Catalyst Metals Limited (ASX: CYL) announced on Tuesday the first batch of results from a Mineral Resource infill drilling campaign at the Trident deposit. The high-grade results, including 9m @ 64 g/t and 9m @ 33 g/t Au, will be used to fill gaps within the Trident Mineral Resource, providing a strong basis for the company's Definitive Feasibility Study (DFS) due in CY 2024.
The drilling program was initiated in July to improve the density of drill coverage within the Trident Mineral Resource. Targeting priority areas in the known mineralisation, the program employed reverse circulation (RC) and diamond drilling techniques. The results will also be used for further metallurgical testing and geotechnical assessment as part of the DFS.
James Champion de Crespigny, Catalyst's MD/CEO, called the infill drilling program an essential step for Catalyst to progress the Trident DFS. He emphasized that this infill drilling fills gaps in the Trident Resource where Catalyst preferred to have closer spaced drilling, boosting confidence in the Mineral Resource and bolstering the DFS.
The Trident deposit is situated on existing mining leases, roughly 25km north-east of the Plutonic gold mine. It hosts an Indicated Mineral Resource of 945kt at 9.4g/t Au for 285koz Au and an Inferred Mineral Resource of 645kt at 6g/t Au for 125koz Au.
Catalyst recently released a Scoping Study at Trident, which utilized a portion of the Mineral Resource, demonstrating potential for strong cash flows with low upfront development capital. The company has commenced a DFS, which will be supported by the results of the current drilling program.
Mr Paul Quigley, a Competent Person and Fellow of the Australasian Institute of Mining and Metallurgy, compiled the information relating to exploration results. Mr Quigley has sufficient experience relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the JORC Code.
Catalyst confirmed that it is not aware of any new information or data that materially affects the information included in its original market announcements. The company ensured that all material assumptions and technical parameters underpinning estimates continue to apply and have not materially changed from those in previous market announcements.
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