Catalyst Metals (ASX: CYL)

Announced an updated Mineral Resource and Ore Reserve for the Cinnamon deposit, located on the Plutonic Gold Belt in Western Australia. 

Cinnamon Resource grows 370% underpinning maiden underground Reserve and 7-year LOM at up to 40-50koz pa.

 

 

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	Catalyst Metals	ASX : CYL
	Stage	Exploration / development
	Metals	Copper / Gold
	Market cap	A$1.52 Billion   @ A5.78
	Location	Murchison, Victoria,  Australia
	Website	www.catalystmetals.com.au

 

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Catalyst Metals’ Cinnamon Resource grows 370% underpinning maiden underground Reserve and 7-year LOM at up to 40-50koz pa

 

 

 

Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to announce an updated Mineral Resource and Ore Reserve for the Cinnamon deposit, located on the Plutonic Gold Belt in Western Australia. 

This includes a maiden Resource and Reserve for the recently discovered underground zone.

The maiden underground Ore Reserve has been delivered within twelve months of initial discovery. Importantly, the Reserve establishes Cinnamon as the sixth ore source in Catalyst’s plan to grow Plutonic Gold Belt production to ±200koz per annum.

 

Highlights

Further Reserve growth potential from infill drilling of Inferred Resource and ongoing
exploration success
• Cinnamon’s Resource is 6.9Mt at 2.5g/t for 541koz – a 370% increase
• This includes an Open Pit and Underground Resource of 2.9Mt at 1.2g/t for 108koz and 4Mt at 3.4g/t for 434koz, respectively
• Within the Underground Resource, is a maiden Underground Reserve of 232koz at 3.0g/t underpinning a life of mine production target with a 7.5 year mine life, reaching steady state annual production of 40-50koz (see Figure 2)
• Life of mine AISC are estimated at A$2,357/oz
• Cinnamon’s wide, continuous mineralisation and favourable ground conditions lay the
foundations for lower risk, more efficient bulk scale mining
• Cinnamon is the sixth ore source on the Plutonic Belt in Catalyst’s plan to increase production to ±200koz pa – these ample ore sources will reduce Plutonic’s overall operating risk
• The high-grade Cinnamon shoot is hosted in one of several repeating conglomerate units.
Recent drilling intersected mineralisation in a number of these units demonstrating potential for repeat mineralised zones
• To date, drilling has focussed on infill to delineate a Reserve. Future drilling programs will target these repeat units and seek to grow the deposit
• In September 2025, Catalyst released general 10-year guidance3
. Since then, Catalyst has seen changes to permitting timelines, operational delays and processing capability. It has also seen increases to Reserves and Resources at Cinnamon, Keillor and Trident. Reserves are now in excess of the previously reported 1.5Moz
• As a consequence, the September 2025 guidance should be seen as a general guide as to management’s long-term plans for Plutonic.

Cautionary Statement: The Cinnamon life of mine Production Target contains approximately 74% of Ore Reserves and 26% Inferred Mineral Resource. There is a low level of geological confidence associated with Inferred Mineral Resource and there is no certainty that further exploration work will result in the conversion to Indicated Mineral Resource or that the Production Target itself will be realised.

 

 

 

 

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Catalyst’s MD & CEO, James Champion de Crespigny, commented:

“To have moved from discovery to Reserve within 12 months is a credit to our team.

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“The existing infrastructure and sunk capital across the belt makes this possible, however the team has turned it into a reality.

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“Cinnamon will be a sixth ore source for the Plutonic mill. The width, and continuous nature of the orebody will lend itself to efficient mining of bulk stopes.

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“Under our fellow Director Bruce Kay’s leadership, this has been a highly successful period of exploration for Catalyst.

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“We have recently announced discoveries at Trident and Cinnamon and extensions at Keilor (formerly K2). Reserves, after depletion, have increased from 500koz to 1.5Moz and now beyond in only two years of exploration.

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“His guidance, and now with the Company’s balance sheet, have ensured Catalyst’s long-term success.”

