Catalyst Metals (ASX:CYL) has been granted an ASX trading halt in relation to discussions on a potential material joint venture agreement.
The halt will last until the earlier of the announcement being made or the start of trade on Monday, 16th March 2015.
The company has continued to consolidate its strong tenement holdings along the Whitelaw Gold Belt in Victoria so it can participate in any future gold discoveries.
Seismic and gravity data suggest that this large fault structure controlled the formation of the Bendigo gold deposits (historically approximately 22 million ounces of gold produced at a grade of 15 g/t Au) as well as gold mineralisation at both the Four Eagles and Tandarra Gold Projects.
Catalyst is also seeking the renewal of the EL4525 over the Four Eagles Gold Project. This will be followed by a ground seismic refraction survey to cover the key areas of the Hayanmi, Boyd’s Dam and Discovery Prospects.
Proposed drilling in 2015 includes reverse circulation holes on the defined mineralised areas at
Hayanmi and Boyd’s Dam. Most drilling will be angled in order to pass through the total extent of the interpreted vertical structures.
The other component of the exploration program will be infill angled aircore drilling along the northern extension of the Hayanmi Prospect covering a strike length of about 2 kilometres.
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