Approval received for Trident early works

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Sep 19, 2023, 08:00 ET

Plutonic Gold Belt, Western Australia

Mining Proposal for Small Mining Operations approved by DMIRS

Key Points

Approval will allow early works including portal construction and decline development
De-risks project schedule by allowing early works to commence ahead of final mining approvals
Recent Trident Scoping Study demonstrated potential for high grade (6.7 g/t head grade), low AISC (A$1,046/oz) and low capital intensity (pre-production capital of A$36m) project

PERTH, Australia, Sept. 19, 2023 /PRNewswire/ - Catalyst Metals Limited (Catalyst) (ASX: CYL) is pleased to announce that the Trident deposit Mining proposal for Small Mining Operations has been approved by the Department of Mines, Industry Regulation and Safety (DMIRS).

This Mining Proposal provides Catalyst with the regulatory approval to commence portal construction and decline development from the existing Marwest open pit towards the Trident deposit. It also enables platforms for underground exploration drilling (Figure 1).

Figure 1: Trident long section illustrating portal location and decline design (CNW Group/Catalyst Metals LTD.)

With the Mining Proposal approval, Catalyst is well positioned to commence early works upon completion of the Trident definitive feasibility study (DFS) and final investment decision (FID), which is expected in CY2024.

Catalyst's Managing Director & CEO, James Champion de Crespigny, commented:

"This is an important milestone for Catalyst. Completion of the DFS is fast approaching.

Subject to FID, this approval will allow us to commence early works at the Trident deposit. Importantly, this de-risks the project schedule by allowing critical construction works to commence while final mining approvals are sought."

This announcement has been approved for release by the Board of Directors of Catalyst Metals Limited.

Catalyst Metals

Catalyst Metals controls three highly prospective gold belts. It has a multi asset strategy.

It owns the 40km long Plutonic Gold Belt in Western Australia hosting the Plutonic gold mine and neighbouring underexplored, high-grade resources.

It also owns and operates the high-grade Henty Gold Mine in Tasmania which lies within the 25km Henty gold belt. Production to date is 1.4Moz @ 8.9 g/t.

Catalyst also controls +75km of strike length immediately north of the +22Moz Bendigo goldfield and home to high-grade, greenfield resources at Four Eagles.

Capital Structure

Shares o/s: 219m
Options: 1.4m
Rights: 2.5m
Cash: $31.8m
Debt: $32.8m

Board Members

Robin Scrimgeour
Interim Non-Executive Chairman

James Champion de Crespigny
Managing Director & CEO

Bruce Kay
Non-Executive Director

Corporate Details

ASX: CYL
E:[email protected]
W:catalystmetals.com.au
T: +61 8 6107 5878

SOURCE Catalyst Metals LTD.