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Catalyst Metals (ASX:CYL) shares have been up towards +6% higher out of the gate in Monday morning trades after confirming that they’d hit a new high-grade gold zone outside their existing ‘Cinnamon’ resource.
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With gold prices where they are – now in the US$4,600 range – it’s not particularly hard to understand why CYL’s price action is doing what it’s doing.
Helping matters, as ever, drill results: Catalyst flagged new results Monday, including one 18-metre wide hit assayed for grades of 9.7g/t gold. Further drilling is now on the cards, and in the company’s eyes, it has just discovered a whole new area of interest along the geological Plutonic belt, within its project acreage.
“Catalyst’s drilling to date has focused on Plutonic Main, Plutonic East and Trident, as they provide the main feedstock for future production… These results give Catalyst further confidence that Cinnamon has the potential to form a sixth underground ore source,” the company wrote on Monday.
“Under Catalyst’s ownership, Plutonic’s Reserves have tripled. This occurred in 2025 and was driven by a doubling of Plutonic and Trident Reserves.”
Those results speak for themselves: As at 11.30am AEDT on Monday, January 19, CYL’s 1Y returns are up +175%.
CYL last traded at $9.46/sh.
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