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Catalyst Metals (ASX:CYL) upgrades high grade gold interval at Four Eagles
  • Catalyst Metals (CYL) has upgraded its high-grade gold interval at the Four Eagles Gold Project
  • Just yesterday, the company announced a best intersection grading up to 110.2 grammes per tonne gold
  • However, this was updated to 160.6 grammes per tonne gold today
  • This upgrade comes after Catalyst Metals completed a fire assay on the hole, because the previous method used is not optimal for values greater than 100 grammes per tonne
  • Further checks will now be undertaken on all anomalous results received from this most recent program at Four Eagles, with results expected this quarter
  • Catalyst Metals is up a slight 0.99 per cent this morning and shares are trading for $3.07 each

Catalyst Metals (CYL) has upgraded its high-grade gold interval in hole FERC284 at the Four Eagles Gold Project.

This project is located along the Whitelaw Fault, which is considered to be a major gold mineralisation zone north of Bendigo in Victoria.

It is held in a joint 50:50 joint venture with Gold Exploration Victoria, a subsidiary of Hancock Prospecting.

Just yesterday, Catalyst Metals announced a best intersection of 23 metres at 18.34g/t gold, and seven metres at 8.81g/t gold with the hole finishing in gold mineralisation at a depth of 168 metres.

An interval of three metres also returned 110.2g/t gold.

However, the company today announced that the best intersection has now increased to 25 metres at 23g/t gold from 99 metres and depending on the cut-off used, a broader zone contains 11 metres at 48.2g/t gold, or three metres at 160.6g/t gold.

This upgrade comes after Catalyst Metals completed a fire assay on the hole because the previous method used is not optimal for values greater than 100g/t gold.

These updated results were only received after yesterday's announcement was made.

Fire assaying is when a metal is separated from impurities by fusion and then weighed to determine the actual metal amount.

Checks will now be undertaken on all anomalous results received from this most recent program at Four Eagles and the Boyd's Dam Prospect.

Results are expected to be reported in the June 2020 quarter.

Catalyst Metals is up a slight 0.99 per cent this morning and shares are trading for $3.07 each at 11:13 am AEST.


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