Catalyst Metals Confirms Bulk Mining Potential at Cinnamon with High-Grade Infill Drilling

Drilling Validates Bulk Mining Prospects at Cinnamon

Catalyst Metals (ASX:CYL) has delivered compelling infill drilling results at its Cinnamon gold deposit, confirming the potential for bulk scale underground mining. The drilling campaign returned thick, continuous mineralised zones with true width intercepts reaching 27 metres at an exceptional 20.5 grams per tonne (g/t) gold and 57 metres at 6.9g/t Au. These results underpin an upcoming updated Resource and Reserve estimate that will be pivotal for advancing mine development.

The Cinnamon deposit lies 25 kilometres from Catalyst’s Plutonic processing plant and is slated to become the sixth ore source in the company’s ambitious growth plan to double annual gold production to around 200,000 ounces. The recent drilling has delineated a 700-metre mineralised strike length, revealing broad zones of consistent grade and thickness, which are conducive to lower-risk, bulk underground mining operations.

New Mineralised Zones Expand Exploration Horizons

Beyond confirming continuity in the known high-grade shoot beneath the existing open pit, the drilling program tested for mineralisation within parallel and deeper conglomerate units. Encouragingly, assays identified multiple new mineralised zones, including intercepts such as 8 metres at 4.7g/t Au and a narrow but high-grade 0.5 metre at 21g/t Au. These findings suggest potential replication of mineralised shoots both above and below the current resource, offering fresh targets for follow-up drilling scheduled in the coming months.

Gold mineralisation at Cinnamon is structurally controlled within shear zones hosted by conglomerate sequences; a departure from the mafic host rocks that dominate the Plutonic Gold Belt’s historical mining. This geological setting opens alternative exploration avenues, aligning with Catalyst’s strategic consolidation of the Marymia belt since 2023.

Strategic Role of Cinnamon in Production Growth

Managing Director James Champion de Crespigny emphasised the deposit’s significance: “With this discovery and delineation of Cinnamon, the Plutonic Belt’s future is secure. We now have multiple high-grade ore sources and the balance sheet to get us there. The path to 200koz is now just a matter of time.” He highlighted the rapid pace of development, expecting a transition from greenfields discovery to Reserve within twelve months, facilitated by existing infrastructure.

The company’s plan involves sourcing production from six mines, including Cinnamon, to build stockpiles ahead of processing. This strategy is designed to provide operational flexibility and reduce risk, especially in light of recent changes to permitting timelines and processing capabilities that have affected the original 10-year guidance released in September 2025.

Upcoming Resource and Reserve Update to Inform Development

The infill drilling focused on the high-grade zone beneath the open pit will support a maiden Reserve expected soon. Results demonstrate continuous mineralisation along the shoot, with higher-grade zones embedded within broader mineralised intervals rather than isolated pockets. This continuity is critical for bulk mining feasibility.

Meanwhile, limited drilling of repeat conglomerate units has confirmed mineralisation in four target areas, two above and two below the existing high-grade zone. Catalyst plans deeper drilling to test these parallel shears and faults that appear to control gold concentrations. These geological insights could materially enhance the deposit’s scale and economic potential.

Given Catalyst’s recent record production growth at Plutonic and ongoing development at other deposits like Trident and Old Highway, Cinnamon’s advancement is a key piece in the puzzle to achieve the company’s production target. The deposit’s proximity to the underutilised Plutonic processing plant further supports a cost-effective ramp-up.