Catalina Resources (ASX: CTN) Strikes High-Grade Gold and REE at Laverton Project

Key Highlights:

• Significant gold intersection: 44m at 1.01g/t gold, including intervals up to 2.22g/t.
• Promising REE results: 4m at 6632ppm TREO, with extended mineralization near magnetic anomalies.
• Upcoming RC drilling to target deeper mineralized zones along the Barnicoat Shear Zone.

In today’s ASX update, Catalina Resources (ASX: CTN) announced impressive results from its latest aircore drilling campaign at the Laverton Project in Western Australia. Among the standout discoveries was a robust 44-meter gold intersection averaging 1.01g/t, with high-grade pockets reaching up to 2.22g/t gold over 4 meters, further highlighting the project’s growing gold potential.

A major highlight includes a broad zone of gold mineralization with 44m at 1.01g/t Au from 44m in drill hole LVAC049. Within this interval, standout intercepts include 4m at 2.22g/t Au, 4m at 1.96g/t Au, and 8m at 1.45g/t Au.

44m at 1.01g/t Au from 44m in LVAC049 Includes: 4m at 2.22g/t Au from 48m 4m at 1.96g/t Au from 64m 8m at 1.45g/t Au from 72m

Equally noteworthy is the rare earth element (REE) discovery at Laverton, where Catalina recorded a 4-meter interval containing 6632ppm Total Rare Earth Oxides (TREO). Located near key magnetic anomalies, this high-grade REE intersection opens up potential for additional discoveries in a region already renowned for its mineral wealth. Other strong results included 8 meters at 6132ppm TREO, extending the mineralized footprint across key intrusion sites.

Catalina’s Executive Chairman, Sanjay Loyalka, expressed optimism, pointing to these results as a “material upgrade” from earlier assays. This finding suggests proximity to a larger bedrock source along the Barnicoat Shear Zone, an area well-regarded for its prolific gold and rare earth deposits. The company’s work to extend the mineralized footprint near REE-rich intrusions is showing promising early results, with a notable 8-meter intersection returning a high concentration of 6132ppm TREO.

Strategically located in Laverton’s mineral-rich terrain, Catalina’s project is surrounded by renowned assets, such as Sunrise Dam and the Granny Smith gold mines. The region’s geology, marked by lateritic layers over mineralized zones, signals untapped potential beneath the weathered rock, particularly with signs pointing to deeper sulphidic mineralization.

Looking ahead, Catalina plans to conduct reverse circulation (RC) drilling in the coming months, targeting the gold source below the laterite profile, an area believed to be influenced by the Barnicoat Shear Zone. The step toward RC drilling represents an important next phase, positioning Catalina to delve deeper into the mineralized structures that have thus far shown strong gold and REE grades.

As of 1st November 2024, Catalina Resources (ASX: CTN) shares are trading at A $0.004.