Catalina Resources Ltd (CTN.ASX) 48m at 2.61g/t Au from 15m at Yerilgee WA
Catalina Resources Limited (ASX:CTN) reported exceptional high-grade gold results from its Phase 1 RC drilling at the Chicken Little Prospect, part of the Company's 100%-owned Yerilgee Project in Western Australia's highly prospective Central Yilgarn region (figure 1*).
Highlights
- Significant high-grade gold mineralisation at shallow depth (~15m) intersected atthe Chicken Little Prospect within the Yerilgee Project
- Assay results from the first drill hole (26YGRC022) intersect 48m @ 2.61g/t Au - with the hole ending in mineralisation
- Significant intersections from drill hole 26YGRC022 (>0.5 g/t) include:
o 20m @ 5.64 g/t Au from 40m including 8m @ 11.6g/t Au from 42m and 3m @ 2.72 g/t Au from 53
o 3m @ 1.12 g/t Au from 16m
o 3m @ 0.96 g/t Au from 34m
- Individual assays returning up to 16.0 g/t Au
- Drilling ended in mineralisation (EOH), demonstrating the gold system remains open at depth and warrants follow-up testing
- Further assays for remaining 10 holes (655 m) within in the Chicken Little prospect are pending
- Pro-forma cash position of approximately A$4.32 million*, supporting follow-up drilling at Chicken Little
EXCEPTIONAL SHALLOW GOLD INTERCEPT CONFIRMS HIGH-GRADE SYSTEM AT CHICKEN LITTLE
The first hole reported has intersected a broad, shallow, high-grade gold zone featuring an outstanding internal core of very high-grade mineralisation, significantly enhancing the emerging scale potential of the system.
A TRANSFORMATIONAL RESULT FOR YERILGEE
The reported intersection confirms a coherent, thick mineralised structure hosted within banded iron formation, displaying a strong grade profile with a high-grade core surrounded by a substantial mineralised halo.
The continuity of elevated gold values over multiple consecutive one-metre samples strongly supports the robustness of the geological model and highlights clear potential for strike extension, depth extension and resource-scale continuity.
Executive Director Ross Cotton commented:
"This is an exceptional result and a genuine step-change for Yerilgee.
To intersect 48 metres at 2.61grams per tonne from just 15 metres depth - including 8 metres at 11.6 grams per tonne - in our first reported hole is an outstanding outcome.
The width, grade and shallow position of this mineralisation materially elevates the potential of Chicken Little and validates our geological model for the broader Yerilgee corridor.
What is particularly compelling is the strength and continuity of the high-grade core within a much broader mineralised system. This is exactly the architecture we look for when targeting scalable gold systems in the Yilgarn.
With assays pending from a further ten holes at Chicken Little and approximately 4,000 samples still to be received across the Phase 1 campaign, we believe this is just the beginning of defining a much larger gold system at Yerilgee.
Importantly, following the recent portfolio rationalisation and placement to Newcam Metals, Catalina expects to hold an indicative cash balance of approximately A$4.32 million*, positioning the Company to advance systematic follow-up drilling at Chicken Little"
PHASE 1 CAMPAIGN MOMENTUM
These results form part of Catalina's Phase 1 drilling campaign totalling 8,694m of RC and Aircore drilling across the Central Yilgarn Project, with drilling and assay results from approximately 4,000 samples still pending.
The Phase 1 program was commenced at the start of December 2025 and was successfully completed on Sunday 22 February 2026. The program formed the initial focus of Catalina's broader Central Yilgarn drilling campaign.
Drilling at Chicken Little was designed to target a ~400m mineralised zone previously identified through earlier surface sampling, historical RC drilling, and more recent work completed by other operators (figure 2*).
