Plutonic Gold Belt, Western Australia - Numerous High-Grade gold intercepts from Trident drilling program

High-grade results, incl. 9m @ 64 g/t and 9m @ 33 g/t Au

Results fill gaps within Trident Mineral Resource, providing a strong basis for Definitive Feasibility Study (DFS)

Key Points

• 40 drill holes have been completed, infilling various gaps in the Trident Mineral Resource
• Initial results from these holes report significant intersections, with further results to be released as available
• Results will be used to update the Trident Mineral Resource as part of the ongoing Trident DFS
• Recent Trident Scoping Study demonstrated potential for high grade (6.7 g/t head grade), low AISC (A$1,046/oz) and low capital intensity (preproduction capital of A$36m) project
• Trident DFS due in CY 2024

, Sept. 5, 2023 /PRNewswire/ - Catalyst Metals Limited (Catalyst) (ASX: CYL) is pleased to announce it has received the first batch of results from a Mineral Resource infill drilling campaign at Trident.

The drilling program will provide important data to support Catalyst's Definitive Feasibility Study of Trident.

Catalyst's MD/CEO, James Champion de Crespigny, said: "This infill drilling program at Trident is an important step for Catalyst to progress the Trident DFS. One might describe this drilling as comfort drilling – there were gaps within the Trident Resource where Catalyst preferred to have closer spaced drilling. This infill drilling closes those gaps, giving greater comfort to the Mineral Resource and ultimately the DFS."

Drilling highlights:

During July, drilling contractors were mobilised at the Trident deposit to complete a reverse circulation (RC) and diamond drilling program (RC collars with diamond tails), targeting priority areas in the known mineralisation.

The objective of the program was to improve the density of drill coverage within the Trident Mineral Resource.

The drilling results will also be used for further metallurgical testing and geotechnical assessment as part of the DFS.

The drill results are in areas where the mineralisation was estimated to be very high grade. However, the drill density was low. In these important parts of the Resource, closer spaced drilling was important. The fact that these intercepts are returning high-grade results, and as such confirming the continuity of this high-grade mineralisation, is very encouraging.

Catalyst has reviewed drillhole data made available through the acquisition of the Vango Mining tenure, and applied the previous verification performed by Vango technical personnel. Vango Mining had announced on 4 April 2017 and 2 May 2017 results of their data review including contributions from Resolute Mining (ASX: RSG - 1997), Homestake Mining (2000), and Dampier Gold (ASX: DAU - 2011).

The Trident deposit is located on existing mining leases, approximately 25km north-east of the Plutonic gold mine. An existing, well maintained haul road connects Trident to the Plutonic mill.

Trident hosts an Indicated Mineral Resource of 945kt at 9.4g/t Au for 285koz Au¹ and an Inferred Mineral Resource of 645kt at 6g/t Au for 125koz Au. Catalyst recently released the results of a Scoping Study at Trident which utilised a 230koz of the 410koz Mineral Resource. This study demonstrated the potential for strong cashflows with low upfront development capital. Catalyst has commenced a DFS, which the results of the drilling program will support.

The details of the scoping study are below.

This announcement has been approved for release by the Board of Directors of Catalyst Metals Limited.

Competent person's statement
The information in this report that relates to exploration results is based on information compiled by Mr Paul Quigley, a Competent Person, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Quigley is a employee of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Quigley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

JORC 2012 Mineral Resources and Reserves
Catalyst confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements

Catalyst Metals is an ASX listed gold producer and explorer. Catalyst has a multi-asset strategy and controls three high grade, highly prospective and strategic gold belts in Australia:

• In Western Australia, the Plutonic Gold Project, which holds the Plutonic Gold Mine and +40km of neighbouring high-grade, underexplored tenements. The project hosts a NI 43-101 Measured and Indicated Mineral Resource of 2.6Moz at 3.5g/t Au and Inferred Mineral Resources of 4.3Moz at 3.7g/t Au.
• In Victoria, a large, contiguous and dominant Four Eagles Gold Project, covering 75 kilometres of strike length immediately north of the proven +22Moz Bendigo goldfields and near Agnico Eagle's high grade Fosterville gold mine; and
• In Tasmania, a strategic tenement package covering 25 kilometres of the under explored Henty fault and operates the high-grade Henty Gold Mine which has produced 1.4Moz of gold at a head grade of 8.9 g/t Au.

APPENDIX 1: TRIDENT GOLD DEPOSIT DRILLHOLE DATA

Table 1a: Trident diamond drill hole collars as available at the time of reporting

Table 1b: Trident significant intervals using fire assay (ALS Code Au-AA26) as available at the time of reporting. Intervals determined using 1.0ppm Au cutoff with a maximum of 3m internal dilution. Holes without a significant intersection are listed against the highest grade achieved.

JORC 2012 Edition, Table 1 Checklist Diamond Drilling