Catalina Resources (ASX: CTN) closes June quarter with promising gold and REE assays

Highlights

• Significant mineralisation in rare earth elements (REE) and goldhighlighted through resampling at the Laverton project.
• The company plans to conduct follow-up aircore drilling at Laverton to further delineate gold and REE targets before potential RC drilling commences.
• Diamond drilling is scheduled for spring 2024 at the Lachlan Fold Belt Project.

Catalina Resources Limited (ASX:CTN) made significant strides across its key projects during the June 2024 quarter. Resampling of mineralised gold and rare earth element (REE) intervals at the Laverton project yielded encouraging results. The period saw site work completion at the EL9155, Rock Lodge Project.   

At March-end, the company held AU$2.82 million in cash.  

Promising results from Laverton Project Resampling

Sampling from the Laverton Project revealed promising results, highlighting significant gold and rare earth element mineralisation.

Data source: Company Update

Additionally, resampling of mineralised REE intervals showed notable concentrations:

Data source: Company Update

REE mineralisation is hosted within intrusive rocks located just 2km north of the Mt Weld carbonatite REE mine, highlighting the project's strategic proximity to established mining operations.

Looking ahead, the company plans follow-up aircore drilling to further delineate targets before potential RC drilling. With all necessary approvals secured and contractors lined up, these activities are expected in the upcoming months, contingent on favourable weather conditions.

Diamond Drilling Scheduled for Lachlan Fold Belt Project

Site work was successfully concluded in compliance with the Aboriginal Heritage Impact Permit (AHIP) conditions for EL9155, the Rock Lodge project.

In April 2022, the company concluded an RC drilling campaign at the Rock Lodge prospect within the Lachlan Fold Belt project, NSW, uncovering substantial mineral deposits. Spanning 163km², the Rock Lodge project (EL 9155) is situated 35km south of Cooma. The area shows potential for orogenic gold systems, intrusion-related gold systems (IRGS), and skarn-related gold mineralisation.

Preparations are underway for diamond drilling to commence in spring 2024, following approval from the NSW Resources Regulator for exploration activities at EL9155.

Catalina Resources has developed a portfolio of exploration projects in globally renowned mineral-rich regions. These projects are in their early stages, with initial steps focused on securing access agreements and heritage agreements, conducting surveys, and undertaking desktop studies to facilitate  exploration across its tenements.

CTN shares traded at AU$0.002 on 24 July 2024.

 

 

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