Company Announcements Office Australian Stock Exchange Limited 4th Floor 20 Bridge Street SYDNEY NSW 2000 Dear Sir or Madam, EXCITING NEW URANIUM TARGETS AT MINNIE CREEK • Michelles Well exploration licence granted • Covers area of 330km2 within Minnie Creek Project area • Calcrete and hard rock uranium targets identified Catalyst is pleased to announce that the Michelles Well exploration licence, which is located within the Minnie Creek project area and is 330km2 in area, has been granted. This tenement is an important land holding within Minnie Creek as it covers a host of uranium, copper and gold prospects identified by historic workings and radiometric surveys. Several areas of calcrete prospective for palaeo-channel uranium mineralisation have been outlined by previous field reconnaisance, geological mapping and airborne radiometric surveys. Previous limited exploratory drilling for uranium at one of the calcrete prospects has shown that within the project area they can attain thicknesses of 12 metres. Such calcrete deposits are attractive targets for Yeelirie-style uranium deposits (35mt at 0.15% U3O8) and exploration to test for these and other primary hosted deposits of uranium are scheduled to commence in the new field season. Catalyst Metals Ltd. ASX Code: CYL Capital Structure CYL Ordinary Shares 23,000,000 Incentive Shares 8,000,000 Options 11,500,000 (20 cent) expiring Dec 2008 Cash Balance Dec 06 $2,900,000 Contact Details T +61 8 9415 1714 F +61 8 9481 2200 Level 1, 89 St.George’s Tce PERTH WA 6000 GPO Box 2508 PERTH WA 6000 Further Information [email protected] www.catalystmetals.com Catalyst Metals Ltd ASX Release ! ! ! ! ! ! ! ! Date 20/2/07 No. of pages lodged: 4 The uranium prospects are identified on the attached map and include: - Lisa Prospect, which is a strong discrete 2km uranium-channel airborne radiometric anomaly amongst 8km of Tertiary age calcrete deposits at the confluence of the Mangaroon Creek, Lyons River and Minnie Creek drainages. Minor historic drilling targeting uranium showed the calcrete in this location to attain thickness of 12m. - Veronica Prospect, which is a 10km x 3km zone of uranium-channel airborne radiometric anomalies in granitoids and associated drainage systems with potential for outcropping and near surface uranium mineralisation in recent sediments including calcrete, as well and basement rocks. This area occurs along sheared and faulted granitoids and metasediments, within a regional scale tectonic lineament, providing a target for primary uranium deposits in the underlying basement. It is noted that recent activity by Aurora Minerals is targeting uranium mineralisation in the Minnie Creek area, where they have reported significant results from historical work. Their prospects lie in the same drainage system that runs through Catalyst’s Michelle Well licence for 8km and are potentially related to the calcrete hosted Lisa uranium prospect. The Michelles Well licence also contains historic workings for copper and gold that have received only cursory exploration in the past. Exploration is now able to commence at the Michelles Well copper prospect where a historic 'pit' has exposed granite-hosted copper mineralisation flanked by zones of historic gold and barite workings, suggestive of a larger mineralised system present in the prospective intrusive rocks. These base and precious metal prospects extend 55km along strike of the Minnie Springs mineralisation where a large hydrothermal system containing molybdenum, copper and tungsten has been outlined by Catalyst. Work to test for porphyry-style deposits will be undertaken as high priority on the Michelles Well exploration licence. Catalyst looks forward to testing the uranium targets in conjunction with work on its molybdenum, copper, gold and tungsten prospects in the upcoming field season. Yours faithfully Mark Thompson Executive Director - Exploration For further information on the company please visit www.catalystmetals.com Catalyst Metals Ltd. ASX Code: CYL Capital Structure CYL Ordinary Shares 23,000,000 Incentive Shares 8,000,000 Options 11,500,000 (20 cent) expiring Dec 2008 Cash Balance Dec 06 $2,900,000 Contact Details T +61 8 9415 1714 F +61 8 9481 2200 Level 1, 89 St.George’s Tce PERTH WA 6000 GPO Box 2508 PERTH WA 6000 Further Information [email protected] www.catalystmetals.com ASX Release ! ! ! ! ! ! ! ! Date 20/2/07 page 2 of 4 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. About Catalyst Metals Ltd Catalyst is an ASX listed mineral explorer focussed on the highly prospective Minnie Creek project in Western Australia, where significant new mineralised zones of molybdenum, gold, copper, tungsten and uranium have been recently discovered within a 972km2 area. Catalyst has cash on hand to aggressively test these discoveries and a capital structure designed to offer investors high leverage to further exploration success. About Molybdenum Molybdenum (chemical symbol Mo - commonly called “Moly”) is a silvery-white metal used primarily to increase the strength and durability of steel, producing steel alloys such as stainless steel and corrosive resistant pipelines for the gas and oil industries. It is finding growing ‘clean technology’ use as an important catalyst to ‘crack’ hydrocarbons and clean up low-quality fossil fuels. In the energy market molybdenum is in demand where its strength and high melting point suit use in linings and pipes for both nuclear fission reactors and experimental nuclear fusion reactors. Molybdenum is obtained principally from porphyry-type deposits and occurs in very low grade percentages. Primary molybdenum operations such as Endako in B.C mine grades of 0.06% Mo to depths of 300m open pit. The price of molybdenum has increased over 500% since 2000 on increasing consumption and dwindling supply. Main producers include Rio Tinto, Teck-Cominco, Phelps Dodge, Codelco and Jinduicheng. In 2006 the production of 3 primary mines and 6 byproduct mines in North America alone was 60,500 tonnes worth US$3.2 billion. Molybdenum is not traded on the LME but is exchanged by private contract. Price information can be obtained at www.platts.com Catalyst Metals Ltd. ASX Code: CYL Capital Structure CYL Ordinary Shares 23,000,000 Incentive Shares 8,000,000 Options 11,500,000 (20 cent) expiring Dec 2008 Cash Balance Dec 06 $2,900,000 Contact Details T +61 8 9415 1714 F +61 8 9481 2200 Level 1, 89 St.George’s Tce PERTH WA 6000 GPO Box 2508 PERTH WA 6000 Further Information [email protected] www.catalystmetals.com ASX Release ! ! ! ! ! ! ! ! Date 20/2/07 page 3 of 4 Plan. Tenements and Uranium prospects on U-radiometrics, Minnie Creek Project. ASX Release ! ! ! ! ! ! ! ! Date 20/2/07 page 4 of 4 Catalyst Metals Ltd. ASX Code: CYL Capital Structure CYL Ordinary Shares 23,000,000 Incentive Shares 8,000,000 Options 11,500,000 (20 cent) expiring Dec 2008 Cash Balance Dec 06 $2,900,000 Contact Details T +61 8 9415 1714 F +61 8 9481 2200 Level 1, 89 St.George’s Tce PERTH WA 6000 GPO Box 2508 PERTH WA 6000 Further Information [email protected] www.catalystmetals.com
CYL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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