Catalyst Metals Ltd (ASX:CYL) is pleased to provide the Company's Quarterly activities and cash flow report.
Catalyst Metals Ltd
Catalyst has established a dominant position in one of the best gold provinces in Australia and controls a strike length of almost 80 kilometres along the Whitelaw Gold Belt north of Bendigo in Victoria. The Whitelaw Fault is believed to be an important factor in the formation of the Bendigo goldfield which was the second largest gold producer in Australia with production of 22 million ounces of gold at a grade of 15 g/t Au. Catalyst controls two virgin gold discoveries at Four Eagles and Tandarra where high gold grades up to 100 g/t Au have been discovered at shallow depths of less than 50 metres. A transaction with Gold Exploration Victoria Pty Ltd (a subsidiary of Hancock Prospecting Pty Ltd) will see up to $4.2 million spent on Four Eagles in coming years as well as co-operation with Catalyst on other gold projects in a large designated area.
Catalyst has a tight capital structure, a strong Board and management and is well placed to increase shareholder value by developing and mining shallow gold deposits using the favourable infrastructure of the area. Six existing gold processing plants lie within 100 kilometres of the tenement areas.
Catalyst Metals Limited (ASX:CYL) advises that assays received from the Boyd's Dam and Boyd North Prospects at the Four Eagles Gold Project have shown the highest gold grades received to date. Within a six-metre intersection in FERC152 at Boyd's Dam that assayed 50.4g/t Au, a one-metre interval assayed 247g/t Au.
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Asian Activities Report for May 10, 2011: BKM Management (ASX:BKM) To Acquire Potash And Rare Earth Projects In Western Australia
Asian Activities Report for May 10, 2011 includes: BKM Management Limited (ASX:BKM) has entered into an investment agreement to acquire a 30% interest in ORD River Diamonds Pty Ltd; Catalyst Metals Limited (ASX:CYL) reported high grade gold mineralisation at Four Eagles Gold Project; Centrex Metals Limited (ASX:CXM) announced an initial 103Mt Inferred Magnetite Resource at Bungalow deposit in South Australia; Beadell Resources Limited (ASX:BDR) announced the results of the Definitive Feasibility Study for its 100% owned Tucano Gold Project in Brazil.