Catalina Resources expands exploration portfolio

Catalina Resources (ASX:CTN) has announced the acquisition of the Yerilgee and Evanston greenstone belts from Dreadnought Resources Limited's subsidiary. Located in the underexplored Yilgarn Craton, Western Australia, the belts cover over 650 km². This acquisition presents a significant opportunity for mineral exploration, including gold, iron ore, lithium, nickel, and copper-zinc-silver deposits.

Catalina Resources' strategic acquisition overview

Catalina Resources has strategically acquired the Yerilgee and Evanston greenstone belts, enhancing its exploration potential within Western Australia's Yilgarn Craton. These belts, located about 190 km from Kalgoorlie, are part of the Western Yilgarn greenstone succession, known for diverse rock types conducive to gold mineralisation. The acquisition includes eight tenements, with Catalina making a cash payment and issuing shares to Dreadnought. A 1% net smelter return royalty is also part of the deal. With identified prospects and proven gold mineralisation, Catalina plans to initiate exploration activities in early 2025, focusing on high-grade gold and underexplored targets. This acquisition supports Catalina's ambition to discover new mineral resources and create shareholder value.

Executive insights on strategic acquisition

The acquisition aligns with Catalina's vision to create shareholder value through exploration and development of mineral projects. The underexplored nature of the region and its geological settings present a unique opportunity for significant discoveries.