Catalina Resources (ASX: CTN) latest quarter sees developments across Australian project portfolio - Kalkine Media

Highlights

• Decision on referral application concerning the NBR Project is expected in November 2023.
• For the Laverton Project, an access agreement was finalised with Mt Weld Mining Pty Ltd having overlapped miscellaneous licences.
• CTN continues to tap opportunities across diversified mineral projects.

The September quarter has been busy for Catalina Resources Ltd (ASX: CTN), an Australian company engaged in mineral exploration and mine development across diversified minerals. During the latest quarter ended 30 September 2023, the company witnessed progress aimed at recommencing operations at the Nelson Bay River Iron (NBR) project (DSO pit), completion of an access agreement with Mt Weld Mining Pty Ltd, and further developments at Dundas project.

Few of the major developments during the quarter have been listed below:

Developments aimed at recommencing operations at NBR project

Located in Tasmania, the NBR Project sits within an established mineral province with operating mines. The all-contract mining, processing and haulage operation, Direct Shipping Ore (DSO) project at NBR requires no major processing beyond crushing and screening.

During the latest quarter, CTN’s referral application concerning the NBR DSO project was validated by the DCCEW (Department of Climate Change, Energy, the Environment and Water) for consideration under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

The application was published on the DCCEW website for public consultation. In November 2023, the company expects to receive a decision regarding whether the project is a controlled action or not.

Laverton Project - access agreement finalised

In the September quarter, the company finalised an access agreement with Mt Weld Mining Pty Ltd holding overlapping miscellaneous licenses, following prolonged negotiations.

At the largest tenement within the Laverton Project, E38/3697, the company has located multiple compelling undercover gold, rare earth elements (REE) and nickel mineralisation drill target areas.

The tenement is located –

Data source: Company update

Exploration at Dundas Project

In August 2023, the company received comments from DBCA on the Conservation Management Plan (CMP) draft to enable further exploration at the Dundas Project. Accordingly, the CMP was updated, and the revised version was lodged in September 2023.

The CMP is focused on the next phase of exploration comprising plans for the two exploration licence applications and deeper drilling on the existing granted exploration licences.

Owing to the assays shared in May this year, the company is evaluating the rare earths potential of the project.  

Catalina Resources has an exciting project portfolio in highly prospective mineral regions. The focus remains on defining and evaluating opportunities across diversified mineral projects.

 CTN shares traded at AU$0.004 on 26 October 2023.