Australian explorer Catalina Resources (ASX:CTN) has defined a 600m-long drill target following an infill soil and rock chip sampling and geological mapping program at its Oak Hill Project in New South Wales.
The company says assays have outlined a ‘robust’ southwest-oriented geochemical anomaly that exceeds 600m in strike length and have also returned gold (Au) and silver (Ag) grades up to 1.4g/t Au and 28g/t Ag, respectively. Other grades returned include 0.44% lead (Pb) and 1.27% arsenic (As).
These grades were returned from an area of the project tenement covering the southwestern extension of a mineralised trend that contains 2 gold resources defined at both the Stoney Park and Elm Park prospects.
Catalina reports of these prospects boast a combined JORC Mineral Resource Estimate (MRE) of 154,000oz Au.
Additionally, aeromagnetic images taken during the program are noted to support an underlying structure coincident with the geochemical anomaly.
These results come following the delivery of additional assays that highlighted total rare earth oxide (TREO) grades exceeding 1% at the Dundas Project in Western Australia, as announced by Catalina in May this year.
Catalina reported these ‘high-grade’ rare earth element (REE) assays reinforced its belief that Dundas would emerge as a ‘significant’ asset in a prospective and ‘very underexplored’ location.
With this target at Oak Hill now defined, Catalina announces it will compile available data and conduct exploration studies to enable planning for a reverse circulation (RC) drilling program.
This drill program is expected to investigate the geochemical targets identified at Oak Hill and is scheduled for completion in July to September this year.
Catalina Resources is an ASX-listed mineral exploration and mine development company with a mission of pushing prospective mineral tenements into production and developing these ore bodies.
The company’s Oak Hill Project is located in the southern Lachlan Fold Belt in New South Wales, about 20km from the township of Albury, and covers a total land holding of 25km-square.
Write to Adam Drought at Mining.com.au
Images: Catalina Resources Ltd
