Catalina Resources (ASX: CTN) Completes Aircore Drilling at Laverton Project, Targeting Gold and Rare Earth Elements

Key Highlights:

• Catalina Resources completes follow-up aircore drilling at the Laverton Project, testing gold and REE targets.
• A total of 27 aircore holes were drilled over 1,801 meters.
• Drilling focused on the Barnicoat Shear Zone and magnetic anomalies associated with REE mineralization.
• Assay results expected in approximately 8 weeks, with samples submitted for analysis in Perth.

Catalina Resources Advances Laverton Project with Completion of Aircore Drilling Program

Catalina Resources Limited has successfully completed a follow-up aircore drilling program at its Laverton Project (E38/3697), located in the prolific Laverton Gold Province of Western Australia. The latest phase of exploration involved the drilling of 27 aircore holes, covering a total of 1,801 meters. The program was designed to further investigate gold mineralization along the Barnicoat Shear Zone and to explore rare earth element (REE) targets associated with magnetic anomalies.

Drilling Focused on Key Gold and REE Targets

The aircore drilling was concentrated in two main areas. Fifteen holes were drilled along four traverses to extend and infill the previous drilling that identified gold mineralization along the Barnicoat Shear Zone. This zone links the Lily Pond Well and Pendergast gold prospects, and has been previously explored for its significant gold potential.

The remaining twelve holes targeted rare earth element (REE) mineralization, focusing on point source magnetic anomalies identified by Southern Geoscience Consultants. These anomalies are of particular interest due to the potential for discovering high-grade REEs, a critical component in modern technology and green energy solutions.

SOURCE: $CTN ASX Announcement 

Background on the Laverton Project

The Laverton Project sits within a highly mineralized region, which hosts several world-class deposits including Sunrise Dam (>10Moz Au), Wallaby (>8Moz Au), and Mt Weld—one of the world's richest rare-earth deposits. Catalina’s tenement, E38/3697, is approximately 20km southeast of Laverton and covers an area of 45km².

Previous exploration at Laverton has produced encouraging results, with notable drill intercepts including:

• LVAC009: 1m @ 2.42g/t Au from 75m
• LVAC012: 3m @ 1.07g/t Au from 49m
• LVAC023: 1m @ 16,426ppm TREO from 28m
• LVAC022: 5m @ 2,777ppm TREO from 52m

These results underscore the potential of the Laverton Project as a significant source of gold and rare earth elements.

Next Steps and Assay Results

Samples from the recent aircore drilling have been submitted to Bureau Veritas Laboratory in Perth, where they will undergo detailed analysis using Aqua Regia digestion with ICP-MS finish for low-level gold, nickel, and REEs. In addition, a 1m split of each sample has been stored for further follow-up analysis, if required. Results from this program are expected in approximately 8 weeks.

The findings from this round of drilling will help define the next steps in exploration, with further drilling likely to focus on high-potential targets identified by the current program.

As of September 30th, 2024, $CTN shares (ASX: CTN) are trading at A$0.004.