re: nice results from minnie..reopen 11.08 ASX Release10 January...

re: nice results from minnie..reopen 11.08 ASX Release
10 January 2006
No. of pages lodged: 3
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
ENCOURAGING INITIAL DRILL RESULTS FROM MINNIE SPRINGS MOLYBDENUM DISCOVERY
Including 52 Metres Grading 0.07% Mo (3.2 g/t Au equivalent) From 10 Metres
Assay results from seven of the eighteen holes completed in the recent drilling
programme at Minnie Springs have been received.
These initial assay results, which are from drill holes situated along the central section
of the mineralised area, show Mo mineralisation is present over significant widths with
higher grade sections contained within these zones.
Hole MRC 8 for example intersected 34 metres @ 0.07% Mo (gold equivalent 3.4g/t)
from 32m including 16 metres @ 0.10% Mo (gold equivalent 4.9g/t) from 32 metres and
hole MRC 10 recorded 52m @ 0.07% Mo (gold equivalent 3.4g/t) from 10m including
20 metres @ 0.12% Mo (gold equivalent 5.8g/t) from 24 metres. Hole MRC 13
intersected 52 metres @ 0.05% Mo (gold equivalent 2.4 g/t) from 68 metres.
The mineralisation was also shown to be persistent at depth with hole MRC
intersecting 14 metres @ 0.07% Mo (gold equivalent 3.4g/t) from 106 metres to end of
hole.
Drilling was by reverse circulation to maximum hole depths of 121 metres and all of
the holes reported in this release were inclined at 60 degrees.
Drill samples, which were collected every metre and composited to two metres for
analysis were assayed for molybdenum (Mo) by the XRF pressed powder method.
The drilling results are summarized on the attached table and a drilling plan showing
the location of all holes in the programme has been included as figure 1.
Although these drilling results are preliminary only and represent less than 50% of the
programme completed the results nevertheless confirm that the exploration target of
a bulk tonnage ore body is the correct interpretation for the Minnie Springs discovery.
The remaining drilling results are expected later this month.
Howard Dawson
Chairman
For further information on the company visit http://www.catalystmetals.com
Please direct enquiries to:
Mark Thompson – Exploration Director
Phone +61 8 9415 1714
Information in this report has been reviewed by a Competent Person as defined in the JORC Code, being Mr Howard
Dawson B.App.Sc SFFINSIA AIG, who has sufficient experience in mineral resource estimation relevant to the style of
mineralisation and type of deposit under consideration and to the activity to which he is undertaking, and consents to
the inclusion in the public release of the matters based on their information in the form and context in which it appears.
Gold equivalents are calculated using current published prices of Technical Moly Oxide (MoO3) at US $24.50/lb and
Gold US $607/oz. Technical Moly Oxide is approximately 57% Mo.
Table 1.
Hole ID
Location
(AGD84)
Depth Azimuth Dip Intersections Length % Mo
Equiv.
Au g/t
North East From (m) To (m) (m)
MRC 7 7319295 393578 120 225 -60 10 112 102 0.03 1.5
including 10 34 24 0.07 3.4
which included 20 28 8 0.17 8.3
MRC 8 7319230 393541 120 360 -60 0 106 106 0.04 1.9
including 32 66 34 0.07 3.4
which included 32 48 16 0.10 4.9
and 94 106 12 0.07 3.4
MRC 9 7319252 393671 121 225 -60 18 104 86 0.02 1.0
MRC 10 7319210 393635 120 225 -60 0 120 120 0.05 2.4
including 10 62 52 0.07 3.4
which included 24 44 20 0.12 5.8
MRC 11 7319173 393601 109 225 -60 0 14 14 0.03 1.5
MRC 12 7319290 393510 120 225 -60 0 58 58 0.03 1.5
including 46 48 2 0.14 6.8
including 56 58 2 0.18 8.7
MRC 13 7319324 393544 120 225 -60 4 120 106 0.03 1.5
including 68 120 52 0.05 2.4
Fig 1.
Plan of drillhole locations over geochemistry at Minnie Springs prospect.