Catalina Resources Ltd (CTN.ASX) Accelerates Mid-West Exploration Activities
Catalina Resources Limited (ASX:CTN) announced an update on activities currently underway across the recently acquired Mid-West Projects1 in Western Australia, comprising the Kirkalocka, Pithara, Warriedar and Tallering project areas (figure 1).
Highlights
- Exploration planning across Mid-West tenure commenced with field reconnaissance scheduled for mid-June.
- Drill planning for priority targets expected within approximately six weeks
- Technical review and drill planning across expanded Mid-West projects includes the Kirkalocka Project, which is directly adjacent to the Kirkalocka Gold Processing Plant currently being advanced toward recommencement 2Mtpa throughput)
- Heritage, access and stakeholder activities underway to support rapid progression toward drilling
- Recent capital raising positions Catalina to advance near-term drilling across priority target areas. Indicative cash position is approximately $5.037 million*
Following completion of the acquisition, the Company commenced a systematic technical review of geological, drilling, geochemical and geophysical (including radiometric) datasets across the portfolio.
This work includes the generation and prioritisation of exploration targets for field inspection in midJune. The extensive historical datasets provide a strong basis for rapid advancement of priority targets to drill-ready status.
At the same time, the Company commenced heritage due diligence and land access activities across priority areas. Engagement with local landholders and farming stakeholders is underway to support access planning for upcoming drilling programs.
Executive Director, Ross Cotton, commented:
"Catalina moved quickly to commence review and planning activities across the Mid-West portfolio following completion of the acquisition.
Activities are currently underway across the portfolio with the objective of progressing priority target areas toward drilling as soon as possible.
Following completion of the recent capital raising associated with the acquisition, the Company is funded to progress review activities and initial drilling programs across priority target areas as planning and access activities are completed.
This portfolio provides Catalina with increased exposure to a region where processing infrastructure is becoming increasingly active, including the Kirkalocka processing plant. This has recently been demonstrated through market activity associated with toll treatment and processing arrangements in the district.
The Company considers its position within the Mid-West region, including the Kirkalocka tenements adjacent to the Kirkalocka processing plant, to represent a meaningful advantage as exploration activities across the portfolio advance."
The Mid-West Projects comprise a substantial landholding prospective for gold and base metal mineralisation across several underexplored greenstone belts in Western Australia. The portfolio includes historical workings, previously identified drill targets, geophysical anomalies and areas of limited modern exploration.
Historical exploration across the project areas has defined mineralisation, multiple mineralised trends and extensive datasets, highlighting several areas of geological prospectivity for further work.
Importantly, several areas within the portfolio remain underexplored and include high-grade orogenic gold and VMS-style systems characterised by extensive surface mineralisation and major untested drill targets.
Catalina anticipates completing the technical review, target prioritisation, field reconnaissance and drill planning within approximately six weeks.
The review will incorporate historical data compilation, target ranking, heritage and access considerations, and planning for initial drilling programs across priority target areas.
The Company's current focus is progressing priority targets toward drill testing as soon as practicable following completion of planning and access activities.
The Company will continue to update shareholders as exploration activities progress.
*(based on the cash balance as at 31 March 2026 and the net proceeds of the Placement, including future shareholder approval of Tranche 2)
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Y6524HY0
Investors - Shareholders Ross Cotton Executive Director T: +61 (0)8 6165 8858
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