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Highlights
- Aircore drilling has commenced at the E38/3697 tenement in the Laverton Gold Province, Western Australia.
- This drilling follows the company’s earlier aircore campaign, which was completed in February 2024.
- The February 2024 drilling campaign revealed significant intervals of gold and REE (rare earth element) mineralisation.
Catalina Resources Limited (ASX:CTN) has commenced aircore drilling at E38/3697, a 45km2 tenement located in the Laverton Gold Province of Western Australia. This new drilling program follows the company’s previous aircore campaign, which concluded in February 2024.
Encouraging gold and REE assays
The February 2024 drilling campaign yielded notable gold and REE mineralisation intervals, including:
Significant gold and REE mineralised intervals
(Data source: Company update)
The company noted that the gold mineralisation is associated with veining and alteration within the Barnicoat Shear Zone, while the REE mineralisation is found in intrusive rocks near the Mt Weld carbonatite REE mine.
Additionally, multiple small-diameter bullseye aeromagnetic anomalies were drill tested, suggesting the presence of carbonatite bodies similar to those at Mt Weld.
More on E38/3697
The tenement is situated in a region known for hosting multiple world-class deposits of gold, nickel, and REE, including Sunrise Dam (>5Moz Au), Wallaby (>1.5Moz Au), Windara Nickel (85k tonnes nickel sulphide), and the Mt Weld REE deposit, which is one of the world’s highest-grade rare earth deposits, with a Mineral Resource of 54.7Mt @ 5.3% TREO.
Through the compilation and review of previous exploration data and reimaging of aeromagnetic data, promising gold, nickel, and REE targets have been identified.
Data source: Company update
CTN shares last traded at AU$0.002 apiece on 13 September 2024, with a market capitalisation of AU$3.09 million.
