Catalyst Metals Limited has lifted the mineral resource at its Keillor underground and open pit gold deposit in Western Australia by approximately 280%, replacing a historical estimate that relied largely on drilling completed before 2000.

The updated mineral resource stands at 3.2 million tonnes grading 3.0 grams per tonne gold for 307,000 ounces, up from 81,000 ounces at 3.6 grams per tonne across 700,000 tonnes. The underground portion accounts for 285,000 ounces at 3.3 grams per tonne, while the open pit hosts 21,000 ounces at 1.3 grams per tonne.

The increase follows 30,000 metres of underground diamond drilling completed since late 2025. A fragmented ownership history and a long-running legal dispute had previously limited exploration at the deposit for 25 years. Following the settlement of those legal issues in late 2025, Catalyst accelerated development across the site.

Keillor is situated 40 kilometres north-east of the company’s central two million tonnes per annum carbon-in-leach processing plant on the Plutonic Gold Belt, operating as the third of six mines slated for development under a broader plan to lift annual production to approximately 200,000 ounces. First ore from Keillor was mined in the June 2026 quarter, with ramp-up activities progressing across multiple mining fronts on the main and west lodes.

Metallurgical test work has confirmed the free-milling nature of the ore, showing recoveries exceeding 92 percent alongside gravity recoveries above 40 percent. Development capital for the site is now largely spent, with ongoing capital requirements expected to be limited to mine development. An updated ore reserve for the deposit is expected in the coming weeks, which is anticipated to extend the initial three-year mine life.

Managing Director & CEO James Champion de Crespigny noted that Catalyst has long targeted two million ounces of reserves across the Plutonic Gold Belt to build reliable cash flows, adding that success at Keillor and recently announced success at Cinnamon make achieving the target increasingly likely.

Read the full announcement: Keillor (formerly K2) Resource grows by 280%