- Catalyst Metals (CYL) reveals gold mineralisation beneath cover while air core drilling the Drummartin Exploration Licence (EL) 6507 in Victoria
- The 2021 drilling program mainly focused on five gravity targets
- Best results from Target 9 include three metres at 6.19 grams of gold per tonne (g/t), one metre at 1.27g/t gold, and 0.59g/t gold
- The results highlight several areas where follow-up and reverse circulation drilling are scheduled to take place in December
- Shares closed down 0.79 per cent at $1.89 on September 3
Catalyst Metals (CYL) has completed a aircore drilling program at its Drummartin Exploration Licence (EL) 6507 — revealing gold mineralisation beneath cover.
Fellow ASX player, St Barbara Mining (SBM), is earning a 50 per cent interest in the Victorian tenement, which is situated on the northern extension of the Drummartin, Fosterville and Redesdale Faults.
In a statement today CYL said it had interpreted regional gravity data to generate 13 initial targets for reconnaissance drilling.
Accordingly, the first-pass reconnaissance drilling program focused on five gravity targets, with holes drilled roughly 200 metres apart along east-west traverses. From December 2020 to June this year, CYL completed 89 aircore holes for a total of 13,213 metres.
Notably, CYL said recent work at Target 9 returned significant and anomalous gold results adjacent to the recognised regional fault system, including three metres at 6.19 grams of gold per tonne (g/t), one metre at 1.27g/t gold, and 0.59g/t gold.
The results highlighted several areas for follow-up and infill drilling, vectoring towards areas of shallow cover, with work now scheduled to recommence in December.
Meanwhile, another gravity target, Target 11, also showed anomalous gold values and recovered three metres at 0.32g/t gold from 151 metres.
Catalyst’s technical director Bruce Kay commented on the findings.
“The Drummartin exploration licence has had virtually no previous drilling in a large area of 671 square kilometres and it is exciting that gold mineralisation has been drilled in an initial reconnaissance program of widely spaced aircore drilling,” he said.
Shares closed down 0.79 per cent at $1.89 on September 3.