Article courtesy of Australian Business News.
Catalyst Metals (ASX:CYL) is working towards a maiden JORC resource estimate at its Four Eagles gold project in Victoria to underpin a decision on an exploration tunnel. Results from the Boyd’s Dam prospect include 0.75m @ 21.5 g/t Au, 8.05m @ 11.8 g/t Au, 9.0m @ 9.1 g/t Au and 1.0m @ 150 g/t Au. Deeper diamond drilling at Boyd’s Dam and Hayanmi has identified structures with gold mineralisation, although drilling is still insufficient to establish continuity.
The company said it may be necessary to drill from an underground tunnel to thoroughly test these highly promising positions. The first reconnaissance air core drilling program at the company’s Boort exploration licence, which is a 50/50 joint venture with Gold Exploration Victoria (a subsidiary of Hancock Prospecting ), has encountered a possible trend of gold mineralisation at least a kilometre long that will require further testing.
Air core drilling has returned significant intersections at the gravity target BTG02, the most remarkable being 3m @ 18.25g/t Au.