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Highlights
- Air core drilling at the Laverton project intersected gold and rare earth elements (REE).
- Catalina has planned follow-up air core drilling to refine gold and REE targets before commencing possible reverse circulation (RC) drilling at Laverton.
- The company plans to undertake diamond drilling at the Rock Lodge prospect for spring season of 2024.
Catalina Resources Ltd (ASX: CTN), a diversified mineral exploration and mine development company, is actively advancing exploration work across its portfolio of projects with a focus on gold, iron ore, and battery and base metals.
The recent focus of the company has been on its Laverton and Lachlan Fold Belt projects.
CTN Project Portfolio (Image source: Company update)
Gold and rare earth findings at Laverton Project
The project is situated in the Laverton Gold Province, renowned for its well-mineralised terrain in the Eastern Goldfields of Western Australia. Catalina completed 25 aircore holes at Laverton for 1,593m in February 2024, which successfully intersected gold and rare earth elements (REEs).
Data source: Company update
The encountered gold mineralisation is linked to alteration and veining within the north-northwest trending Barnicoat Shear Zone, while REE minersalisation is present in intrusive rocks, near Mt Weld carbonatite REE mine.
The company intends to conduct additional air core drilling to further define gold and REE targets before commencing RC drilling, slated for mid-2024.
In its recent quarterly report, the company highlighted that its application for a prospective gold exploration tenement E38/3847 in Laverton, located near the Burtville Mining Centre and in the region of CTN’s E38/3697, was drawn first in the ballot conducted by the Mining Warden. This grants CTN priority over other competing applications for the tenement.
Diamong drilling planned at the Lachlan Fold Belt Project
The Rock Lodge prospect located in the southern New South Wales, exhibits substantial gold mineralisation related to structurally controlled epigenetic massive sulfide veins. Catalina completed a 15-hole RC drilling (including 2 pre-collars for deeper diamond drilling) in April 2022 at the Rock Lodge prospect which returned the following promising results:
Data and image source: Company update
The RC drilling indicated that in addition to gold (Au) and silver (Ag), the mineralisation contains varying quantities of bismuth (Bi), arsenic (As), copper (Cu), antimony (Sb), lead (Pb), cadmium (Cd), and zinc (Zn).
A diamond drilling campaign is scheduled for the spring of 2024 following the conclusion of site preparations in compliance with the AHIP (Aboriginal Heritage Impact Permit) and the wet winter season.
Plans for other projects
Additionally, the company is committed to these tasks at the following projects:
- Nelson Bay project - Commencing baseline data collection as required by guidelines to develop EIS
- Dundas project - Seeking approval of the conservation management plan to enable further exploration
Furthermore, CTN is actively pursuing new projects to expand its project pipeline across all stages, from early development to advanced phases. The company is actively working towards project incubation and advancement using modern exploration techniques as outlined in its strategy.
CTN shares traded at AU$0.003 apiece on 1 July 2024.