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To read the full report please click HERE

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.The live Spot gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Catalyst Metals

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Corazon Mining (ASX: CZN) Announced a maiden Exploration Target of 9.7 – 12.3Mt at 1.9 – 2.1 g/t Au (approximately 600,000 – 830,000oz contained gold) at its 100%-owned Chalice Gold Project near Higginsville, Western Australia.

 

 

 

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	Corazon Mining	ASX: CZN
	Stage	Exploration / Development
	Metals	Gold, battery metals
	Market cap	A$27 million @ A$0.11c
	Location	Western Australia
	Website	www.corazon.com.au

. Corazon Defines Chalice Exploration Target, Confirms Significant Resource Growth Potential

Go to announcement

HIGHLIGHTS

Maiden Exploration Target defined at the Chalice Gold Project which shows the potential to significantly increase the existing Mineral Resource Estimate on completion of further drilling Target is inclusive of the existing 191,000oz Mineral Resource, indicating substantial conceptual mineralisation beyond the current Mineral Resource Estimate. Underpinned by ~370 historical drillholes plus extensive underground face and sludge sampling, defining a mineralised system extending 1.7km along strike and 700m vertically. Target captures near-surface mineralisation for the first time, extending beyond the underground-only basis of the current Resource. Drill planning is underway, with expectations of drilling to commence in the coming weeks, with an initial 7,500m RC program to test the geological and grade continuity assumptions. The Exploration Target confirms the scale of the Chalice opportunity and supports the Company’s transition from early-stage explorer to potential WA gold developer.

Figure 1. Plan view mineralisation and the southern strike extension of the Exploration Target at Chalice Gold Project

Go to announcement

Corazon Mining Limited (ASX: CZN) (“Corazon” or the “Company”) is pleased to announce a maiden Exploration Target of 9.7 – 12.3Mt at 1.9 – 2.1 g/t Au (approximately 600,000 – 830,000oz contained gold) at its 100%-owned Chalice Gold Project near Higginsville, Western Australia. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for the additional mineralisation included in the Exploration Target, and it is uncertain if further exploration will result in the estimate of a Mineral Resource.

Corazon Mining Ltd Managing Director, Simon Coyle, commented:

“This Exploration Target confirms what our technical team has suspected since we first reviewed the Chalice database — this is a considerably larger system than the resource we acquired.   “Decades of drilling and underground sampling point clearly to mineralisation extending well beyond the current Resource — both near-surface and at depth.   “There is real work still to do before any of that potential can be converted to a Mineral Resource, and we intend to get on with the drilling required to confirm it.   “There is genuine potential for a substantial high-grade open pit cutback at Chalice — an outcome that, if confirmed through further drilling, could underpin a low-cost mining operation and meaningful cashflow contribution as we work toward advancing Chalice into a development-ready open pit gold mine.”   .   +++++++ . To view Corazon Mining’s latest share price and chart, please click HERE .To View Corazon Mining’s historical news, please click here. The live gold price can be found HERE . ======= . City Investors Circle is based in the financial district in the City of London We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies. Our audience is selected and invited individually to ensure interest and relevance for the presenting company. Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation. We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter. If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com . ======= , This website is not sponsored, we are truly independent, and will always remain so Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team. All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this. These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional. . Disclosure At the time of writing the author holds shares in Corazon Mining. . To read our full terms and conditions, please click HERE

Kaiser Reef (ASX:KAU)

Refers to its announcements released on 24 March 2025, 6 May 2025 and 11 August 2025 respectively titled “Investor Presentation” and retracts certain information contained within them, as well as  the Resource Life (M&I) statement of +10 years relating to Henty Gold Mine.

