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Highlights
- Catalina Resources has secured exploration license E38/3847 near the Burtville Gold Mine.
- The tenement is located within the Burtville-Karridale mine corridor (BKMC), hosting over 1Moz of gold.
- Catalina plans to begin geochemical sampling to identify potential drill targets.
Catalina Resources Limited (ASX:CTN) has been granted exploration license E38/3847, located near the Burtville Gold Mine, following a favourable outcome in the ballot for its application.
This tenement is positioned at the northern end of the prospective Burtville-Karridale mine corridor (BKMC), which hosts significant gold deposits, including the Burtville and Karridale deposits. The BKMC corridor is home to a large bulk-tonnage gold mineralisation system, with resources exceeding 1 million ounces (Moz) of gold.
The grant of E38/3847 expands Catalina's existing exploration tenure in the Laverton Tectonic Zone, a highly mineralised zone.
Regional location of Catalina’s tenement portfolio in the Laverton Tectonic (Image source: Company update)
Untapped Potential of the Exploration License
E38/3847 is an underexplored tenement, and historical exploration in the area has been sporadic and lacked a systematic approach. Past activities include two shallow vacuum drilling traverses conducted by Placer (Granny Smith) Pty Ltd in 2000, with hole depths limited to 10m which did not penetrate the transported overburden layer.
Additionally, Crescent Gold conducted nickel exploration in 2009, drilling one RC hole within the tenement, but assaying did not include gold.
Next Steps
The company plans to carry out geochemical sampling along the projected strike of the BKMC as part of its initial efforts to generate drill targets within E38/3847.
CTN shares were trading at AU$0.003 per share at the time of writing on 17 December 2024.
