Catalina Resources Reports Strong Quarterly Results with Significant Gold and REE Discoveries

Highlights

• Laverton Project: High levels of gold and REE mineralization discovered.
• Gold Discovery: High-grade gold intercepts including 1m at 2.42g/t Au.
• REE Discovery: Notable REE results (1m at 16,426ppm TREO).

The Quarterly Activities Report ending June 30, 2024, was published by Australian mineral exploration company Catalina Resources (ASX: CTN). The most interesting parts of this report include the notable progress achieved for the Laverton and Lachlan Fold Belt projects.

Project Updates

Here are some of the most significant updates in this quarterly report:

Laverton Project, Western Australia

The Laverton Project exploration activities of Catalina (ASX: CTN) have produced remarkable results, as the Barnicoat Shear Zone has been found to contain high-grade gold and rare earth elements (REE) mineralization. The business has determined a number of interesting objectives for additional research, including:

• Gold mineralization: There may be a major gold system present based on intercepts of more than one meter that grade more than two grams of gold per ton.
• REE mineralization: Considering the rising need for these vital minerals around the world, it is worth noting the discovery of REE mineralization within the project area. The business has found several REE-enriched areas that need more research.

An aerial shot of the completed holes and ideal gold/REE intersections

To take advantage of these encouraging findings, Catalina Resources (ASX: CTN) intends to carry out a comprehensive drilling program to confirm the extent of the mineralized zones and assess their viability for economic growth.

Lachlan Fold Belt Project, New South Wales

Obtaining the required permits to conduct research at the Rock Lodge site, the business has made significant strides towards its Lachlan Fold Belt Project. This significant achievement paves the way for an impending diamond drilling campaign that will investigate the mineralized zones found through earlier RC drilling.

The business is optimistic that the upcoming diamond drilling campaign will yield vital data needed to evaluate whether the project has the potential to contain a sizable mineral deposit.

Significant drilling intersections and location of drilling cross section

Future Outlook

The finding of high-grade gold and REE mineralization in the Barnicoat Shear Zone represents a major advancement for the Laverton Project. The purpose of the company's upcoming follow-up drilling program is to define a potentially significant resource and broaden the known mineralized zones.

Deeper diamond drilling for the Lachlan Fold Belt Project is possible due to the Rock Lodge project’s successful completion of regulatory procedures. To find possible high-grade zones and gain a greater understanding of the project's mineralisation potential, this exploration phase is essential.

Moreover, Catalina Resources' (ASX: CTN) aggressive search for fresh exploration prospects in base metals, lithium, gold, and rare earths shows the company's dedication to expansion and diversification.

Potential Impact and Investor Sentiment

Investor interest in Catalina Resources (ASX: CTN) is going to rise in the months to come. The report shows notable exploration results, positioning the company as a big player in the mining industry. Thanks to its strategic approach and access to high demand commodities, Catalina Resources (ASX: CTN) is a company to watch.

Catalina Resources' (ASX: CTN) shares are trading at A$ 0.003 as of 24 July 2024.