- Catalyst Metals (CYL) and JV partner Navarre Minerals (NML) report gold grades of up to 831 grams per tonne at the Tandarra gold project in Victoria
- Follow-up diamond drilling at the Lawry Prospect intersected an eight-metre zone of mineralised quartz breccia
- There are now three parallel zones of gold mineralisation at the project which Technical Director Bruce Kay says show similarities to the historic Bendigo Goldfield
- While infill drilling is planned, the Lawry prospect lies in grazing paddocks which Catalyst expects will be too wet for any infill drilling this winter
- Shares last traded at $1.57 on May 16
Catalyst Metals (CYL) has reported gold grades of up to 831 grams per tonne at the Tandarra gold project in Victoria.
The project is a joint venture between Catalyst and Navarre Minerals (NML), located in an area considered to be a major structural control of gold mineralisation.
The JV partners took on the most recent drilling work to follow up on broad zones of gold mineralisation identified by air core drilling in 2020 and 2021.
Catalyst drilled a single diamond hole at the Lawry gold prospect to test a discovery hole that in 2020 returned 20 metres at 1.5 grams of gold per tonne (g/t) and one metre at 10.5 g/t.
The new hole struck an eight-metre zone of mineralised quartz breccia within a massive shale unit from 69 metres, returning 12.9 metres at 33.1 g/t gold from 66.4 metres which included 0.5 metres at 831 g/t gold.
Technical Director Bruce Kay said following this high-grade and shallow hit, there were now three parallel zones of gold mineralisation with high grades at the project.
Mr Kay also said the distribution of gold showed similarities to that mined at the historic Bendigo Goldfield which reportedly produced 22 million ounces of gold.
While infill drilling is planned, the Lawry prospect lies in grazing paddocks which Catalyst expects will be too wet for any infill drilling this winter.
The company has re-assayed significant intercepts from the latest diamond hole with results pending. Catalyst said the large sample volume may”even out” the nugget effect of coarse gold.
Company shares last traded at $1.57 on May 16.