Catalyst Metals announces maiden Ore Reserve Estimate for Trident Deposit

Catalyst Metals Limited (ASX: $CYL) has announced the maiden Ore Reserve Estimate (ORE) for the Trident Deposit, forming the basis for the company's updated development plan for Trident. The Trident ORE is 1.3 Mt at 4.5 g/t Au for 188koz and includes an open pit ORE of 0.1Mt at 1.4g/t Au for 6koz. This small open pit will be the basis of Catalyst's new development strategy, significantly changing the upfront capital profile for Trident.

Executive Commentary on Trident Development

Catalyst's Managing Director & CEO, James Champion de Crespigny, stated, 'The stable operating platform at Plutonic has afforded our team the time to optimise Trident's development. As a result, we have seen the capital requirements for the development of this new underground mine reduce significantly. Last week we announced the capital costs to restart the Plutonic East underground were also reducing. These two near term low cost development projects, and Catalyst improving balance sheet, make for both a more balanced company well positioned to materiality increase gold production.'

Summary of Trident Development and Outlook

The Trident maiden Ore Reserve Estimate includes a small open pit, reducing both the cost and execution risk of the mine's development. Cashflows from the open pit reduce the maximum upfront capital drawdown to A$15m. The development approach has a more manageable upfront capital profile, and Catalyst's strong operational cashflows from existing operations provide it with flexibility to fund Trident's development. The production profile underpinning the production target is supported by 85% of probable Ore Reserves and 15% of inferred material. The company aims to increase gold production and has a strong record of raising capital, positioning it well for future growth.