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Goldman The updated reserve base is intended to support about 200,000 ounces of annual production for roughly 10 years.
Catalyst Metals Limited (ASX:CYL) has delineated 2.0 million ounces of Ore Reserves across the Plutonic Gold Belt in Western Australia.
The updated probable reserve totals 23.4 million tonnes at 2.6g/t gold for 1.971 million ounces. This includes 18.5 million tonnes of underground reserves at 3.0g/t for 1.751 million ounces, 4.6 million tonnes of open-pit reserves at 1.4g/t for 213,000 ounces, and 7,000 ounces in surface stockpiles.
Catalyst said the Plutonic reserve base increased by 35% over the past 12 months, from 1.5 million ounces to 2.0 million ounces. Since Catalyst acquired the belt, reserves have grown four-fold and about 1.8 million ounces have been added after depletion.
About half of the belt’s reserves are now attributed to the higher-grade Trident, Old Highway, Cinnamon and Keillor deposits. Catalyst currently produces about 100,000 ounces a year from Plutonic Main, Plutonic East and Keillor, and is bringing Trident underground, Cinnamon and Old Highway into production through the existing 2Mtpa processing plant.
The company said the 2.0-million-ounce reserve provides the inventory required for its longer-term plan to lift production to about 200,000 ounces a year for about 10 years. Catalyst also noted that its September 2025 guidance should be treated as a general indication of management’s long-term vision because permitting timelines, operational delays, processing capacity and reserves have changed since that guidance was issued.
Catalyst Metals managing director and chief executive James Champion de Crespigny:
When Catalyst consolidated the Plutonic Gold Belt, we saw the opportunity to build Plutonic into a foundational pillar of a broader gold business. This pillar would see Plutonic set up as long-term, ±200koz production hub.
Delineating 2Moz of Reserves – the inventory and ore sources for ±10 years of production is an important milestone in de-risking this plan. Importantly, as we have added deposits to the plan, the quality of the Reserves has improved. Around half the growth has come from higher-grade ore sources at Trident, Old Highway, Cinnamon and Keillor.
