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Catalina Resources (ASX:CTN) has confirmed its latest drill run has kicked off on-site its Laverton Project in Western Australia’s Northern Goldfields.
Worth noting is that Catalina’s Laverton project is a dual project as far as mineral bounties are concerned – the acreage is confirmed, at least some in some pockets, to boast gold and rare earth element (REE) minerals.
Sniffing after what geotechs think could be a gold system underground, aircore drill rigs are now turning on the project acreage with management hoping to expand on drill hits from February.
During that earlier campaign, drillers hit a perhaps lacklustre intercept of only 1m @ 2.42g/t from 75m depth complemented by a 3m intercept @ 1.07gt gold from 49m depth.
Shareholders will be closely watching for updates in the lead up to return of results, likely hoping the company can find a thicker hit. Gold mineralisation is believed, as far as getotechs see it, to be associated with the “Barnicoat Shear Zone.”
Likewise with gold, investors will be watching closely to see whether or not Catalina can find more meaningful intercepts of REE mineralisation.
The company highlighted on Thursday:
- 01m @ 1.6% Total Rare Earth Oxides (TREO) from 28m depth
- 01m @ 0.26% TREO from 37m depth
- 05m @ 0.27% TREO from 52m depth
- 01m @ 0.72% TREO from 43m depth
- 04m @ 0.25% TREO from 75m depth
CTN last traded at 0.2cps.
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