Catalina Resources (ASX:CTN) is lining up additional aircore drilling to follow up on recent gold and rare earth element (REE) results at its Laverton Project in Western Australia.
Ahead of drilling, the company will undertake re-sampling of 1m split samples. The samples are scheduled to be collected from the site next week with assays expected in six to eight weeks.
Catalina, which has a $4.95 million market capitalisation, says the gold results — generated from 25 aircore holes testing both gold and REE targets — are aligned along the interpreted strike of the Barnicoat Shear Zone.
Meanwhile, the REE results are associated with the point source of magnetic anomalies that were interpreted to be intrusions.
Preliminary 4m composite sampling has returned a top result of 4m @ 0.95 grams per tonne gold from 48m, while drill testing of the magnetic anomalies intersected 3m @ 0.37% total rare earth oxides.
Catalina Resources is a diversified mineral explorer and mine developer focused on the exploration for gold, base metals, lithium and iron ore projects, and the development of these projects into production.
The company’s Laverton project sits in the Laverton Gold Province, which is known to contain some 30 million ounces of gold, making it the second-highest-endowed gold district in Western Australia behind Kalgoorlie, according to Catalina.
Write to Adam Drought at Mining.com.au
Images: Catalina Resources
