Catalina Resources Ltd (ASX:CTN) has intersected anomalous lithium and rare earth element (REE) mineralisation from its maiden aircore drilling program at the Dundas Project, situated within the Albany Fraser Belt of Western Australia.
The first assays at Dundas confirm grades up to 8,146 parts per million (ppm) total rare earth oxides (TREO), including 0.16% Nd₂O₃, in hole 22DAC095.
Another hole, 22DAC066, intersected 0.65% TREO, including 0.12% Nd₂O₃ and 0.14% La₂O₃, with coincident anomalous lithium geochemistry.
In addition, lithium averaging 84 ppm over 44 metres to the end of hole (EOH) and 103 ppm over 28 metres to EOH has also been intersected with anomalous REE assays also accompanying the lithium.
These very anomalous REE and lithium assays puts Dundas project on the path of a significant REE and lithium discovery in a highly prospective and very underexplored location.
Drill program
Catalina completed a 105-hole drill program totalling 2,909 metres with an average depth of 27.7 metres at the Dundas Project.
Assays indicate significant REE intersections up to 16 metres thick and anomalous lithium intersections up to 44 metres thick are present.
In addition, the assays outline an ‘exceptional’ heavy rare earth oxide (HREO) ratio of 19% of NdPr+DyTb to total TREOs.
These four REEs are valuable and are rare magnet metals, the most powerful electric motor magnets used today are known as permanent magnets because they maintain their magnetic properties.
Forward plan
A new conservation management plan (CMP) has been developed and lodged with the DBCA in November 2022 for the next phase of exploration including deeper drilling.
This CMP was updated and lodged in February 2023 following a meeting with DBCA and feedback received on the November draft version.
Catalina expects to begin deeper drilling, via RC methods, in a few months once the above processes are completed and approved and subject to weather conditions.