Catalina Resources Ltd (ASX:CTN) has uncovered a robust 600-metre-long geochemical anomaly with the potential to host gold, silver and other minerals during a surface sampling program at Oak Hill Project in the Southern Lachlan Fold Belt of NSW.
The discovery, within the exploration company’s EL9346 tenement, covers the southwestern extension of a mineralised trend that contains two gold resources, Stoney Park and Elm Park, which together have a JORC mineral resource of 154,000 ounces of gold.
Catalina is planning to drill the target 20 kilometres northwest of the town of Albury in southern New South Wales later this year.
The drill target is shown by the green dotted line.
Geochemical sampling
In April, Catalina collected 14 rock chip samples and 65 soil samples from the target area along strike of the structure hosting the Stoney Park and Elm Park gold prospects.
Assays up to 1.4 g/t gold, 28 g/t silver, 0.44% lead and 1.27% arsenic were returned from the rock chips.
As well, aeromagnetic images provided strong support of an underlying structure coincident with the geochemical anomaly.
Forward plan
Catalina will compile and study the available data to prepare for a reverse circulation drilling program in the fourth quarter.
The study and drill planning is expected to be completed by the end of the current quarter.
Regional location of the Oak Hill prospect.