Catalyst Metals says its ability to access the barely-explored Cradle Zone at its Henty gold mine in Tasmania is pointing to resource and production growth (reports MiningNews).
The 1km-long and 400m-deep zone sits above the existing workings, but has been largely ignored by the miner’s owners, despite its relative shallowness, due to poor access.
With Catalyst improving access with a number of exploration drives, it has been able to allow underground drilling for the first time.
Its first assays have delivered good high-grade results headlined by 4.6m at 56.7 grams per tonne gold and 220gpt silver.
Other assays included 3.3m at 18.2gpt gold, 4.2m at 10.2gpt gold, and 2.1m at 28.5gpt gold and 114gpt silver.
A peak silver intercept of 600gpt was also recorded, with copper, lead and zinc described as “elevated” in the hanging wall.
Catalyst technical director Bruce Kay said the drilling has defined mineralisation over two parallel zones, over about 500m of strike.
An exploration target is being prepared. The Cradle Zone sits outside the 357,000 ounce at 4.4gpt Henty resource.
The three zones immediately down-dip – Zone 15, Newton Tyndall and Intermediate – have produced over 200,000oz of gold.
Kay is hopeful of a maiden resource being developed fairly rapidly, as it seeks to increase production and benefit from the 300,000tpa mill.
The miner secured the mine in early 2021, and increased 2022 financial year production to 25,199oz.
It aims push production to 35,000oz by the end of FY23.
The plant can support that rate with no further investment needed.
