- Catalyst Metals (CYL) has intersected more gold across the Four Eagles, Golden Camel and Toolleen gold project areas in Victoria
- Drilling at the Boyd’s Dam prospect within Four Eagles returned a peak grade of 21.5g/t gold and drilling between Boyd’s Dam and Hayanmi identified three fault zones
- Additionally, drilling at the Golden Camel mine intersected gold arsenic shear zones
- Further, six holes were drilled at the historic Toolleen mine and returned peak grades of 9.7 and 27.7g/t gold
- Unfortunately drilling at Toolleen was suspended but Catalyst plans to recommence the program next year
- Company shares are up 7.34 per cent and are trading at $2.78
Catalyst Metals (CYL) has intersected more gold across three project areas in Victoria.
The Four Eagles gold project is held in a 50:50 joint venture with Gold Exploration Victoria and exploration is being funded by both parties.
The company has been conducting diamond and reverse circulation (RC) drilling at the Boyd’s Dam prospect which lies within Four Eagles.
Latest intersections include three metres at 10g/t gold including one metre at 21.5g/t gold and two metres at 9g/t gold. These results complement assays received in May including 23 metres at 18.3g/t gold.
Additionally, four diamond holes were drilled between Boyd’s Dam and the Hayanmi prospect.
Drilling identified three fault zones – one of which presented a significant intersection of one metre at 8.5g/t gold. The structural interpretation suggests there may be other fault anticline intersections that will require testing.
“Drilling east and west of Boyd’s Dam and at depth by diamond drilling continues to provide encouragement that a complex system of fold anticlines and fault structures are present that can add to the gold mineralisation in the broader Boyd’s Dam – Boyd North area,” Technical Director Bruce Kay said.
Furthermore, Catalyst has spent the year conducting exploration and drilling beneath the Golden Camel pit and along strike and at depth of the historical Toolleen Gold Mine.
Catalyst is earning a 50.1 per cent interest in two exploration licences which are part of the Golden Camel mine.
Three holes were drilled to follow up on previous successful RC drilling conducted last year. All three holes intersected strong zones of shearing with quartz, arsenopyrite, and pyrite which were anomalous in gold and arsenic.
A stand-out result came from GCD002 which returned nine metres at 5g/t gold from 162 metres. The zones indicate the gold arsenic shear zones are persistent to the north and south of GCD002 and may produce higher grade gold at different structural positions.
Lastly, six holes were drilled at the Toolleen gold mine before weather conditions and farmland requirements caused drilling to be suspended.
One hole returned a significant result of six metres at 9.7g/t gold including two metres at 27.7g/t gold at depth below the historical mine. Another hole was unfortunately abandoned and the remaining four holes returned weakly anomalous gold mineralisation.
Catalyst plans to recommence drilling at Toolleen next year and will focus on a down-plunge target which appears to have a strike length of around 200 metres.
Company shares are up 7.34 per cent and are trading at $2.78 at 2:53 pm AEDT.