Catalina Resources Ltd. is expanding its gold and base metals portfolio in Western Australia by acquiring an assembled portfolio of exploration assets across the Mid-West and Lake Johnston regions.
Catalina has agreed to acquire the assets from Dreadnought Resources Ltd. and exercise options with Rational Resources and Crucial Resources. The consideration involves a mix of cash and shares, alongside a 1 per cent gross revenue royalty on the projects.
The expanded portfolio includes the Kirkalocka project, located near the two-million-tonne-per-annum (Mtpa) Kirkalocka gold mine and processing hub, which is currently being refurbished for a planned 2026 restart.
It also features the historical high-grade Pithara Gold Mine, which previously produced roughly 9,000 ounces at an impressive 15.4 grams per tonne, and the underexplored Tallering project, which boasts over 30 kilometres of strike.
“The acquisition secures Catalina a strategic landholding across the Mid-West Region, where renewed investment and consolidation activity — including by Gylden Resources and the proposed reactivation of the Kirkalocka Mill — is supporting increasing exploration and development activity across the district,” said Catalina Executive Director Ross Cotton.
He noted that the projects host substantial historical datasets and multiple drill-ready targets capable of supporting rapid advancement.
“Collectively, the transaction adds scale, quality and near-term exploration opportunity across multiple advanced gold and base metal project areas.”
To fund the acquisition and subsequent geophysics and drilling, Catalina has received firm commitments for a AU$3 million private placement of 54,545,455 shares at 5.5 cents per share.
The placement puts Catalina in a strong financial position and enables the company to expand exploration activities with the proceeds from the placement primarily intended to be used acquisition of assets and associated exploration activities.