After busy Dec quarter, Catalina Resources (ASX: CTN) prepares for Laverton drilling in 1Q24

Highlights

• CTN is awaiting guidelines for preparing EIS for Nelson Bay River Iron Project.
• At the Laverton Project, gold, nickel, and rare earth element targets have been identified.
• Air core drilling at Laverton is due for the first quarter of FY24.

Catalina Resources Limited (ASX: CTN) is a diversified mineral exploration and mine development company with focus on prospective base metal, gold, lithium, iron ore and rare earth projects. The company’s project portfolio covers the Lachlan Fold Belt Project, Nelson Bay River Iron (NBR) Project, Laverton Project, and Dundas Project.

CTN has released its quarterly activity report for the period ended 31 December 2023. The major highlight for the period was Laverton project.

Laverton Project

During the latest quarter, the company was granted exploration licence – E38/3697 and E38/3698 in the Laverton district.

Approval for a Programme of Work (PoW) for exploration licence E38/3697 was also received during the quarter. Moreover, aboriginal heritage surveys were concluded for both exploration licences.

E38/3697 is a 15-sub block tenement which lies within the Laverton Gold Province. The region hosts multiple deposits of nickel, gold, and rare earth element.

The company had located numerous compelling target area with potential for rare earth element, gold and nickel mineralisation within this licence.

To test the targets on E38/3697, air core drilling campaign is planned for the first quarter of FY24. 

Nelson Bay River Iron Project

Early in November 2023, the company was notified by the Department of Climate Change, Energy, the Environment and Water (DCCEW) about its referral application to conclude partially mined DSO open-cut pit and related activities to allow for sale and extraction of hematite ore in Tasmania.

The DCCEW informed CTN that the proposed action is a controlled action, therefore, it requires additional assessment under the EPBC Act 1999. The proposed action would be evaluated by an Environmental Impact Statement (EIS).

The company is working with the DCCEW for issue of draft guidelines for preparation of EIS.

The NBR Project is situated in Tasmania and is around 150km from the Burnie port. NBR’s Direct Shipping Ore (DSO) project is a haulage, processing, and all-contract mining operation. First developed in 2013, ore’s first shipment left the Burnie Port in 2014.

Total production from the previous mining program was 181,000 tonnes, transported with average grade of Fe 57.5%, SiO₂ 7.7%, Al₂O₃ 1.3%, P 0.07% and S 0.04%.

For the Lachlan Fold Belt Project, Catalina is actively seeking a grant of an Aboriginal Heritage Impact Permit (AHIP) from Heritage NSW.

Moreover, for the Dundas Project, efforts are underway in collaboration with the DBCA to finalise a Conservation Management Plan (CMP) to facilitate further exploration.

CTN is committed to identifying and assessing exploration and early development opportunities in lithium, rare earths, gold and base metal projects.

CTN shares traded at AU$0.003 on 24 January 2024.