Hancock Prospecting-backed Catalyst Metals has discovered a gold zone at the Tandarra project near Bendigo, Victoria.
Tandarra is a greenfields discovery north of Bendigo, which the Geological Survey of Victoria estimated to host around 32 million ounces of undiscovered gold.
It is a joint venture (JV) project between Catalyst and Navarre Minerals, with the former owning a 51 per cent interest in the JV.
The new discovery is part of a drilling program by the JV partners to extend gold-mineralised trends beyond the limits of previous exploration, towards the southern and northern limits of the tenement.
The gold mineralisation, known as the Lawry zone, is open to north, south and at depth and is highlighted by a wide zone of quartz-hosted gold mineralisation in massive impenetrable quartz grading 10.2 grams per tonne of gold.
Reconnaissance drilling conducted on the project has also extended gold mineralisations on the Tomorrow trend, located 500 meters to the west of the new discovery, by up to 1.2 kilometres in the south direction.
The Macnaughtan mineralisation zone has also been extended by as much as 400 metres in the south.
Catalyst and Navarre will continue the air core (AC) reconnaissance drilling and reverse circulation (RC) drilling at the project, subject to weather conditions, safety considerations and government restrictions arising from the COVID-19 pandemic.
The Whitelaw Fault, where the Tandarra gold project is located, is considered to be the major structural control of gold mineralisation at Bendigo.
The new zones of gold mineralisation discovered at Tandarra occur in a structural zone of folds and faults, which are interpreted to intersect the Whitelaw Fault at depth.