Catalyst Metals Intersects 7.4 GPT of Gold at Cinnamon
Catalyst Metals (ASX: CYL)
Reported drill results at the Cinnamon-Cobalt trend, located on the Plutonic Gold Belt.
Cinnamon, along with other areas of the belt, are gradually being better understood thereby allowing for this higher-risk exploration. These results, after such work, are obviously encouraging.
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Catalyst Metals Mining, courtesy of Catalyst Metals
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| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$1.72 Billion @ A6.72 | |
| Location | Murchison, Victoria, Australia | |
| Website | www.catalystmetals.com.au |
Catalyst Metals announce 33m at 7.4 g/t gold intersected below Cinnamon Resource
Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to report drill results at the Cinnamon-Cobalt trend, located on the Plutonic Gold Belt.
These results come after a considerable amount of geological work undertaken by the team, since acquisition. Cinnamon, along with other areas of the belt, are gradually being better understood thereby allowing for this higher-risk exploration.
These results, after such work, are obviously encouraging for the team and Company.
Cinnamon strike length doubled with a further intersection of 7m at 29.8 g/t gold
• Cinnamon is an undeveloped gold Resource of 145koz3 and is 25km north-east of the
underutilised Plutonic processing plant
• During Catalyst’s 2023 acquisition of Plutonic, an intercept of 17m at 2.3 g/t gold, situated immediately below this Cinnamon Resource, was identified
• The purpose of a recently completed drilling program was to follow-up on this intercept
along with testing other targets generated since acquisition. The program yielded four
important outcomes:
1) New target area identified below the existing Resource due to an intercept of 33m at
7.4 g/t;
2) Potential expansion of the Resource resulting from intersections near to, but outside,
the Resource envelope; intersections include 17m at 4.1 g/t and 15m at 4.0 g/t;
3) New target area identified 250m north-east between the Cinnamon and Cobalt
deposits due to intersecting 37m at 4.2 g/t; and
4) Doubling Cinnamon’s known strike length by intersecting 7m at 29.8g/t 1km southwest of the Resource.
• This drill program has opened up several new exciting target areas at Cinnamon
• Catalyst’s drilling to date has focused on Plutonic Main, Plutonic East, Trident, K2 and Old Highway, as they provide a pathway to 200koz of annual gold production from the Plutonic Belt
• Until now, Cinnamon has neither been a focus nor included in these future production plans
• These results give encouragement for it to be a potential sixth ore source on the Belt
• Drill results of note received to date, include:
o 33m at 7.4g/t Au o 19m at 3.7g/t Au o 7m at 29.8g/t Au
o 22m at 14.3g/t Au o 13m at 6.1g/t Au o 15m at 4.0g/t Au
o 37m at 4.2g/t Au o 18m at 3.6g/t Au o 17m at 4.1g/t Au
• All this recent drilling lies outside the existing Resource envelope suggesting the potential for an expansion of Resources along strike and at depth.
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Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
“These results are looking interesting. Plutonic has had 14 different owners over the last 30 years.
“This fragmented ownership history is why exploration has been neglected for so long.
“The belt requires meaningful exploration drilling to test its potential.
“Catalyst published a 10-year production plan last month. Cinnamon did not form part of that plan. It is one of our lower-level exploration targets and yet we are still returning these encouraging results.
“They go a long way to explaining to our shareholders the potential exploration upside on offer.”
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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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