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Catalyst Metals starts 20,000-meter drilling program at Four Eagles gold project

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Catalyst Metals starts 20,000-meter drilling program at Four Eagles gold project

Catalyst Metals Ltd. on Jan. 27 said it started a 20,000-meter reverse circulation blade/hammer and aircore drilling program at the Four Eagles gold project in Victoria, Australia.

The initial focus of the program will be on the Boyd's Dam to Boyd North trend, where previous exploration has shown potential gold mineralization over a 1.6-kilometer strike length. The program is expected to continue until April or May.

The company discovered the Boyd North deposit in a reconnaissance drilling program completed in March 2016, in which it returned an intercept of 3 meters at 154.0 g/t of gold from 96 meters.

Meanwhile, Catalyst Metals also said Gold Exploration Victoria Pty. Ltd. already earned 25% of Four Eagles from Providence Gold & Minerals Pty. Ltd. after spending A$2.1 million on exploration activities. Gold Exploration Victoria is expected to earn the remaining 25% stake under its option agreement with Providence Gold during 2017 by spending another A$2.1 million.