Catalina Resources Unveils Promising Gold and REE Results at Laverton Project

Catalina Resources Limited (ASX: CTN) has announced compelling results from its latest aircore drilling program at the Laverton Project, showcasing significant upgrades in both gold and rare earth elements (REE) mineralization.

Key Highlights

- Gold Discoveries: Noteworthy gold intersections include:

  - LVAC009: 1m @ 2.42g/t Au from 75m

  - LVAC012: 3m @ 1.07g/t Au from 49m

- REE Discoveries: Significant REE intersections include:

  - LVAC023: 1m @ 16,426ppm TREO from 28m

  - LVAC022: 5m @ 2,777ppm TREO from 52m

  - LVAC009: 1m @ 7,220ppm TREO from 43m

These results were derived from the resampling of mineralized intervals using 1m split samples, indicating higher grades compared to initial composite samples.

Detailed Findings

(Source: $CTN ASX Announcement)

Gold Mineralization:

The gold mineralization is associated with veining and alteration within the Barnicoat Shear Zone. This shear zone hosts several significant gold resources in the region, including Lily Pond Well, Mon Ami, and Ida H. The aircore drilling, which comprised 25 holes totaling 1,593 meters, identified a 300-meter-wide supergene gold anomaly. 

- LVAC012: Intersected 16m at 0.43g/t Au from 44m, including 4m at 0.95g/t Au from 48m.

- LVAC009: Exhibited 1m at 2.42g/t Au from 75m, indicating higher-grade zones within the target.

REE Mineralization:

REE targets were associated with point source magnetic anomalies, suggesting possible carbonatite intrusions similar to those found at the nearby Mt Weld mine.

- LVAC023: 3m @ 6,794ppm TREO from 28m, including 1m @ 16,426ppm TREO.

- LVAC022: 5m @ 2,777ppm TREO from 52m.

These REE results are hosted in intrusive rocks just 2km north of the Mt Weld carbonatite REE mine, underscoring the potential for significant REE deposits in the area.

Nickel Sulphide: 

Historical drilling in the Laverton region has revealed anomalous nickel geochemistry within the Pelican Ultramafic Unit, southwest of the Pelican Laterite Nickel resource.

• LPR021 and LPR023: These holes intersected notable nickel sulphide mineralization, highlighting the area's potential for nickel discoveries.

Next Steps

Catalina Resources plans to undertake follow-up aircore drilling to further delineate the gold and REE targets before transitioning to reverse circulation (RC) drilling to locate the bedrock sources of these mineralizations. The upcoming drilling program will focus on both gold and REE targets, with approximately 25 holes for 1,500 meters scheduled for mid-2024.

About Catalina Resources (ASX: CTN) 

Catalina Resources Limited offers a diversified portfolio of highly prospective projects in key mining regions, including the Laverton Gold Province and the Albany Fraser Orogen. The company's portfolio includes gold, base metals, lithium, and REE projects in some of Australia's most prolific mining regions.

The company's strategic focus on gold, base metals, lithium, and REE exploration provides a strong foundation for long-term growth.

1. Strategic Location: The Laverton region is home to several world-class gold and nickel deposits, offering a fantastic opportunity for new discoveries. Catalina’s other projects in the Albany Fraser Orogen, the Lachlan Fold Belt, and Kookynie West are also strategically positioned in areas known for rich deposits of gold, nickel, and REEs.
2. High-Grade Mineralization: Recent drilling at Laverton has confirmed significant gold and REE mineralization. Projects like Dundas in the Albany Fraser Orogen show promise for lithium pegmatite deposits, and the Lachlan Fold Belt projects hold potential for gold mineralization. Kookynie West also presents substantial gold exploration opportunities.
3. Experienced Management: The leadership team at Catalina Resources boasts extensive experience in exploration, project development, and corporate management, ensuring strategic and operational excellence.

Catalina Resources (ASX: CTN) Project Overview

Lachlan Fold Belt: Located in New South Wales, this exploration tenement package is situated in the highly prospective Lachlan Fold Belt. The Rock Lodge project shows potential for the Intrusion Related Gold System (IRGS) style of gold mineralization, while the Oak Hill project is adjacent to known gold resources at Stoney Park and Elm Park, totaling 154 K Ozs.

Nelson Bay Iron: This project is currently on care and maintenance, with efforts focused on re-permitting. It presents a strategic opportunity for future iron ore production once the necessary approvals are obtained.

Laverton: Situated in the Laverton Gold Province, this region hosts several important gold and nickel deposits, including Sunrise Dam, Wallaby, Granny Smith, and Lancefield. The Laverton project offers compelling under-cover gold and nickel targets, with excellent opportunities for discovery near operating mills.

Dundas: The Dundas project in the Albany Fraser Orogen is interpreted to occur along strike of the well-endowed Boulder Lefroy Fault Zone and the Zuleika Shear. This area is known for its world-class lithium pegmatite deposits, such as Liontown Resources' Buldania Lithium Project.

Kookynie West: Located south of Leonora, this project is in close proximity to Genesis Metals' Ulysses-Orient Well project and Metalicity's Kookynie project. The project covers a folded sequence of dolerite and basalt in the core of a regional scale fold, presenting significant exploration potential.

Experienced Management 

$CTN - Board of Directors

Mr. Sanjay Loyalka - Executive Chairman
Mr. Sanjay Loyalka brings extensive experience in CEO, general management, and corporate finance roles within the mining and metals sectors. As the founder of IACG Pty Ltd, he has been instrumental in cross-border M&A, strategic consulting, and mineral commodity trading. Notably, he led the acquisition and development of the Nifty and Mount Gordon Copper mines, resulting in a successful IPO and listing on the ASX.

Mr. Richard Beazley - Director
Mr. Richard Beazley is a highly experienced mining engineer with a strong technical background. He has held executive roles, including Chief Operating Officer for Sandfire Resources and Managing Director of Peak Resources Ltd. His experience spans corporate and operational management across Australia, Africa, and South America.

Mr. Michael Busbridge - Director
With over 40 years of experience, Mr. Michael Busbridge is a seasoned geologist who has held managerial positions in companies like Normandy Mining Ltd and Barrick Gold Australia. He has a proven track record of gold discoveries in both greenfields and brownfields terrains and extensive exploration experience in various minerals.

Mr. Martin Bennett - Director
Mr. Martin Bennett is an accomplished mining industry executive with significant project management and leadership experience. His previous roles include Technical Director for Shree Minerals and General Manager Exploration for Endeavour Mining in West Africa. He has a history of successful discovery and acquisition in multiple regions, including Australia, Africa, Canada, and Southeast Asia.

Conclusion

Catalina Resources Limited's recent exploration results at the Laverton Project highlight the company's potential to uncover significant gold and REE deposits. With a strategic portfolio spanning highly prospective regions such as the Lachlan Fold Belt, Nelson Bay Iron, Laverton, Dundas, and Kookynie West, Catalina Resources is well-positioned to capitalize on new discoveries and drive long-term growth. The experienced management team, led by industry veterans, ensures that the company is on a path to unlocking substantial shareholder value through meticulous exploration and development efforts.