The Boyd's Dam exploration site is west of Mitiamo. Source: Google maps.
A mining company will build an exploration tunnel under the farming district of Mitiamo, in pursuit of gold seams deep underground.
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Catalyst Metals has announced it has been granted approval in a works plan for the exploration tunnel at its joint-ventured Four Eagles “Boyd’s Dam” gold project.
Over the past 15 years mining companies have been following gold bearing seams north from the rich Bendigo deposits.
A mine at Fosterville, east of Bendigo, has pulled tonnes of gold from deep underground.
Over the past few years Catalyst has been gradually putting together the key elements needed to demonstrate a realistic and commercially viable gold project at Four Eagles.
The company said while the project’s location once raised questions about its long-term potential, those concerns have now been largely addressed.
Three years ago, the Four Eagles Gold Project comprised a series of “encouraging” drilling results within a large 75km land package that lies immediately along the strike of the famed 20 million-ounce Bendigo goldfields.
A 2010 Victorian Department of Primary Industries report described geological features along what it called the Murray Basin, extending from the Echuca region to Mildura.
The report has been used to focus attention on the Mitiamo-Pyramid Hill region.
The Catalyst company said it will work with the Victorian Government department of Resources Victoria, and other government agencies, on water management and other approvals, during 2026.
“It will also, with the help of Resources Victoria, work on securing other licenses required before it can commence the development of the exploration tunnel,” the company said.
Catalyst’s Managing Director and CEO, James Champion de Crespigny, said this initial approval was a notable milestone towards the future construction of the exploration tunnel.
Referring to an agreement with a Maldon processing plant, he said the processing solution is now in place for the project.
“As we are undertaking further drilling to grow the high-grade gold resource, our focus will also be on obtaining the secondary approvals required before we commence the construction of the exploration tunnel. “
Minerals Council of Australia, Victorian division executive director, James Sorahan,said progress on exploration approvals provides a much-needed boost in confidence for exploration investment and adds to the momentum of gold development in Victoria which has enjoyed record exploration spending in recent years.
“The Boyd’s Dam prospect brings to life Victoria’s aim of discovering extensions of the world renowned Bendigo goldfields to the north under the Murray Basin cover with modern exploration techniques.
“The Bendigo goldfields are still to this day Australia’s second largest goldfield by production.
“The approval allows for the next phase of exploration investment to employ regional Victorians and support local economies.
“Victoria could produce 1 million ounces of gold per year by 2030. This is achievable and would provide value of more than $6 billion at today’s gold price,” Mr Sorahan said.
The Fosterville gold mine.
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VFF President Brett Hosking said the Mitiamo project was an example of how landholder and community consultation should occur.
“From what I understand they have been engaged with the community in a way that demonstrates what should happen. This is different to what is occurring in some parts of the state with mineral sands mining.”
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