Catalyst Metals Limited announced that it has continued its exploration success at the Henty Gold Mine in Tasmania. Results are reported here for the period between 1 October and 31 December 2021. These results are in addition to the previous quarter's high-grade results which were reported to the ASX on 8 November, 2021.

Underground diamond drilling continued with three rigs in operation and a fourth due to arrive in February (a further rig conducts surface exploration). Drilling was carried out in the upper part of the mine on Zone 96, Intermediate Zone and Zone 15 as well as on the Darwin Zones at the south end of the mine. Many of the intersections are beyond the limits of the 2021 Resource model and have the potential to contribute to an increase in Resources and Reserves as well as a higher gold grade in future production profiles.

Drilling on the Intermediate Zone and Collar Zones is showing high grade mineralisation in a new area that can now be drilled from recently completed development drives. This area has the potential to extend southward where old surface drillholes have shown gold zones in the 7g/t to 14 g/t Au range Of the 117 holes drilled during the period, the majority contained gold mineralisation and 42 had intervals greater than 20 g/t Au metres. High gold grades greater than 50 g/t Au metres were recorded in eleven holes.

A further 31 intervals reported greater than 20 g/t Au metres. With the arrival of the fourth underground drill rig in February, the drilling activity will increase considerably, enabling the testing of large areas along the Henty Fault above the previously mined areas. Surface drilling commenced in August to test potential for mineralised extensions in the Henty Mine corridor north of the mine.

A total of 1,323m was drilled by the end of the Quarter in three holes. Two holes (CEH001, CEH002) drilled in the Henty Mine corridor targeted the projected extension of the Henty structural position and the third hole (CEH003) drilled a geochemical anomalous area west of the Henty Fault. The current drilling has confirmed the presence of strong Henty style alteration 250m north of the Sill Zone in chemically receptive Zig Zag Hill epiclastics which host some of the mineralisation within the northern end of the mine.

The drilling also revealed a previously unknown north-west oriented structural inflection in the Henty Fault associated with significant deformation over a 70m zone downhole. This is interpreted to represent an interfering cross-structure or structures. These holes are undergoing detailed structural analysis prior to sampling and assaying.

On the completion of this program, surface drilling will commence within the Henty Mine corridor targeting extrapolated mineralisation above the Henty Mine workings. Up to seven holes for 2,700m are planned testing targets located up-plunge of high-grade linear shoots of gold within the mineralised Henty Lodes.