Catalyst Metals (ASX:CYL) has reported its Trident underground deposit has reached 1.1 million ounces at 5.40 grams per tonne gold, with first stoping ore expected in the first half of 2027.
The updated mineral resource estimate (MRE) comprises 633,000 ounces of indicated resources at 6.30g/t gold and 448,000 ounces at 4.60g/t gold inferred. The indicated resources represent a 20% increase on prior estimates.
“Our exploration team continues to have success across the belt, meaningfully growing Trident, Plutonic Main, Cinnamon, K2 and Old Highway. This 145% increase in Trident’s indicated resources — and achievement of this 1Moz milestone — is a testament to their persistence,” Managing Director James Champion de Crespigny says.
“A key focus now is on developing the Trident orebody. With the open pit completed, the successful development of the underground and path to ±200koz is becoming ever more likely.”
The company incorporated 111,001m of drilling from 230 diamond and 110 reverse circulation drillholes into the updated estimate. This included 72 grade control holes targeting the initial 12 to 18 months of planned production.
From resource to production
Trident sits 30km north-east of Catalyst’s underutilised 2-million-tonne-per-annum Plutonic processing plant, 195km northeast of Meekatharra in Western Australia. The deposit currently holds probable Reserves of 2.5 million tonnes at 5.0g/t gold for 397,000 ounces.
The company completed mining of a small open pit at Trident in May 2026, establishing access for underground development.
Ore from the open pit has been stockpiled and will be progressively transported to the Plutonic processing plant over the remainder of 2026.
Catalyst Metals expects Trident to operate at around 60,000 ounces per annum and form a second, higher-grade base load ore source feeding the Plutonic processing plant.
The company aims to increase annual gold production from 100,000 ounces to 200,000 ounces through its 10-year production plan.
Trident remains the second-largest deposit on the 40km Plutonic Gold Belt, which currently produces around 100,000 ounces per annum at an all-in sustaining cost of $2,300 per ounce from three mines.
Previous indicated resources at Trident have converted to reserves at a 75% rate, supporting the company’s confidence in future conversions.
Write to JC Villarba at Mining.com.au
Images: Catalyst Metals
