Catalina Resources Ltd (ASX: CTN), an Australian diversified mineral exploration and mine development company whose vision is to create shareholder value through the successful exploration of prospective gold, base metal, lithium and iron ore projects and the development of these projects into production, has announced the commencement of drilling at its Laverton Project (E38/3697). The project is located within the Laverton Gold Province, an area known for significant mineralisation of gold, nickel, and rare earth elements (REEs). The drilling program is strategically positioned less than 2km from the world-class Mt Weld REE Mine, owned by Lynas Rare Earths Ltd (LYC).
The drilling aims to target previously identified high-grade REE intersections, notably the intersection in hole LVAC037, which showed over 10,000ppm TREO (1%). The assays from LVAC037 also revealed up to 0.3% NdPr (neodymium and praseodymium), exhibiting a high NdPr:TREO ratio similar to that found at the nearby Mt Weld carbonatite hosted REE deposit. Additionally, the program will explore significant gold intercepts, including 28m @ 1.09g/t Au from 57m (LVAC049).
Executive Director Ross Cotton stated that the follow-up drilling is targeting extensions to the standout intercept of 4m @ 10,000ppm TREO, located directly adjacent to the Mt Weld mine. He added that the mineralisation style, host geology, and proximity to Mt Weld suggest a strong structural link, which the current program is designed to test. The program also targets higher grade mineralisation in fresh rock at depth below the supergene gold intersected in the oxide profile.
The drilling program also aims to follow up a significant zone of gold mineralisation identified during previous aircore drilling along the interpreted trend of the regionally significant Barnicoat Shear Zone. Notable intercepts include LVAC049: 28m @ 1.09g/t Au from 57m, including 1m @ 9.69g/t Au from 57m. This announcement has been authorised for release by the Managing Director.
