How Will Catalyst’s Tunnel Approval Transform Four Eagles Gold Project?
Catalyst Metals has received regulatory approval to build an exploration tunnel at its Four Eagles gold project in Victoria, marking a pivotal step toward underground access and resource expansion. The company is advancing its high-grade gold resource with a secured processing facility and plans for further drilling in FY26.
- Exploration tunnel works plan approved for Four Eagles project
- High-grade gold resource delineated – 70,000oz at 26.2 g/t within 163,000oz at 7.7 g/t
- Secured 17-year option on Maldon Processing Facility with permits
- Plans for additional drilling and secondary approvals in FY26
- Joint venture partnership with Hancock Prospecting continues to support development
Strategic Milestone for Four Eagles
Catalyst Metals Limited (ASX, CYL) has taken a significant step forward in its Victorian gold project with the approval of its Works Plan for an exploration tunnel at the Four Eagles "Boyd’s Dam" site. This regulatory green light is a crucial development, enabling the company to gain underground access and deepen its geological understanding of the high-grade gold mineralisation beneath the surface.
Building on a Solid Resource Base
Since acquiring the project, Catalyst has methodically assembled the key components to demonstrate the commercial viability of Four Eagles. The company has delineated a high-grade gold resource of 70,000 ounces at an impressive 26.2 grams per tonne, nested within a broader resource of 163,000 ounces at 7.7 grams per tonne. These figures underscore the project's potential, especially given its proximity to the historic 20 million ounce Bendigo Goldfield, a renowned Victorian gold belt.
Processing and Infrastructure in Place
Complementing the resource delineation, Catalyst secured a 17-year option on the Maldon Processing Facility, a fully permitted plant capable of processing 200,000 tonnes per annum, located about 100 kilometres from Four Eagles. This arrangement not only provides a cost-effective processing solution but also positions Catalyst to manage operations efficiently as it advances towards production.
Next Steps and Growth Potential
Looking ahead to fiscal year 2026, Catalyst plans to engage closely with Victorian government agencies to secure secondary approvals related to water management and other environmental considerations. Concurrently, the company intends to ramp up exploration activities, including aircore and diamond drilling, targeting extensions of the high-grade resource and historical drill intersections that hint at further upside potential.
Partnership and Regional Significance
The joint venture with Hancock Prospecting Pty Ltd remains a cornerstone of the project’s development, providing both financial backing and strategic support. The Four Eagles project not only promises to contribute to Victoria’s mineral wealth but also to support the economic vitality of nearby remote communities. Catalyst’s progress here reflects a broader trend of revitalising gold exploration in historically rich Victorian belts, with neighbouring projects like Fosterville and Costerfield also drawing significant attention.
Bottom Line?
With underground access approved and processing secured, Catalyst is poised to unlock Four Eagles’ full potential, next comes proving up the resource and navigating approvals.
Questions in the middle?
- What is the detailed timeline for secondary approvals and tunnel construction?
- How will further drilling impact the size and grade of the Four Eagles resource?
- What are the capital expenditure requirements and funding plans for advancing to production?