Catalyst Completes Trident Open Pit, Advances Underground Gold Mining

Trident Open Pit Completion Unlocks Underground Access

Catalyst Metals Limited (ASX:CYL) has wrapped up the Trident open pit mining at its Plutonic Gold Belt operation in Western Australia, marking a critical step towards underground development. The open pit, which began in July 2025, was designed primarily to provide a low-cost, low-risk access point for the underground decline. According to Catalyst, the operation was completed roughly on time and on budget, a notable achievement given it was the company’s first open pit and contractor-led mining venture.

The mined ore has been stockpiled and will be processed gradually through the Plutonic processing plant over the remainder of 2026, smoothing feed grades ahead of the underground mine’s first production.

Underground Decline Development to Start, First Ore in 2027

With the open pit behind it, Catalyst is now progressing the establishment of the underground portal and decline at Trident. The company expects first stoping ore from the underground operation in calendar year 2027. Trident’s underground reserves stand at 397,000 ounces grading 5.0 grams per tonne gold, with resources totaling 795,000 ounces at 5.3g/t. The underground mine is forecast to produce about 60,000 ounces per year for roughly a decade, becoming the second base load ore source for the Plutonic processing plant.

This development follows earlier underground mine openings at Plutonic East and K2, with Trident set to be the fourth underground source feeding the central 2 million tonnes per annum plant. The continuity of the management team across these projects appears to be helping Catalyst meet permitting and cost targets, reducing overall development risk.

Catalyst’s Strategy to Double Annual Gold Output

Catalyst’s broader plan aims to lift annual gold production at Plutonic from around 100,000 ounces to approximately 200,000 ounces over the next decade. This growth will be driven by five underground mines including Plutonic Main, Plutonic East, Trident, K2, and Old Highway. The addition of higher-grade ore sources like Trident and K2 is expected to increase the blended feed grade to the processing plant, helping lower unit costs and improve margins.

While not currently included in the 10-year production plan, Catalyst is reconsidering the nearby Cinnamon deposit following recent high-grade discoveries, potentially adding a sixth underground ore source to its portfolio. This reassessment comes amid ongoing exploration successes and a strategic push to maximise the Plutonic Gold Belt’s potential.

The recent completion of Trident’s open pit and transition to underground mining aligns with Catalyst’s steady progress in expanding its resource base and operational footprint. The company’s ability to execute on these milestones while managing costs has been highlighted in previous updates, including strong grade control results and resource upgrades at Trident, as well as record production quarters at Plutonic and resolved legal issues at K2 that enable faster development.

For investors tracking Catalyst’s growth trajectory, the underground development at Trident represents a tangible step towards the company’s ambitious production targets and cost reduction goals, reinforcing the strategic value of the Plutonic Gold Belt assets.