of the Trident Gold Project from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
Catalyst now has all environmental approvals in place to commence mining.
Grade control drilling of the open pit is complete – with a grade control rig having been
mobilised in January. The award of the open pit mining contract is expected in the coming weeks and Catalyst is well placed to commence production in line with its previously stated guidance.
DEMIRS has approved the open pit mining proposal for the Trident Gold Project,
allowing Catalyst to proceed with development in line with guidance
Award of the open pit mining contract will be finalised in the coming weeks once a
safety compliance notice from DEMIRS is received
Trident is an undeveloped gold deposit 30km north‐east of the Plutonic processing
plant with Resources of 524koz at 3.6g/t Au and Reserves of 188koz at 4.4g/t Au2
Trident’s capital costs are A$15m; development comprises a small open pit followed
by an underground mine, with ore processed at the underutilised Plutonic processing
plant
Trident currently has a five‐year mine plan at 37koz of gold per annum and average
annual cashflow of A$53m (at A$3,400/oz)3
Grade control drilling of the open pit is now complete, having commenced in January
and undertaken concurrently with the approvals process
It is the third mine to be developed as part of Catalyst’s three‐year plan to double
production at the Plutonic Gold Belt for $31m
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Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
“Trident has been inching closer to development for some time.
“This milestone makes it more real.
“We now have all the mining approvals in place to allow Catalyst to bring online the mines necessary to double production at the Plutonic Gold Belt.”
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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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