Catalyst Metals has increased the underground Ore Reserve for the Trident gold deposit by 32% to 524,000 ounces at 4.2 g/t gold, marking a substantial expansion from previous estimates.

The updated probable reserve estimate totals 3.9 million tonnes at 4.2 g/t gold, calculated using a break-even cut-off grade of 2.0 g/t and a gold price assumption of $4,500 per ounce. The latest figure represents a significant scale increase compared to the maiden Ore Reserve reported in July 2024, which stood at 1.3 million tonnes at 4.5 g/t gold for 188,000 ounces.

Development of the Trident underground mine is currently underway, with 250 metres of development completed. Mining operations follow the conclusion of a small open pit that operated between July 2025 and May 2026, which was established primarily to create a box-cut for underground access. Stockpiled open-pit ore is being transported for processing at the central 2-million-tonne-per-annum facility, while grade control drilling for the first 15 months of production has already been finished to de-risk the ramp-up phase.

First ore from the underground mine is expected in calendar year 2027. The deposit is planned to operate at a steady-state annual production rate of 60,000 to 80,000 ounces over an anticipated ten-year mine life, utilizing long-hole stoping with paste fill as the primary extraction method. Catalyst intends for the higher-grade underground source to act as a second base load feed for the central Plutonic processing plant.

The reserve expansion directly supports the company’s broader organic growth strategy. Catalyst aims to increase total Ore Reserves across the Plutonic Gold Belt from 1 million ounces to 2 million ounces and lift annual gold production from 100,000 ounces to 200,000 ounces.

Read the full announcement: Trident Reserve grows by 30%