Catalyst Metals has announced an initial JORC 2012-compliant ore reserve estimate of 983,000 tonnes at 3.6 grams per tonne for 115,000 ounces at its Henty gold mine in Tasmania.
The company said the base provided Catalyst with a stable platform from which to continue executing its strategy of extending mine life and increasing the production rate.
Catalyst managing director James Champion de Crespigny said the reserve was a key strategic milestone for Henty because it underpinned its growth plan and highlighted the project’s increasingly strong future.
“This is shown by the fact that we have been able to convert 55 per cent of the indicated resource to ore reserve status,” he said.
“Importantly, the anticipated Henty mine life now extends beyond five years using a mine plan which incorporates the increased production rates being targeted in coming years”.