Key points
- Trident Reserve increased by 30% to 524koz at 4.2g/t Au
- Anticipated ±10 year mine life with annual production of 60-80koz
- Part of Catalyst's plan to reach a 2Moz Reserve target
- Development of Trident underground mine underway, first ore expected in CY2027
- Trident expected to be second-largest deposit on Plutonic Belt
Full summary
Catalyst Metals Limited (ASX:CYL) announced a significant increase in the Ore Reserve for its Trident underground gold deposit on the Plutonic Gold Belt in Western Australia. The Reserve has grown by 30% to 524koz at 4.2g/t Au, with an anticipated ±10 year mine life at a steady state annual production rate of 60-80koz. This development is a crucial step towards Catalyst's goal of defining a ±2Moz Reserve to support a long-term, sustained production rate of ±200koz per annum for 10 years. The Trident underground mine is currently in the development phase, with 250m of development completed. First ore is expected in CY2027. Trident is expected to form a second, higher grade base load ore source to the central Plutonic processing plant.
Guidance
Catalyst Metals aims to increase Reserves and production from 1.5Moz to ±2Moz and ±100koz to ±200koz annually.
Outlook
Catalyst Metals is focused on increasing Reserves and production to support a long-term, sustained production rate of ±200koz per annum for 10 years.