Catalina Resources Expands Mid-West Gold Portfolio with $3M Placement and Drilling Progress

Mid-West Gold Portfolio Expansion and Capital Raise

Catalina Resources (ASX:CTN) has dramatically broadened its Mid-West gold presence, completing the acquisition of seven projects including Kirkalocka, Pithara, Tallering, and Warriedar. This move establishes a district-scale landholding around the Kirkalocka Gold Mine and processing facilities, aligning with the company's ambition to build a significant gold platform in Western Australia. To fund this expansion and ongoing exploration, Catalina raised $3 million through a placement.

The acquisitions bring exposure to multiple gold provinces and development opportunities, with the company swiftly initiating detailed reviews of historical data and field reconnaissance. These efforts have confirmed numerous high-priority targets, setting the stage for maiden drilling programs, particularly at Pithara and Kirkalocka, where heritage and land access approvals are underway.

Central Yilgarn Projects Show Consistent Gold Mineralisation

In the Central Yilgarn region, Catalina's Phase 1 drilling across Evanston and Yerilgee has delineated the Palisade Gold Project, integrating four prospects into a 12–14 km mineralised corridor. The drilling returned gold mineralisation in nearly half of the 69 RC holes, with 33 intersecting ≥0.3 g/t Au and 70 samples ≥0.5 g/t Au, confirming continuity across multiple deposits.

The company outlined an aggregate Exploration Target ranging from approximately 60,000 to 330,000 ounces of gold at grades between 0.76 and 3.08 g/t Au. Catalina plans to advance these deposits towards JORC-compliant Mineral Resource Estimates in the coming quarter, refining geological models and prioritising follow-up drilling targets.

Breakaway Dam Copper and Lithium Project Progress

Catalina's acquisition of the Breakaway Dam Project adds a multi-commodity asset featuring a copper-rich volcanogenic massive sulphide (VMS) system and lithium potential. Maiden drilling has expanded the interpreted mineralised strike by 70%, from 700m to 1.2km, with notable copper intercepts including 1.9m at 2.17% Cu from 198m.

Downhole electromagnetic surveys revealed multiple conductor plates, guiding priority targets for the next drilling phase. The company will also undertake a comprehensive review of lithium prospects, integrating historical and new data to sharpen exploration focus.

Beasley Creek Exploration Expands Anomalies and Secures Government Support

At Beasley Creek, Catalina's regional geochemical programs have extended gold, copper, and zinc anomalies, with the Flamingo gold anomaly lengthened by 1.8km and a 2.7km zinc anomaly defined. Rock-chip samples confirmed a broad copper-dominant system, returning up to 896 ppm Cu, while the Golden Hand prospect features a higher-intensity polymetallic centre.

The Western Australian government awarded up to $180,000 in co-funded drilling support under the Exploration Incentive Scheme, enabling Catalina to plan a targeted drilling campaign to test these anomalies.

Financial Position and Outlook

Catalina reported exploration and evaluation expenditure of $1.03 million for the quarter, primarily in Western Australia. The company ended the period with $1.72 million in cash reserves and continues to manage payments to related parties consistent with executive and director fees.

Looking ahead, Catalina plans to commence maiden RC drilling at Pithara, progress Kirkalocka drilling, and refine exploration targets across its Mid-West portfolio. The company is also advancing resource definition in Central Yilgarn and preparing for further drilling at Breakaway Dam and Beasley Creek.