 

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	Kaiser Reef	ASX : KAU
	Stage	Production, Development, Exploration
	Metals	Gold
	Market cap	A$112 million   @ A$0.19
	Location	Victoria, Tasmania
	Website	www.kaiserreef.com.au/

 

 

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Kaiser Reef Issue Clarification Statement

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ASX RELEASE I 22 AUGUST 2025
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Kaiser Reef Limited (ASX:KAU) (“Kaiser” or the “Company”) refers to its announcements released on 24 March 2025, 6 May 2025 and 11 August 2025 respectively titled “Investor Presentation” (‘Announcement’) and retracts the information included in slide 5 (24 March 2025 Announcement), slides 3 and 9 (6 May 2025 Announcement), slides 5, 9 and 12 (11 August 2025 Announcement) respectively and retracts the Resource Life (M&I) statement of +10 years relating to Henty Gold Mine does not meet the requirements of ASX Listing Rule 5.16.

Accordingly, the Company will not include information determined in this manner in future releases and investors are advised not to rely on the potential mine life information contained in the retracted statement for their investment decisions.

In addition, the Company refers to slide 13 (6 May 2025 Announcement) ,and slide 17 (11 August 2025 Announcement) respectively relating to an Exploration Target for the Maldon Gold Project (Union Hill Mine) and provides the following clarification:
Exploration Target: An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource.

The potential quality and grade of the Exploration Target is conceptual in nature and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

 

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Competent Person Statement

The information in this release that relates to the Exploration Target and Mineral Resources for the Maldon Gold Project were first released in the Company’s announcements dated 21 July 2022 and subsequently reviewed by Shawn Panton (B.Sc.(HONS)) (Geology), AIG. an employee of Kaiser Reef Limited.

Mr Panton has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Panton consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Mr Panton holds securities in the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the announcement and confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.

-ENDS

This announcement was approved for release by the Board of Kaiser Reef Limited.

For further information, please contact:

Jonathan Downes
E. jonathan.downes@kaiserreef.com.au

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To read the full news release please click HERE

 

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To View Kaiser Reef’s historical news, please click here

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The live Spot gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Kaiser Reef. 

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To read our full terms and conditions, please click HERE

Catalyst Metals (ASX: CYL)

Announced it has agreed a three-year, A$100m revolving credit facility with a syndicate of lenders comprising Westpac, National Australia Bank and Societe Generale.

Catalyst has not, nor does it intend to, draw on the debt facility.

 

 

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	Catalyst Metals	ASX : CYL
	Stage	Exploration / development
	Metals	Copper / Gold
	Market cap	A$1.19 Billion   @ A4.73
	Location	Murchison, Western Australia
	Website	www.catalystmetals.com.au

 

 

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Catalyst Metals obtains A$100m Revolving Credit Facility

 

 

Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to announce it has agreed a three-year, A$100m revolving credit facility with a syndicate of lenders comprising Westpac, National Australia Bank and Societe Generale.

Catalyst’s recent A$150m placement, existing cash reserves and strong underlying free cashflow places the business is a strong financial position.

This additional, and undrawn, A$100m revolving facility demonstrates the creditworthiness of the business, begins building these important financial relationships and further enhances the company’s balance sheet to pursue its growth plans.

 

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Highlights

• Catalyst has signed a Syndicated Facility Agreement with Westpac, National Australia
Bank (NAB) and Societe Generale
• The facility gives Catalyst access to A$100m of financing, should it choose to draw on it
• Catalyst has not, nor does it intend to, draw on the debt facility
• By entering into this facility, Catalyst is not only improving its balance sheet but also
establishing important relationships with highly credible financiers such as NAB,
Westpac and Societe Generale
• The terms of the facility include
o A$100m Revolving Credit Facility (RCF)
o A$10m Contingent Instrument Facility
o No mandatory hedging
o 3-year tenor
• In May 2025, Catalyst completed a A$150m placement to institutional investors
• The facility gives Catalyst further liquidity and provides additional flexibility as the
business grows.

 

 

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Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:

“Catalyst would like to thank the mining finance teams at NAB, Westpac and Societe Generale for the work they have put in to executing this facility.

 

“We place enormous value on these important relationships.

 

“This support from tier 1 lenders is an important step for Plutonic given it was losing money when Catalyst acquired it two years ago.”

