Catalyst Metals (ASX: CYL) has reported a promising update from the Trident Gold Project, where recent step-out and infill drilling has significantly expanded the mineralised footprint — and unveiled the potential for high-grade, repeatable lodes at depth.
Trident, located within the underexplored Plutonic Gold Belt and just 30km from Catalyst’s underutilised Plutonic processing plant, already boasts a 2024 Reserve of 182koz @ 4.7g/t and a 2023 Resource of 508koz @ 3.7g/t. But the latest drilling campaign is starting to suggest there’s much more gold to uncover.
Bigger System, Better Grades?
The company kicked off a 320km belt-wide drill program in January, with Trident a key focus. And the early results are intriguing — drilling has intersected mineralisation 430m along strike and up to 600m below the existing resource, suggesting the system may continue well beyond its current defined limits.
Key intercepts include:
- 8.9m @ 9.8 g/t Au
- 13m @ 4.5 g/t Au
- 11m @ 7.5 g/t Au
- 2m @ 24.1 g/t Au
- 8.5m @ 9.5 g/t Au
According to MD James Champion de Crespigny, the deeper step-out holes point to a system that’s still “alive” at 1,300m down dip — more than double the current resource depth. Closer spaced infill drilling is also returning clusters of higher-grade hits, indicating repetition of high-grade lodes that were previously unknown.
Low-Cost Growth Potential
What makes this even more compelling is the low capital intensity required. Trident, like much of the Plutonic Belt, can be drilled from surface — keeping costs down and development timelines shorter. Catalyst plans to develop three new mines across the belt with just A$31M in total capital, all feeding into its existing central plant.
Catalyst currently holds Resources of 3.4Moz @ 2.9g/t Au and Reserves of 1.0Moz @ 3.0g/t, with production of 85koz per annum at an AISC of A$2,192/oz. But with Trident’s footprint expanding and further discoveries along strike expected, this picture could change rapidly.
Looking Ahead
The company is now running three active programs at Trident:
- Starter open-pit grade control drilling
- Infill drilling of inferred resources
- Step-out drilling to test new targets at depth and along strike
With the deposit still open in multiple directions and high-grade intercepts stacking up, Catalyst believes Trident could be a near-term brownfield development with serious upside.
