Catalina Resources (ASX: CTN) has outlined a 600m long drill target with surface geochemistry at its Oak Hill Project in the Southern Lachlan Fold Belt, NSW.
Highlights
- The tenement covers the southwestern extension of a mineralised trend that contains two gold resources with a combined JORC Mineral Resource of 154koz Au.
- Catalina has completed in-fill soil and rock chip sampling and geological mapping of the target area along strike of the structure hosting the two resources.
- Assays up to 1.4 g/t Au, 28 g/t Ag, 0.44% Pb and 1.27% As have been received from rock chips.
- The soil and rock chip assays outline a robust southwest orientated geochemical anomaly exceeding 600m in strike length.
- Aeromagnetic images provide strong support of an underlying structure coincident with the geochemical anomaly.
The Oak Hill project covers an area of approximately 25 sq, km Catalina’s EL9346 abuts EL7544 on its eastern side. Within EL7544 the Stoney Park and Elm Park gold prospects, discovered in 2015 by Minerals Aust Pty Ltd, have a combined JORC Mineral Resource of 154koz Au.
During 2015, 66 reverse circulation (RC) holes were drilled on the Elm Park and Stoney Park properties in EL7544. The drilling at Stoney Park and Elm Park identified a zone of gold mineralisation in narrow quartz veins in Ordovician metasediments extending over a strike length of at least 2.5 km.
Known mineral occurrences within EL7544 include the Stoney Park workings and several small, abandoned gold mines. Gold grades in quartz veins are variable. The gold grade of individual veins, which are less than 0.5m in width can be very high. A vertical hole drilled down a quartz vein in the Stoney Park East zone intersected 8.0m at 13 g/t Au including 2.0m at 39 g/t Au. The width of mineralised intercepts >= 1 g/t Au in angled holes ranges from 1.0m to 9.0m. The mineralised veins dip steeply (80-850) to the east and generally appear to be bedding-parallel.
In April 2023, Catalina collected 14 rock chip samples and 65 soil samples during a regional mapping exercise of the tenement, EL9346. The rocks are anomalous in a range of elements including Au, As, Ag, Bi, Cu, Pb, Sb and Mo.
Catalina will now compile available data and do exploration studies to enable planning of RC drilling to evaluate the geochemical targets outlined in this announcement. It is expected that these studies and drill planning will be completed in the coming quarter July to September 2023 with the aim of embarking upon the drilling in the following quarter.
