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Highlights
- Aircore drilling is currently underway at E38/3697.
- The drilling campaign includes 25 holes, covering ~1,500 metres.
- The drilling program aims to test REE and gold targets.
Catalina Resources Limited (ASX: CTN) has kicked off a 1,500m aircore drilling program at the Laverton Project. The initial program comprises around 25 holes, targeting rare earth element (REE) and gold targets. In subsequent programs, other generated targets will be examined.
Approximately 20 aircore boreholes are scheduled to be drilled for testing along strike from the Lily Pond Well Mineral Resource, which stands at 340kt @ 1.4 g/t Au, situated within the Barnicoat Shear Zone trending north-south. This shear zone extends across the southwest area of EL38/3697 and is believed to connect the Lily Pond Well with the Mon Ami (1.56Mt @ 1.1g/t Au) and Ida H (630kt @ 1.4 g/t Au) Mineral Resources to the north.
Additionally, five holes will be drilled to examine selected magnetic anomalies modelled by Southern Geoscience Consultants indicative of potential REE bearing carbonatite intrusives.
About E38/3697
The E38/3697 exploration licence is a 15 sub-block tenement within the Laverton Gold Province, located in the eastern Goldfields, WA. The region hosts multiple gold, nickel and REE deposits, including the Mt Weld REE, Sunrise Dam, Windara Nickel and Wallaby deposits. The Mt weld REE is amongst the highest-grade rare-earth deposits globally, with a mineral resource of 54.7 Mt @ 5.3% TREO.
Gold, Nickel and REE targets within E38/3697
The company identified gold, nickel and REE targets through the compilation and assessment of previous exploration and reimaging of aeromagnetic data. Here’s a summary of the generated targets-
Data source: Company update
CTN shares traded at AU$0.04 apiece at the time of writing on 26 February 2024