Diamond Drilling Continues To Intersect Gold Mineralisation
Catalyst Metals Limited (ASX: CYL) has intersected further gold mineralisation with visible gold being recorded in four of the nine diamond drill holes completed at Boyd’s Dam at the Four Eagles Gold Project near Bendigo, in Victoria, Australia.
To date assays have only been received for four holes two of which have significant intersections:
- 1.35m @ 117.0g/t Au from 326.1 m;
- 2.4m @ 7.1g/t Au including 0.3m @ 22.5g/t Au and 0.3m @ 33.8g/t Au from 107.5m; and
- 8.8m @ 2.7g/t Au from 68.0m including 0.3m @ 17.2g/t Au and 0.75m @ 13.8g/t Au.
At Boyd North, where previous drilling was limited to the top 100m, two diamond drill hole, 100m apart, have intersected a strong structure with quartz veining, arsenopyrite and visible gold at 347m and 338m down hole respectively
. Although no assays are yet available, these intersections may represent a stacked repetition of the shallow gold zone at Boyd North which is typical of many Victorian gold deposits.
Eight RC drill holes have been completed with two holes reaching depths of greater than 320m. No assays have yet been received.
The Four Eagles Gold Project is situated along the Whitelaw Gold Corridor which is considered to be a major structural control of gold mineralisation north of Bendigo. Catalyst manages the entire Whitelaw Gold Belt and has interests in thirteen Exploration Licences and two Retention Licences which extend for 75 km along the Whitelaw and Tandarra Faults north of Bendigo in Victoria and in other areas north of the Fosterville and Inglewood gold fields.
Catalyst holds a 50% interest in the Four Eagles Gold Project with the other 50% held by Gold Exploration Victoria Pty Ltd (GEV) (a wholly owned subsidiary of Hancock Prospecting Pty Ltd). Exploration is jointly funded by Catalyst and GEV.
Two diamond drill rigs and one RC drill rig are operating at Boyd’s Dam and Boyd North.
“It is very encouraging to intersect quartz structures with visible gold in four of the nine diamond drill holes completed so far this year, especially considering the wide spaced nature of the drilling,” Catalyst Technical Director, Bruce Kay, said.
“The discovery of a new deep structure beneath Boyd North adds to the potential of the whole mineralised system.”
Air core and diamond drilling are in progress at the Tandarra Gold Project and a regional air core drilling programme is being undertaken at the Drummartin Project north of Fosterville.