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- Catalyst Metals (CYL) increases the mineral resource at its Henty gold mine in Tasmania by more than 10 per cent
- The mineral resource now totals 2.6 million tonnes at 4.3 g/t gold for 368,000 ounces of gold and accounts for depletion from FY22 production
- Ore reserves are now being prepared and are expected to be released in October
- A significant exploration program has been approved for Henty in FY23 to identify future production zones with results to be reflected in subsequent mineral resource updates
- Shares in Catalyst are steady on the market and are trading at $1.20 at 12:47 pm AEST
Catalyst Metals (CYL) has increased the mineral resource at its Henty gold mine in Tasmania by more than 10 per cent.
The mineral resource now totals 2.6 million tonnes at 4.3 grams per tonne (g/t) gold for 368,000 ounces of gold and accounts for depletion from FY22 production.
The updated mineral resource came from data collected from diamond drilling, channel sampling and sludge sampling techniques.
It has grown across Henty’s key production zones and increased the mining inventory in areas that have a low cost of conversion.
Ore reserves are now being prepared and are expected to be released in October.
“This is a solid result which supports Catalyst’s strategy to increase the inventory and production rate at Henty,” Technical Director Bruce Kay said.
“As we enter FY23 with a significant exploration programme and budget, we are particularly encouraged by recent exploration success at Darwin South and the Cradle Zone, which represent an opportunity to further add to Henty’s resource.”
A significant exploration program has been approved for Henty in FY23 with the aim of identifying future production zones with results to be reflected in subsequent mineral resource updates.
Shares in Catalyst were steady on the market and were trading at $1.20 at 12:47 pm AEST.
