Catalyst Metals has revealed its maiden ore reserve estimate for the Trident deposit. The strategy includes a small open pit to reduce pre-production capital requirements and overall development risk.

The maiden ore reserve at Trident comprises 1.3 million tonnes at 4.5 grams per tonne gold, totaling 188,000 ounces, with an initial small open pit reserve of 0.1Mt at 1.4 g/t gold for 6,000 ounces.

The approach reduces upfront capital costs to $15 million, down from the estimated $36 million in the July 2023 scoping study.

The project anticipates achieving a pre-tax net present value of $100 million, potentially increasing to $198 million at a higher spot price, with internal rates of return of 146% and 327%, respectively.