Catalyst Metals Limited has been advised by St Barbara Limited that it has withdrawn from the Drummartin Joint Venture to focus on its existing projects. Catalyst entered into the joint venture agreement over the Drummartin Project in November 2019. St Barbara had the right to acquire a 50% participating interest in the Drummartin Project by funding exploration expenditure of $3.5 million within four years of the commencement date.

At the time of withdrawal, St Barbara had spent approximately $2.2 million on gravity and geochemical surveys, soil sampling and aircore drilling. The Drummartin Joint Venture has identified 13 gravity targets from the detailed gravity survey completed last year. Catalyst will follow-up these highly prospective targets, which have been generated at no cost to Catalyst, as part of its ongoing exploration program.