Bendigo North, Tandarra JV

Location

Central Victoria, Australia

Geological Province

Bendigo-Ballarat Zone of Lachlan Fold Belt overlain by Recent Murray Basin cover

Commodity

Gold

Ground holding

Granted EL 4897 (69 km2)

Status

Navarre Minerals 100%, with 2% net smelter royalty to Kirkland Lake Gold Ltd. on future mineral production.  Catalyst Metals is earning a 51% interest by spending $3 million over 4 years to September 2018.

Project Summary

The high-grade Tandarra Gold Project in central Victoria is targeting the next generation of gold deposits in basement rocks under shallow cover, 60 kilometres northwest of the 5 million ounce Fosterville Gold Mine and 40 kilometres north of the 22 million ounce Bendigo Goldfield (Figure 1).

Tandarra is a greenfields (virgin) gold discovery from within the North Bendigo Zone (an area of about 7,600km2) that the Geological Survey of Victoria has estimated the undiscovered gold endowment to be about 32 million ounces (Figure 2).

The advanced exploration project is a Bendigo analogue with confirmed high-grades of gold associated with several quartz reef structures.

Several outstanding wide, high-grade gold intercepts have confirmed gold mineralisation at depths of up to 20m from surface (see Figures 3 & 4, below).

Figure 1: Map showing Catalyst-managed tenements along the Whitelaw Gold Belt (source: simplified from Catalyst Metals Limited, 2017)

Figure 2: Historic gold production from Bendigo-Ballarat Zone

Navarre believes that Tandarra is part of a potential new goldfield emerging in central Victoria with opportunities for open pit and underground mining.

Under the terms of a 2014 farm-out agreement, Catalyst Metals Limited may earn a 51% equity interest in Tandarra by spending $3 million over the next four years by advancing the project towards mineral resource status.

Figure 3: Longitudinal projection of Tomorrow Gold zone showing recent intersections in blue highlight (source: Catalyst Metals October 2017)

Figure 4: Cross Section through Tandarra’s Tomorrow Gold zone showing recent intersections in blue highlight (source: Catalyst Metals October 2017)