Catalina Resources Completes Aircore Drilling at Laverton Project
CATALINA RESOURCES LTD (CTN) Share Update September 2024 Sunday 29th
Catalina Resources Completes Aircore Drilling at Laverton Project
Catalina Resources Limited (ASX: CTN) has successfully completed a follow-up aircore drilling program at its Laverton Project, targeting gold and rare earth elements (REE).
Instant Summary:
- 27 aircore holes drilled for a total of 1,801 meters.
- Drilling targeted gold and REE within the Barnicoat Shear Zone.
- Assay results expected in approximately 8 weeks.
Drilling Program Overview
Catalina Resources Limited has completed a follow-up aircore drilling program at its Laverton Project. The program consisted of 27 aircore holes, totaling 1,801 meters, aimed at testing gold and REE targets within the Barnicoat Shear Zone.
The drilling was conducted to in-fill and extend previous drilling that intersected gold mineralization along the interpreted strike of the Barnicoat Shear Zone, situated between the Lily Pond Well and Pendergast gold prospects. Additionally, twelve holes targeted REE mineralization associated with magnetic anomalies identified by Southern Geoscience Consultants.
Sampling and Analysis
The aircore holes were sampled by taking 4-meter composites downhole, which were submitted to the Bureau Veritas Laboratory in Perth for analysis. The samples will be tested for low-level gold, nickel, and REE using Aqua Regia digest with ICP-MS finish methods AR001 and AR102. A 1-meter split of each sample was also collected and stored for follow-up analysis if required.
Assay results from this drilling program are expected to be available in approximately 8 weeks. The results will provide valuable insights into the mineralization potential of the Laverton Project.
Project Background
The Laverton Project, located within the Laverton Gold Province in Western Australia, covers an area of approximately 45 square kilometers. The region is known for hosting several world-class deposits of gold, nickel, and REE, including the Sunrise Dam, Wallaby, and Mt Weld REE deposits.
The February 2024 drilling program targeted areas along the strike from the Lily Pond Well Mineral Resource, which is hosted by the north-south trending Barnicoat Shear Zone. This shear zone is interpreted to link the Lily Pond Well resource with the Mon Ami and Ida H Mineral Resources to the north. The drilling also tested REE targets associated with magnetic anomalies.
Previous Drilling Results
Previous drilling at the Laverton Project has yielded promising results, including:
- LVAC009: 1m @ 2.42g/t Au from 75m
- LVAC012: 3m @ 1.07g/t Au from 49m
- LVAC023: 1m @ 16,426ppm TREO from 28m
- LVAC022: 1m @ 2,633ppm TREO from 37m
- LVAC022: 5m @ 2,777ppm TREO from 52m
- LVAC009: 1m @ 7,220ppm TREO from 43m
- LVAC009: 4m @ 2,506ppm TREO from 75m
The completion of the aircore drilling program at the Laverton Project is a significant milestone for Catalina Resources. The results of the assay analysis will provide crucial information on the mineralization potential of the project, which could positively impact the company's stock value. Investors will be keenly awaiting the assay results, as positive outcomes could lead to increased investor confidence and potential stock price appreciation.
Investor Reaction:
Analysts are likely to react positively to the completion of the drilling program, as it demonstrates Catalina Resources' commitment to advancing its exploration projects. However, the true impact on the stock will depend on the assay results. If the results confirm significant mineralization, it could lead to a positive revaluation of the company's assets.
Conclusion:
Investors should keep an eye on the upcoming assay results from Catalina Resources' Laverton Project. These results will be crucial in determining the future potential of the project and could have a significant impact on the company's stock value. Stay informed and consider the potential long-term benefits of this exploration program.