Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Catalyst Metals has discovered high-grade gold mineralisation at the Cunneens Prospect at the Four Eagles Gold Project
  • A 2019 drilling program has been completed at the Tomorrow Zone at the Tandarra Gold Project
  • Aircore and reverse circulation drilling has highlighted gold potential
  • Diamond drilling results are expected in August 2019

Catalyst Metals has discovered high-grade gold at it’s Four Eagles Gold Project with gold values up to 42.9 grams per tonne of gold.

This discovery represents an increase of the high-grade gold footprint at Four Eagles which is now potentially nine kilometres long and five kilometres wide.

Aircore drilling of 8 holes on two traverses for a total of 987 metres took place at Cunneens. Of the eight holes, four contained anomalous arsenic geochemistry and three holes contained significant gold values including: 5.0m @ 13.1g/t Au and 3.0m @ 21.4g/t Au from 124 metres in drill hole FE915.

“It is exciting to get high grade gold mineralisation at such an early stage in a greenfield exploration area,” Technical Director Bruce Kay said.

The company has also announced drilling at the southern end of the Tomorrow Structure of the Tandarra Gold Project, has intersected further high-grade gold zones.

The southern area showed stacking of shallow plunging gold zones similar to those observed at Fosterville and Bendigo – both highly prospective areas.

Catalyst controls the entire 75 kilometres of the Whitelaw Gold Belt which is a known structure of gold mineralisation north of Bendigo.

At Tandarra, the company and its joint venture partner, Navarre, have funded and completed a 10,000 metre aircore (AC), reverse circulation (RC) and diamond drilling program. The exploration program tested the Macnaughtans zone and the northern and southern extensions of the Tomorrow Prospect.

The AC and RC drilling programs highlighted the gold potential of the southern extensions of the Tomorrow and Macnaughtan trends. Results from the diamond drilling program are expected in August 2019.

CYL by the numbers
More From The Market Herald

" Kelsian Group (ASX:KLS) sells East London bus operation for £20m

Tourism and bus company Kelsian Group (ASX:KLS) agrees to sell its East London bus operations to…
The Market Herald Video

" Titomic (ASX:TTT) sells first Titomic D523 system in Asia Pacific

Titomic (ASX:TTT) has sold its first Titomic D523 system through the company's Australian branch to D&C…

" COVID-19 outbreaks force Brickworks (ASX:BKW) to wind back operations

Brickworks (ASX:BKW) has wound back operations at several facilities in New South Wales and Queensland in…

" Bapcor (ASX:BAP) looks to raise $210M and carry out its 5-year strategy in spite of COVID-19

Bapcor (ASX:BAP) is looking to raise up to $210 million to reduce its net debt and…