Catalyst’s third Plutonic Belt mine ready for development
All regulatory approvals are in hand for Catalyst Metals to begin mining at the Trident gold deposit, about 30 km from the Plutonic processing plant, in Western Australia.
This follows final environment approval from the Department of Energy, Mines, Industry Regulation and Safety.
“Trident has been inching closer to development for some time. This milestone makes it more real,” said Catalyst MD and CEO James Champion de Crespigny in a statement on Friday.
Grade control drilling of the openpit is complete – with a grade control rig having been mobilised in January. The award of the openpit mining contract is expected in the coming weeks.
“We now have all the mining approvals in place to allow Catalyst to bring online the mines necessary to double production at the Plutonic Gold Belt,” said Champion de Crespigny.
Trident is an undeveloped gold deposit with resources of 524 000 oz at 3.6 g/t and reserves of 188 000 oz at 4.4 g/t. The A$15-million project comprises a small openpit followed by an underground mine, with ore processed at the underused Plutonic processing plant.
Trident currently has a five‐year mine plan at 37 000 oz/y and average yearly cashflow of A$53-million.
Trident is the third mine to be developed as part of Catalyst’s three‐year plan to double production at the Plutonic Gold Belt for A$31-million.
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