Highlights

• Catalina Resources has received first assays from the recently concluded maiden air core drilling campaign at the Dundas project.
• The assays have confirmed presence of grades up to 0.81% total rare earth element oxides, including 0.16% Nd₂O₃, in hole 22DAC095.
• Another hole intersected 0.65% TREO with coincident anomalous lithium geochemistry.
• The results have highlighted an ‘exceptional’ heavy rare earth oxide ratio of 19% of NdPr+DyTb to total REEs.
• The company plans to undertake deeper RC drilling in the next few months.

Diversified mineral exploration and mine development company Catalina Resources (ASX:CTN) has shared updates relating the initial air core drilling program at its Dundas project that was concluded in December 2022.

According to the company release, it has received very anomalous rare earth (REE) and lithium assays, highlighting presence of significant REE intersections up to 16m thick and anomalous lithium intersections up to 44m thick. The company believes that the development marks progression towards a prominent REE and lithium discovery in a highly prospective and very underexplored location.

The coincidence of lithium with the anomalous REE geochemistry is uncommon which further highlights the prospectivity of the region.

data source: company update 

In-depth details of the drilling campaign

Under the 105-hole air core drill program, a total of 2909m was covered with an average depth of 27.7m with the purpose to blade refusal (rock too hard to penetrate).

There is a 6-20m blanket of transported colluvium and lake clays over the bedrock geology. With the objective of looking below this blanket, geochemical and lithological information of the bedrock was intersected through a successful air core drilling for a follow up reverse circulation drilling.

It is important to note that the geochemical halo has been identified to a potentially larger target at depth following the air core work.

The company will plan a deeper RC drilling to drill underneath and along strike of these air core anomalies.

Air core drilling and assay summary (Image source: CTN update)

Significance of drill assays

As per the anomalous REE and lithium drill assays, there is an ‘exceptional’ heavy rare earth oxide (HREO) ratio of 19% of NdPr+DyTb to total TREOs at Dundas. NdPr+DyTb stands for four valuable rare magnet metals.

The electric motor magnets known as permanent magnets are typically developed using neodymium iron boron (NdFeB), praseodymium (Pr) and dysprosium (Dy). In the recent times, there has been major growth in NdFeB magnets due to its greater application in the automotive sector and electric vehicle drivetrains.

REE enrichment in the regolith at Dundas

The company believes that the noteworthy REE enrichment in the regolith at Dundas is because of clay formation induced from weathering. Also, anomalous REE mineralisation is present in bedrock in multiple holes under the regolith horizons, suggesting potential exists at Dundas for higher grade, higher commercial value, hard rock REE mineralisation.

Drilling cross-section (Image source: CTN update)

Catalina Resources has received anomalous lithium in numerous air core holes, with lithium averaging 84 ppm over 44m to the end of hole (EOH) in 22DAC071 and 103 ppm over 28m to EOH in 22DAC073 accompanied by anomalous REE assays, including Nd and La. Also, many pegmatite bodies were recorded in some holes.

What are CTN’s plans for the upcoming months?

Over the next quarters, CTN plans to collect the 1m re-splits of the anomalous 4m composite samples, re-log lithologies and hold RC drilling underneath and along strike of the air core targets.

The ASX-listed firm is planning to kick start deeper reverse circulation (RC) drilling in a few months after completion of some essential processes.

CTN shares traded at AU$0.006 apiece on 27 February 2023.