Catalyst hits Four Eagles gold
THE DRILL SERGEANT: ASX-listed gold and molybdenum exploration play Catalyst Metals has intersected further high-grade gold mineralisation at its Four Eagles gold project in central Victoria.
The results come from aircore and diamond drilling programs carried out by the company between March and May this year.
The best intersection Catalyst received was 9.0 metres at 7.1 grams per tonne gold from 75m, including 3.0m at 15.3g/t gold from 81 metres and 3.0 metres at 5.5g/t gold from 75 metres.
Other results returned intersections within the 0.5 to 1.4 g/t gold range.
Together with arsenic geochemistry and quartz vein distribution Catalyst has been able to delineate at least three parallel zones of gold mineralisation at the Four Eagles gold project.
“The 2011 aircore drill program has identified at least three parallel gold trends with high grade gold mineralisation intersected on each zone,” Catalyst Metals technical director Bruce Kay said in the company’s ASX announcement.
“Gold is mostly associated with quartz veins and assay variability suggests that it is quite nuggety in character, similar to that encountered in the Bendigo goldfield.
“For this reason, assays above 0.5 grams per tonne gold are considered very significant as our drilling has shown that these values are often in close proximity to high grade gold intersections.
“All drilling other than two diamond drillholes and two aircore holes has been vertical so it is highly encouraging that we have intersected so many vertical quartz veins with high grade gold values at such wide drill spacing.”
Catalyst will be attempting to have all data from the drilling program compiled and interpreted before the end of July.
The company said its next stage of exploration will most likely involve angled reverse circulation (RC) or diamond drilling to test the extent of high grade gold mineralisation along these trends.
A second stage of the aircore program to test the remaining 20 kilometres of strike length of the gold trend on Catalyst tenements will also recommence before the end of the December 2011 quarter.