Catalyst hits high-grades at Four Eagles

THE DRILL SERGEANT: Catalyst Metals has recorded its highest gold assay to date, occurring in diamond drillhole FEDD008 at the Discovery prospect located at the company’s Four Eagles gold project in Victoria.

The drilling hit a narrow zone of quartz, which contained 0.2 metres at 152 grams per tonne gold from 150 metres.

 

Four Eagles gold project drilling locations and results. Source: Company announcement

 

The company indicated it considered additional quartz with gold mineralisation may be present as the intersection lies close to the contact with the overlying Murray Basin sediments and is incomplete because the upper part of the zone was within the rotary mud section of the pre-collar and was not sampled.

The drilling also encountered high-grade intervals in a second diamond drillhole FEDD007, which contained two narrow high grade intervals, including:

–    0.20 metres at 1.35 grams per tonne gold from 160.3 metres;

–    0.40m at 16.20g/t gold from 167.7m;

–    0.75m at 15.30g/t gold from 170.4m; and

–    0.45m at 1.04g/t gold from 183.95m.
 
Catalyst said the results from these two drillholes confirm the presence of several parallel zones of narrow high-grade gold mineralisation on the Eagle 2 Structure, where another diamond drillhole – FEDD001 contained 0.8m at 17.5g/t gold from 170m and an aircore hole contained 6m at 82.7g/t gold from 123m.

“These results are extremely significant and confirm the high grades intersected in previous aircore drilling,” Catalyst Metals technical director Bruce Kay said in the company’s announcement to the Australian Securities Exchange.

“Gold is related to shear zones with brecciated quartz veins. The gold in FEDD007 appears to be a steep zone present on the eastern limb of an anticlinal structure. The setting of the gold in FEDD008 is probably on a steep westerly limb of the same anticline.

“The drilling has also confirmed the presence of a steep fault zone which is probably the regional Tandarra Fault and contains sporadic high grade gold values (as in FEDD001) and anomalous arsenic.”

So far the first half 2012 aircore and diamond drill program conducted by Catalyst has upgraded three prospects at Four Eagles which lie on three separate trends.

The company anticpates the Boyd’s Dam prospect on Eagle 4 trend, the Hayanmi prospect on Eagle 3 trend and the Discovery prospect on Eagle 2 trend (where this diamond drilling was undertaken) will all require further angled diamond or RC drilling as well as additional vertical infill aircore drilling.

Catalyst considers the prospects represent only a small part of the total area of the gold footprint at Four Eagles.