Catalyst Metals’ detailed technical report for the Old Highway deposit provides an in‐depth look at the methods used in estimating gold mineral resources in accordance with the JORC Code (2012 Edition). The report explains that historical drilling data—gathered predominantly using reverse circulation and diamond drilling techniques—was rigorously processed and validated. All drill data were compiled in a comprehensive SQL database and cross‐checked for integrity before being used to construct a finely spaced block model. Initially modeled in cells of 1.25m³ and then aggregated to 2.5m³ blocks, the model is supported by extensive geological logging, downhole survey data, and laboratory assay results. The estimate centers around two key mineralised zones, referred to as Zone 250 and Zone 400. For these zones, the estimation team used categorical indicator kriging to create sub‐domains representing low-, medium-, and high-grade areas. In Zone 250, a low-grade indicator was set at 0.2 g/t Au and a high-grade indicator at 1.0 g/t Au, while for Zone 400 the indicators were 0.1 g/t and 1.2 g/t respectively. To control for the impact of outlier high-grade values, the report explains that a distance-limiting approach is applied during grade interpolation—with thresholds of 20m for grades above 5 g/t in Zone 250, and tiered limits of 15m (for 10–80 g/t) and 7.5m (for grades above 80 g/t) in Zone 400. Economic and processing assumptions underpin the cut-off grades chosen for reporting. Open pit resources in both zones are reported at a 0.5 g/t cut-off, while the underground resources of Zone 400 are reported at a 1.5 g/t cut-off. These parameters incorporate key cost inputs, including a base mining cost of AUD 4.5 per tonne, processing and haulage costs of AUD 50 per tonne ore, and an assumed gold price of AUD 3,800 per ounce. Metallurgical recovery factors are also factored in—ranging from 94% for oxide material to 88% for fresh rock. The geological context is described in detail, with mineralisation hosted within steeply dipping, east–west trending veins in the Cow Hole Bore Member and associated with the Old Highway Shear Zone. The deposit dimensions, variability in grade (with coefficients of variation typically between 1.6 and 6.8), and the rigorous dynamic search and validation procedures all help boost confidence in the resource estimate and indicate opportunities for further drilling and potential mine life extension. Bullish sentiment may be drawn from the report’s robust methodology, which employs industry-standard advanced geostatistical techniques, rigorous data validation, and a comprehensive review process. This high level of technical diligence suggests that the resource estimate is reliable and that further exploration could enhance the deposit’s value. However, bearish considerations include the reliance on historical data with inherent variabilities, the relatively high short-scale grade variability, and the assumptions regarding gold price and economic parameters that may not hold true under changing market conditions. Investors should weigh the technical rigor of the report against these underlying risks when considering the deposit’s potential impact on the company’s prospects.