Highlights

• Latest drilling led to significant rare earth (REE) and lithium intersections across Catalina’s Dundas project.
• The company plans to conduct deeper reverse circulation drilling across the project.
• The first half saw CTN securing tenement applications for REE, nickel and gold in the Laverton province.

Australian diversified mineral exploration and mine development company, Catalina Resources Ltd (ASX:CTN) saw major developments across its project portfolio in Western Australia and New South Wales during the first half ended 31 December 2022.

The major highlights of the period were tenement expansion along with identification of lithium, nickel and rare earth (REE) potential across the Dundas Project. The company also acquired the Laverton Project in the highly endowed Laverton District, where compelling under-cover gold and nickel targets were identified.

Dundas project developments stand out in H1

The period saw the completion of flora and fauna surveys over planned areas of initial exploration activities within the project area in the Dundas Nature Reserve. Members of the Ngadju Native Title Aboriginal Corporation conducted a cultural heritage survey over the company’s exploration tenements in southern part of E63/2046 and over E63/2048.

After securing approval for its program of works, the company completed aircore drilling in southern area of the tenement E63/2046. The campaign led to the intersection of pegmatites in 24 aircore holes. The company observed accessory minerals including tourmaline and beryl in several pegmatite intervals.

Major findings from drilling across Dundas (Data source: company update)

To know more about this development, read here

The company now plans to undertake deeper RC drilling to drill underneath and along strike of air core anomalies.

Seven tenement applications in highly prospective Laverton province

Catalina has been successful in identifying and securing seven tenement applications in the highly prospective Laverton province. These applications cover an area of 6,600 hectares in the province, which is believed to be the second highest endowed gold district in Western Australia owing to the presence of approximately 30 million ounces of gold.

An integrated approach enabled the company to locate a series of highly prospective under-cover drill targets with nickel and gold mineralisation within the tenements.

The company anticipates securing the tenements during the ongoing year.

CTN’s significant exposure to MGA’s high-quality portfolio   

The company sold its interest in Arunta Joint Venture to MetalsGrove Mining Limited (ASX:MGA), which got admitted to the ASX in July.

Catalina holds 4.7 million fully paid ordinary shares of MGA. The company says that this shareholding offers significant exposure to MGA’s high-quality project portfolio in Western Australia and the Northern Territory. The portfolio covers rare earth, manganese, copper-gold, lithium, and base metal projects.

New appointments strengthening CTN team 

During the period, the company roped in Mr. Richard Beazley as Non-Executive Director. Highly experienced Mining Engineer Mr Beazley brings with him a strong technical background and substantial background in corporate and operational management and leadership. He has worked across projects in the Africa and South America region, as well as Australia.

In early 2023, Mr. Michael Busbridge, a geologist with over 40 years of experience in the mining industry, joined the company as Technical Director. Mr Busbridge has worked on projects focused on various commodities such as gold, nickel, copper, lead and zinc, lithium, REEs, graphite and oil across Australia.

The first half also saw the company changing its name from Shree Minerals to Catalina Resources Ltd, in line with its strategic direction to focus on its exploration project portfolio in world-class mineral provinces.