General News
3 October, 2022
Invisible and golden
AN EXPOLORATION tunnel at Catalyst Metals’ Four Eagles project would be invisible but important, said the company’s CEO John McKinistry. Catalyst is edging closer to making a decision to move exploration underground and Mr McKinstry said it would...
AN EXPOLORATION tunnel at Catalyst Metals’ Four Eagles project would be invisible but important, said the company’s CEO John McKinistry.
Catalyst is edging closer to making a decision to move exploration underground and Mr McKinstry said it would be “almost pushing the limits of exploration”.
“But it’s what we are planning to do. We don’t want to spoil it for anyone else and we will do it well,” Mr McKinstry said on a visit to the district this month.
“In many ways, the tunnel would be invisible to the public.”
In the latest report to the Australian Stock Exchange, Catalyst said it expected to make a final decision on the Mitiamo tunnel proposal next year.
Technical director Bruce Kay said: “These latest results provide more strong evidence of the excellent potential at the Four Eagles Gold Project and therefore support our plan to establish an exploration tunnel.
“The tunnel would enable us to drill from underground, providing a far more efficient and effective means of exploring for the extension of the rich Bendigo Goldfield,” he said.
“We are continuing to drill with the aim of building a clear picture of this potential ahead of a final decision on the exploration tunnel in the middle of next year”.
He said the latest drilling focussed on targets close to the extensive Boyd’s Dam mineralisation and below the emerging Hayanmi prospect
“In a new area, Boyd East, which sits approximately 300 metres east of the existing Boyd’s Dam mineralisation diamond drilling has intersected a large quartz fault. This structure is similar to that observed at Boyd’s Dam and indicates the potential for a parallel target zone in close proximity to Boyd’s Dam. Drilling is currently underway to further test the structure at depth and along strike. Results from this drilling are expected in the coming months.
“Further drilling at Boyd North has verified mineralised structures which too, may become a key mining position,” he said.