Catalina (ASX:CTN) receives ‘outstanding’ high-grade REE assays at Dundas, shares soar - Kalkine Media

Highlights

• Catalina Resources has revealed re-split assays for the composite 4m samples from the maiden air core drill campaign at the Dundas project, WA.
• Two shallow air core holes intersected TREO grades exceeding 1%.
• The outstanding high-grade REE assays have strengthened the Company’s belief that Dundas will be a momentous asset in a prospective and underexplored location.
• There is a heavy REE ratio of 19% HREO/TREO and critical magnet metals NdPr + DyTb ratio of 24% of total REEs, confirms the assays.
• CTN shares gained over 20% on the ASX post the update. 

Catalina Resources Ltd (ASX:CTN), a diversified mineral exploration and mine development company, has shared re-split assays for the composite 4m samples from a 105-hole air core drill campaign at the Dundas Project in the Albany Fraser Belt of Western Australia.

Two shallow air core holes intersected TREOs grades exceeding 1%.

As per the update, the company received outstanding high-grade REE assays, which have strengthened its belief that Dundas will turn out to be a momentous asset in a prospective and underexplored location. Significant REE intersections up to 10m thick are there at the site, suggests the assays.

Data source: CTN update 

Shares soar 20%

Triggered by the update, CTN shares jumped nearly 20% to trade at AU$0.006 midday on 02 May 2023. The Company has a market capitalisation of AU$6.19 million.

An overview of the drill program

The Company concluded the maiden air core drill program in December 2022 for about 2909m with an average depth of 27.7m at Dundas. The air core dill is performed to blade refusal (rock too hard to penetrate).

The bedrock geology is covered by a 6-20m blanket of transported colluvium and lake clays. Geochemical and lithological information of the bedrock was successfully intersected during air core drilling so as to plan follow up RC drilling.

The geochemical halo has been detected during the air core work to a potentially larger target at depth. The Company will plan deeper RC drilling to drill underneath and along strike of these air core anomalies.

According to the Company, the assays reflect an ‘exceptional’ critical magnet metal (NdPr+DyTb) ratio of 24% to total TREOs. To manufacture permanent magnets that are used in electric motors and generators, these four HREEs are the core ingredients.

Details about regolith and bedrock enrichments

Weathering induced clay formation has caused significant REE enrichment in the regolith at Dundas. It is important to note that anomalous REE mineralisation in bedrock in hole 22DAC066 below the regolith horizons hints that potential exists at Dundas for higher grade, higher commercial value, hard fresh rock REE mineralisation. The last 2m re-split samples assayed 2m @ 0.18% TREO at the end of hole.

Re-split assays are markedly higher than the recently reported 4m composite assays. For analysis, the re-split samples have been fused with sodium peroxide and the melt has been dissolved in dilute HCL (hydrochloric acid) so as to identify major element composition in the samples or to find out refractory mineral species, as are some REEs.

Understanding trial soil geochemistry

Catalina has completed a 1.5 km long orientation soil geochemistry traverse over air core hole 22DAC095. Hole 22DAC095 intersected the highest grades (2m @ 1.3% TREO) and brings with it a big opportunity to trial low-level soil geochemistry when transported cover can mask any bedrock geochemistry.

Air core hole 22DAC095 indicates the transported cover is 16m thick. The CSIRO has now commercialised UltraFine+™ soil sampling, an approach to surface exploration analysis by use of proven geochemical processes to detect sensitive signals at surface.

The results of the ultrafine orientation geochemical program show the transported cover at Dundas is amenable to ultrafine multi-element soil geochemistry.

Blue-green mineral reported in January 2023

Pegmatite with a blue green mineral was intersected within hole 22DAC016, from 30-35m (EOH). The mineral was logged as aqua marine, a gem variety of the beryl mineral group. As per the mineral analytical reports from the air core drilling samples, the blue green mineral reported was not aqua marine (beryl).

Technical studies of these samples and crystals have been completed to identify its composition and make an identification. X-ray diffraction analysis (XRD) is also included in the further scrutiny.