CATALYST METALS LIMI

CYL
End-of-day quote. End-of-day quote  - 01/22
2.16AUD +1.41%

CATALYST METALS : HIGH-GRADE GOLD CONFIRMED IN DRILLING AT MACNAUGHTAN PROSPECT, TANDARRA GOLD PROJECT, VICTORIA

07/01/2020 | 11:10am

Catalyst Metals Limited (Catalyst) (ASX: CYL) and Navarre Minerals Limited (Navarre) (ASX: NML) are pleased to announce results of an air core (AC) drilling program comprising 42 holes of infill AC drilling on the southern extension of the Macnaughtan gold trend and 31 holes of reconnaissance AC drilling north of the Lawry Zone.

The AC drilling program is located within the Tandarra Retention Licence, RL006660, located 40km north of the historical 22Moz Bendigo Goldfield in Victoria.

RL006660 is owned in joint venture by Catalyst (51%) and Navarre (49%) with Catalyst as manager of the joint venture.

The Tandarra Gold Project is situated along the Whitelaw Fault, about 40 kilometres north of Bendigo. The Whitelaw Fault is considered to be the major structural control of gold mineralisation at Bendigo, extending northwards to the Murray River, concealed beneath a blanket of younger, post-mineralisation sediments of the Murray Basin.

Catalyst Technical Director, Mr Bruce Kay said: 'The high grades and continuity of gold mineralisation revealed by this AC drilling are highly encouraging, confirming the potential of the southern Macnaughtan prospect to become the second significantly mineralised structure at Tandarra, in parallel with the high grade gold intersections at the Tomorrow Zone, 250 metres to the east.'

MACNAUGHTAN PROSPECT INFILL AIR CORE DRILLING PROGRAM

Six east-west orientated infill AC drilling traverses totalling 42 holes were completed across a 1.6 kilometre strike length of the southern end of the Macnaughtan Zone, as follow-up to results from reconnaissance testing announced to ASX on 6 April 2020. Previous reconnaissance AC drilling had encountered anomalous zones of gold and arsenic on widely spaced drill traverses, warranting follow-up drilling.

The infill drilling hasrevealed highly significant gold mineralisation over a 600-metre strike-length, with some indications of multiple mineralised horizons. These results extend the strike length of mineralisation reported on 6 April 2020 to 1.4 kilometres. Zones of anomalous arsenic with trace gold enclosed are interpreted to extend the zone(s) of higher grade gold mineralisation northwards.

Contact:

Bruce Kay

Tel: +61 400 613 180

(C) 2020 Electronic News Publishing, source ENP Newswire

© Acquiremedia 2021
Copier lien
All news about CATALYST METALS LIMITED
3d ago
3d ago
4d ago
4d ago
12/23