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To read the full news release please click HERE

 

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To View Catalyst Metal’s historical news, please click here

.The live Spot gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Catalyst Metals. 

.

To read our full terms and conditions, please click HERE

——-

To read the full news release please click HERE

To View Catalyst Metal’s historical news, please click here

.The live Spot gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Catalyst Metals. 

.

To read our full terms and conditions, please click HERE

Pacgold (ASX: PGO)

Provided an update on step-out drilling progress on the Central and Southern Targets at the Company’s Alice River Gold Project 300km northwest of Cairns, North Queensland. 

 

 

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Pacgold	ASX : PGO
Stage	Exploration
Metals	Gold
Market cap	A$23 m   @A$ 33c
Location	Queensland, Australia

 

 

First 2023 Drilling at the Alice River Southern Target Intersects Broad Zones of Veining Within Targeted IP Anomaly

 

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Pacgold Limited (ASX: PGO) (‘Pacgold’ or the ‘Company’) is pleased to provide an update on step-out drilling progress on the Central and Southern Targets at the Company’s Alice River Gold Project (‘Project’), 300km northwest of Cairns, North Queensland.

To date, 10 diamond drill holes for 2,821.4m have been completed on the Central Target and Southern Targets in the current programme, with samples despatched for five holes and the remaining holes being processed on site and awaiting despatch. Initial assay results are expected in late June.

An additional five reverse circulation (RC) pre-collars for 966m have been completed on the Central Target and are awaiting diamond tails to complete the drill holes to the target depth.

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Southern Target Drilling

• Broad zone of veining and alteration intersected over a 50m downhole section
associated with a new IP geophysics anomaly concealed by shallow cover
sediments (drillhole STDH006 – assay results pending)
• The new IP anomaly extends >400m with potential to link the Southern Target
gold zones over a strike of >1.8km
• Pacgold’s 2023 drilling programme represents the first drilling of the Southern
Target under shallow cover in 33 years (first ever with modern IP targeting
assistance)
• Several similar, prospective IP geophysics anomalies occur (under shallow cover)
over at least 2km to the southeast of the Southern Target gold zones and represent
high priority targets for the next phase of drilling

Long section along the Southern Target showing latest drilling (assays pending) and location STDH006 which intersected a broad zone of veining and alteration associated with an IP target concealed by shallow cover sediments.

Potential to link the two main outcropping main Southern Target gold systems over >1.8km.

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Central Target Drilling

• Step-out drilling on the F1a Zone continues to deliver, with encouraging veining and
alteration observed in drill core of first 2023 holes (assay results pending)
• Steady stream of drilling assay results expected to flow over June and July.

 

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Pacgold Managing Director Tony Schreck said:

 

“Pacgold’s 2023 drilling has kicked off strongly.

 

“We are particularly excited by the broad veining and alteration observed in drillhole STDH006 at the Southern Target, associated with a new, large-scale IP geophysics anomaly completely concealed by shallow cover sediments.

 

“We believe this new mineralised zone potentially links the two main areas of outcropping high-grade gold mineralisation on the Southern Target.

 

“This represents a significant advance and validation of our regional and local scale targeting strategy using the IP geophysics, and importantly upgrades the potential of several similar IP geophysics anomalies along strike of the Southern and Central Targets that are planned for drilling this year.”

 

 

Southern Target Drilling Update

Drilling on the Southern Target is aimed at investigating the depth and strike extensions of the broad gold system defined by shallow historical drilling and interpreted as a repetition of the Central Target.

Seven holes have been completed by Pacgold as part of the current programme with all drill holes intersecting multiple zones of alteration and veining (assay results pending).

Drillhole STDH006 was completed to investigate a >400m long IP geophysical anomaly comprising a resistivity high within a broad resistivity low (main mineralised corridor) concealed by shallow cover sediments.

STDH006 intersected an encouraging zone of consistent quartz veining and alteration over an approximate 50m downhole width, which is interpreted to be associated with the IP resistivity high anomaly.

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To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Pacgold

.

To read our full terms and conditions, please click HERE