Gold was first recognised at surface in 2018, with follow-up RC drilling producing significant intercepts including:
- 56m @0.8 g/t from 0m to EOH, including 24m @ 1.6 g/t Au from 0m and 9m @ 3.3 g/t Au from 12 m (BARAC0477)
- 45m @ 0.4 g/t Au from 6 m, including 8m @ 0.9 g/t Au and 52.8 g/t Ag from 10m (BARRC025)
More recently, drilling completed in 2024 by Dreadnought Resources (ASX:DRE) further refined the geological interpretation. Their program comprised two RC holes (total 270 m), which intersected a
broad ~40 m zone of moderately to strongly sulphidised and variably oxidised banded iron formation, including an internal felsic schist unit interpreted as either a highly altered sedimentary horizon or a narrow felsic porphyry.
Dreadnought's results included:
- 17m @ 4.1 g/t Au and 28.0 g/t Ag from 53m, including 4m @ 14.9 g/t Au and 72.2 g/t Ag from 54m (CYRC012)
Collectively, these results defined a clear mineralised corridor, and the current drilling was designed to test and refine this zone (figure 3*).
CATALINA 2026 RESULTS
Results reported here relate to drilling completed at the Chicken Little prospect and the first drill hole reported. Assay results for the remaining 10 holes (655 m) at Chicken Little are pending.
Assay results from continuous one-metre samples collected at the Chicken Little Prospect have confirmed the presence of a coherent high-grade gold zone supported by a broader mineralised halo, with mineralisation extending from 15m to end of hole (63 m) and averaging 2.61 g/t Au inclusive of all sub-cut-off intervals and internal dilution.
Significant intersections included (>0.5 g/t Au with no more than 2m consecutive internal waste, including higher grade intersections > 5g/t Au):
- 20m @ 5.64g/t Au from 40m including 8m @ 11.6g/t Au from 42m and 3m @ 2.72 g/t Au from 53
- 3m @ 1.12 g/t Au from 16m
- 3m @ 0.96 g/t Au from 34m
Mineralisation commences from approximately 16 metres downhole, within a shallow position relative
to the overall drilling profile (figure 4*). Mineralisation is hosted with the banded iron formation. Full table of results and drill collar details contained in Appendix 1*.
These results demonstrate a well-developed mineralised structure characterised by a high-grade central zone and multiple metres of supporting moderate-grade mineralisation above the applied cutoff.
The continuity of elevated gold values across successive samples provides strong support for the geological interpretation at Chicken Little and highlights the potential to define mineralisation both along strike and at depth.
IMPLICATIONS FOR SYSTEM SCALE AND EXPANSION
The initial results from Chicken Little materially advance the Company's understanding of the emerging gold system at Yerilgee. The intersection demonstrates a combination of shallow position, meaningful width and concentrated grade that is consistent with a coherent mineralised corridor. Key observations arising from this first reported hole include:
- Shallow gold system defined, with mineralisation commencing from ~15 m downhole and extending across a 20 m interval.
- Presence of a concentrated very high-grade internal core within a broader mineralised envelope.
- Scale and grade profile consistent with a structurally controlled mineralised corridor rather than a narrow-isolated occurrence.
- Consistent gold distribution across successive samples supporting geological continuity.
- Hole terminated in mineralisation, indicating mineralisation remains open at depth.
- Assays pending from ten additional holes, with ~4,000 samples outstanding across the broader Phase 1 program.
Collectively, these characteristics support the potential for lateral and depth extensions within the broader Yerilgee mineralised corridor as further drilling results are received.
NEXT STEPS
Results from approximately 4,000 samples remain pending. As assays continue to be received, further assessment will integrate detailed geological logging, structural interpretation and modelling to guide follow-up drilling at the prospect.
Following completion of the divestment of the Nelson Bay River Project and the placement to Newcam Metals Pty Ltd, Catalina expects to hold an indicative cash balance of approximately A$4.32 million (subject to completion). This provides the Company with a strong funding position to advance systematic follow-up drilling at Chicken Little without the requirement for near-term capital raising.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/N4F32KN2
Investors - Shareholders Ross Cotton Executive Director T: +61 (0)8 6165 8858
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