Announcement Date: 2022-11-08
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Catalyst Metals Ltd.
Project name: Henty
Location: Australia
Commodities: Gold
Highlight: Initial Reserve 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 an initial JORC 2012 compliant Ore Reserve Estimate of 983,000t at 3.6g/t for 115,000oz at its Henty Gold Mine in Tasmania. Catalyst Managing Director & CEO, James Champion de Crespigny said: “This Reserve is key strategic milestone for Henty because it underpins our growth plan and highlights the project’s increasingly strong future. “This is shown by the fact that we have been able to convert 55% of the Indicated Resource to Ore Reserve. Importantly, the anticipated Henty mine life now extends beyond five years using a mine plan which incorporates the increased production rates being targeted in coming years”. This maiden Reserve follows the recently released Mineral Resource Estimate (Refer ASX release dated 27 September 2022) which showed that after accounting for the Financial Year 2022 production, there was an increase of 10% in the operation’s Mineral Resource and a 20% increase in Resources since Catalyst acquired Henty in January 2021. The 2022 Reserve has been derived from the Mineral Resource models using ore classified in the Indicated category. Individual stopes may contain up to 20%
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