| Announcement Date: | 2022-09-27 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Catalyst Metals Ltd. |
| Project name: | Henty |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Catalyst Metals Limited (Catalyst) (ASX:CYL) is pleased to announce that the Resource at its Henty Gold Mine in Tasmania has increased by more than 10% to 368,000oz at 4.3 g/t (See Figure 1). The increase in resources accounts for depletion from FY22 production. The Catalyst Board has approved a significant explora�on programme and budget at Henty in FY23, with the strategic objec�ve of iden�fying future produc�on zones. It is expected that the results of this ac�vity will be reflected in future Mineral Resource updates. Table 1 below details the Mineral Resource es�mate which has been reported in accordance with the JORC Code. The Henty Gold Mine is located 23 kilometres from the town of Queenstown in north western Tasmania, consisting of an underground mine and a nameplate capacity 300,000tpa conventional CIL processing plant. Catalyst acquired 100% of the Henty Gold Mine and regional exploration tenements, in January 2021. Since acquisition, Catalyst has been pursuing a strategy to increase mining inventory to support higher gold production and lower costs. Catalyst has invested heavily in exploration and is currently undertaking an update in its Reserve and Resource estimates. |
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