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Catalyst Metals : High grade gold intersections at Four Eagles project (3.51 Mb)

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07/28/2016 | 03:01am CEST
ASX ANNOUNCEMENT 28 JULY 2016 HIGH GRADE GOLD INTERSECTIONS CONTINUE FROM RC DRILLING AT FOUR EAGLES GOLD PROJECT

The longitudinal projection in Figure 4 suggests that the gold mineralisation has a generally flat or gentle plunge, possibly to the south but this cannot be confirmed without diamond drilling. These flat or gentle plunges are a characteristic of the total Bendigo-Fosterville district because the mineralisation is generally related to the intersection of steep fault structures with gently plunging anticlines. It is informative to look at this early stage information at Hayanmi in comparison to known gold mineralisation structures at Bendigo and Fosterville. On Figures 5 and 6, the current longitudinal projection at Hayanmi is shown at the same scale as the Bendigo New Chum lode and Fosterville respectively. Each of these known ore deposits contained gently plunging shoots that contained greater than one million ounces of gold over similar strike lengths to that observed at Hayanmi. It is hoped that further drilling at Hayanmi will better define the ore shoots within this 2.9 kilometre long structure.

It is also likely that the Boyd's Dam and Discovery gold zones at the Four Eagles Gold Project will have similar plunging morphology but additional future drilling will be required to establish this.

All of the assays quoted above have been obtained using a 25 gram sub-sample and an Aqua Regia digest followed by ICP-MS analysis but anomalous assays are being re-assayed by bulk leaching the total

± 2 kilogram sample. This provides an excellent check of the variability of gold at the Four Eagles Gold Project which tends to be fine grained and shows a low "nugget effect" compared to the Bendigo Goldfield.

Mr Bruce Kay, Catalyst's Technical Director, stated, "It is disappointing that more drilling could not be completed before the start of the wet season but the Four Eagles Joint Venture will be well placed to resume drilling on this prospective trend after the crops have been harvested in December 2016".

Full location data on the 17 RC Blade/hammer holes is shown on Table 1 and a Summary of Sampling Techniques and Reporting of Exploration Results according to the JORC Code 2012 Edition are tabulated in Appendix 1. Previous intersections shown on Figures 2a, 2b and 3 have been reported under the 2004 JORC Code. Maximum gold values in each hole are tabulated in Appendix 1.

For further information contact:

Steve Boston Bruce Kay

Chairman Technical Director

Telephone: +61 409 574 515 +61 400 613 180

Competent person's statement

The information in this report that relates to exploration results is based on information compiled by Mr Bruce Kay, a Competent Person, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Kay is a non-executive director of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Kay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Much of the historical information relating to the Four Eagles project was prepared and first disclosed under the JORC Code 2004. This information has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was reported.

Figure 1: Four Eagles Gold Project Location Map id="public_disclaimer" style="margin: 32px 0px 64px 0px; padding: 0px;"> id="public_disclaimer_inner" style="margin: 0px; padding: 8px 0px 0px 0px; max-width:600px; background-color:#FFFFFF; border-top-style:solid; border-top-color: #D7D7D7; border-top-width: 1px"> id="public_disclaimer_desc" style="margin: 0px; padding: 0px 0px 0px 48px; background-image: url(http://docs.publicnow.com/logo.asp?PublicItemID=30064253&PublicSourceID=7849); background-position: center left; background-repeat:no-repeat; background-color:#D7D7D7"> style="margin: 0px 0px 1px 0px; padding: 0px 0px 0px 8px; color: rgb(147, 147, 147); font-family: Helvetica; line-height: 16px;font-size: 13px; background-color:#FFFFFF;">Catalyst Metals Limited published this content on 28 July 2016 and is solely responsible for the information contained herein. /> Distributed by Public, unedited and unaltered, on 28 July 2016 01:01:02 UTC.

id="public_disclaimer_att" style="margin: 0px 0px 0px 0px; padding: 0px 0px 0px 0px;"> style="margin: 0px; padding: 4px 0px 0px 0px; color: rgb(147, 147, 147); line-height: 18px; font-family: Helvetica"> style="border:solid; border-color:#939393; border-width:1px; padding:1px 3px 0px 3px; font-size: 10px; text-transform:uppercase; font-weight: bold;">Original document
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