catalyst discovers new gold target at minnie creek

ASX Release
3 November 2006
No. of pages lodged: 3
Via Electronic Lodgement
ASX code: CYL
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
CATALYST DISCOVERS NEW GOLD TARGET AT MINNIE CREEK
- Up to 21.5g/t Au at surface
Catalyst Metals Ltd (“Catalyst”) (ASX code: CYL) is pleased to announce further
exciting results from recent exploration at the Minnie Creek project in the
Gascoyne region of Western Australia.
The ‘Woods’ prospect was one of four new zones of gossanous outcrop
discovered during reconnaissance soil and rock geochemical surveys and
announced to the ASX on 20 September 2006.
Assay results received from 5 samples of the discovery gossan at ‘Woods’ were
significantly anomalous for gold and copper, with the gold grade ranging from
0.15g/t Au to 21.5g/t Au. Each sample was a rock grab of 1-2kg from outcrop
and details are in table 1 below.
Table 1.
The outcrop occurs as a 50m long area of massive gossan, sulphidic chert and
quartz veining exposed on the edge of a creek system, within a zone of
structurally disrupted granite expressed as an aeromagnetic geophysical
anomaly.
SAMPLE NORTHING EASTING Au g/t Cu ppm
CR6050 7334339 377432 21.50 2240
CR6051 7334334 377435 0.49 428
CR6052 7334327 377433 0.30 260
CR6053 7334311 377431 0.15 179
CR6054 7334336 377437 1.09 290
These gold grades are amongst the highest returned to date from the 972Km2
project area held by Catalyst, where a number of gold and polymetallic
gossans have been located since 1995. Some of the most notable gold
prospects include:
‘Neptune’ - a sulphidic vein stockwork discovered in granite returned anomalous
gold and copper values up to 7.0 g/t Au.
‘Harpo’ – an untested 1500m to 4000m long gold in soil anomaly along a
sheared and altered granite/metasediment contact.
From the perspective of the exploration potential of the Minnie Creek project
area it is very encouraging that all 5 chip samples were anomalous in gold and
copper. Nevertheless, much more work is required to determine the significance
of the zone.
In this regard these prospects will be further explored in the upcoming field
seasons in conjunction with work progressing the Minnie Springs molybdenum
prospect, where drilling is scheduled to commence shortly.
(Samples were analysed by ALS Chemex in Perth for Cu by 4-acid digest/ICPAES
finish and for Au by 30gm charge Fire Assay with AAS.)
Yours faithfully
Howard Dawson
Chairman
For further information on the company visit www.catalystmetals.com
Please direct enquiries to:
Mark Thompson – Exploration Director
Phone +61 8 9415 1714
Mob 0424 043 380
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.
FIGURE 1.
LOCATION OF NEW ‘WOODS’ PROSPECT AND OTHER TARGETS WITHIN MINNIE CREEK PROJECT