Catalyst Metals (ASX: CYL) has intersected high-grade gold and extended the known mineralisation at the Boyd’s Dam prospect which is part of the company’s 50%-owned Four Eagles gold project in Victoria.
Four holes were undertaken in the recent program for a total of 1,208.9m, with three holes striking gold mineralisation.
Of note, was an 11m intersection grading 37.2 grams per tonne gold from 145m, which revealed mineralisation at Boyd’s Dam was open to the south.
The intersection included two higher grade 1m intervals containing 150g/t gold and 247g/t gold.
Catalyst technical director Bruce Kay said the presence of high-grade gold at the south end of Boyd’s Dam confirms gold zones are open.
He added the results also revealed the potential for multiple stacked zones beneath the known mineralisation.
“Grades of greater than 20g/t gold represent excellent underground targets.”
Other highlight results from Boyd’s Dam were 3.4m at 7.5g/t gold, including 0.7m at 34g/t gold from 70m; and 1m at 24.3g/t gold from 109m.
Diamond drilling was also carried out at the Pickles prospect and identified smaller sections of minor gold.
Catalyst said mineralisation at Pickles was “more complicated” with three parallel structures over 1km of strike.
This year, Catalyst trialled two deep reverse circulation holes at Pickles and uncovered 5m at 1g/t gold from 102m, 4.7m at 1g/t gold from 175.3m and 0.3m at 11.95g/t golf from 143.7m.
Four Eagles joint venture
Four Eagles is located in Victoria’s Whitelaw gold corridor and comprises 13 exploration licences and two retention licences that extend for 75km.
Hancock Prospecting Pty Ltd’s subsidiary Gold Exploration Victoria holds the other 50% of the project.
Drilling at Boyd’s Dam earlier this year unearthed the company’s best ever gold assay of 1,675g/t.
In addition to Boyd’s Dam and Pickles, Catalyst has identified gold at the project’s Cunneens prospect which returned 5m at 13.1g/t gold, including 3m at 21.4g/t gold and 1m at 5.4g/t gold.
Within the first 10 minutes of trade, Catalyst’s share price had shot up almost 5% to $2.38.