Macorna Bore Project

(EL5521 Catalyst 100%)

Figure 12  Macorna Bore Project showing prospective zone and historic drilling

Figure 12 Macorna Bore Project showing prospective zone and historic drilling.

Exploration Licence EL5521 was granted to Catalyst in October 2014 for a period of five years. The Macorna Bore project is also covered by EL5508 which forms part of the Catalyst/Providence/GEV Joint Venture of which Catalyst has a 50% equity interest. The project lies north of the town of Pyramid Hill and straddles the interpreted northern corridor of the Whitelaw and Sebastian Faults (Figure 12). The area is bounded on the east and west by Devonian granites and the Ordovician basement rocks are totally covered by Murray Basin sediments of variable thickness.

Catalyst's objective at Macorna Bore is to define shallow gold resources of the Bendigo style that have the potential to be bulk mined by open pits. Shallow gold mineralization has already been discovered at Tandarra and Four Eagles to the south and it is hoped that the same mineralised trends may be present along strike in EL5521 and EL5508.

WMC carried out air-core drilling in the western portion of the licence area in the late 1990s which showed some weakly anomalous gold values in Ordovician basement. These show a north-west trending zone of Au-As geochemical anomalism around 10 kilometres long but values are relatively subdued and variable. It is possible that this trend may be a north westerly splay from the Whitelaw and Tandarra Fault corridor that is interpreted to pass through the eastern side of EL5521.

Basement depths are generally greater than 60 metres in the anomalous zone but three holes drilled on the eastern side of EL5521 show basement depths as shallow as 36 metres.