Catalyst Metals Limited (ASX: CYL) $3.05
06 May 2020
Catalyst Metals Limited (ASX: CYL) has intercepted gold at its Boyd’s Dam Prospect at the Four Eagles Gold Project north of Bendigo in Victoria (Figure 1). The company holds a 50% interest in the project with Gold Exploration Victoria Pty Ltd (GEV), a wholly owned subsidiary of Hancock Prospecting Pty Ltd.
Figure 1. Location of the company’s tenements in northern Victoria.
Highlights from reverse circulation drilling at the prospect includes:
- 23.0 metres @ 18.34g/t Au from 99.0 metres including 11.0 metres @ 34.5g/t Au;
- 7.0 metres @ 8.81g/t Au from 161.0 metres; and
- 13.0 metres @ 2.50g/t Au from 70.0 metres.
The Four Eagle Gold Project is situated along the Whitelaw Fault and covers an area of approximately 6 kilometres long and 2.5 kilometres wide. The drilling program was designed to provide further information on the interpreted mineralised zones along strike and at depth. The company had $20.6 million dollars in cash and cash equivalents at the end of the March 2020 quarter.
For further information, visit www.catalystmetals.com.au