The final phase of reverse circulation drilling at Catalyst Metals’ (ASX: CYL) Boyd’s Dam Zone gold target in regional Victoria has confirmed a “best ever intersection” grading 1,675 grams per tonne gold.
Five holes at the target – located within the Four Eagles gold joint venture near Bendigo – recorded several impressive intersections including 8m at 212.3g/t gold with a 1m interval containing “abundant visible gold” assaying 1,675g/t.
It has been labelled the company’s best ever result and surpasses the previous “bonanza grade” assay of 1,380g/t gold reported in March.
Drilling also recorded 7m at 8.24g/t gold from 44m, including 1m at 36.5g/t gold; and 8m at 9.33g/t gold from 85m.
Similar results were reported after the first phase of air core drilling at the Boyd North area, indicating that the Boyd’s Dam mineralisation may extend a further 800m to the north with a total possible strike length of 1,600m.
Reverse circulation drilling commenced at Boyd’s Dam in December and was completed in February for a total 4,582m over 33 holes.
The holes were designed to provide more information on interpreted mineralised shapes in the 50m to 120m depth horizon.
While bulk leach assays are still in progress for many samples, Catalyst said those already received have confirmed previous aqua regia assays with positive and negative variations within 15%.
Boyd North target
Air core drilling at Boyd North was carried out during the March quarter with the completion of 37 holes for a total of 2,953m.
The exercise confirmed a “generally north-striking zone” of gold mineralisation over 600m-long extending from the northern end of Boyd’s Dam.
The Boyd North zone is believed to have a slightly different strike direction to the main Boyd’s Dam Zone, with shallow basement depths ranging from 21m to 52m.
Catalyst technical director Bruce Kay said Boyd North is at a “much earlier stage of understanding” than the adjoining Boyd’s Dam, and will be subject to future angled reverse circulation, air core and diamond drilling activities.
“The air core program has increased our understanding of the gold mineralisation but the nature of the structures and the relationship with Boyd’s Dam are still uncertain,” he said.
“Much more drilling will be required.”
The Four Eagles joint venture project covers an envelope of gold mineralisation along the Whitelaw fault corridor north of Bendigo.
Project ownership and exploration expenditure is shared 50:50 between Catalyst and Gold Exploration Victoria Pty Ltd, a wholly-owned subsidiary of Hancock Prospecting Pty Ltd.
Catalyst manages the entire Whitelaw gold belt and has interests in 11 exploration licences and two retention licences over 75km of the Whitelaw and Tandarra faults, as well as in other areas north of the neighbouring Fosterville and Inglewood gold fields.
At mid-morning, shares in Catalyst were up 6.53% to $2.04.