Catalina Resources’ (ASX:CTN) diamond drilling at Rock Lodge unveils promising gold, sulphide mineralisation

Highlights

• CTN completed two diamond drill holes for 351m at Rock Lodge Project, NSW.
• The diamond drilling program intersected broad zones of alteration with intervals of sulphide and quartz-sulphide veining and brecciation hosted by siltstone.
• Processing of the core is underway with assay results awaited.

Catalina Resources Ltd (ASX:CTN) has completed diamond drilling at its Rock Lodge Project, situated in the Lachlan Fold Belt, New South Wales. Two diamond drill holes (SRLRCD001 and SRLRCD002) were designed to follow up the gold mineralisation intersections (associated with quartz-sulphide veins) encountered in previous shallow reverse circulation (RC) drilling.

Drilling results

The diamond drilling has intersected extensive zones of alteration featuring sulphide and quartz-sulphide veining, along with brecciated hosted by siltstone. Sulphides identified include pyrite, pyrrhotite, and minor base metal sulphides such as chalcopyrite, galena, and sphalerite. These findings suggest that the gold mineralisation is associated with a late-stage brittle deformation event.

Additionally, the presence of copper and bismuth in prior drill assays hints at a potential connection to an intrusive source at depth.

The diamond cores will be cut and sampled at 1m intervals through part of holes displaying visual signs of mineralisation. These samples will undergo analysis for gold and base metals/multi-elements at a laboratory in Orange, New South Wales. Results are currently pending.

Image source: Company update

Next Steps

The visual results from the drilling program have been promising, with notable alteration and quartz-sulphide veining logged. The processing, sampling, and laboratory analysis are expected to take approximately eight weeks. Once laboratory analyses results are received, Catalina plans further drilling programs to expand and refine its current drill coverage.

To explore mineralised zones further north, the company might conduct an induced polarisation (IP) survey to delineate mineralisation under cover.

CTN shares last traded at AU$0.003 apiece on 18 November 2024.