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Highlights
- Catalina has signed a binding agreement to acquire Spinifex Silver Pty Ltd, securing a district-scale silver portfolio covering ~265 km² across the Fraser North and Nabberu projects.
- Historical drilling at the Fraser North Project has identified high-grade silver intercepts within a mineralised trend extending ~17.5 kilometres.
- The Nabberu Project, located within the Earaheedy Basin, is considered prospective for sediment-hosted SEDEX-style silver mineralisation within the Frere Formation.
- The transaction is considered cost-effective given the size, geological setting and location of the portfolio.
Catalina Resources Limited (ASX:CTN) has executed a binding option agreement to acquire Spinifex Silver Pty Ltd, securing a district-scale silver exploration portfolio in Western Australia. The proposed acquisition includes exploration licences covering approximately 265 square kilometres across the Fraser North and Nabberu projects, located in the Eastern Goldfields and Pilbara regions.
The transaction aligns with Catalina’s strategy to advance exploration across multiple projects while shifting its portfolio focus toward scalable silver, gold and copper opportunities in Western Australia.
Transaction Details
Consideration for the transaction includes the issue of AUD 250,000 in shares to the vendors or nominees based on a five-day volume weighted average price, subject to standard conditions such as due diligence and regulatory approvals. The company noted that the acquisition structure has been designed to be cost-effective given the geological setting, location and size of the portfolio.
Fraser North Project - Historical High-Grade Silver Intercepts
The Fraser North Project lies roughly 300 kilometres east of Kalgoorlie within the Albany–Fraser Orogen, a geological province known for hosting major mineral deposits. Historical exploration undertaken by companies involved airborne geophysical surveys and aircore drilling campaigns.
Drilling recorded several notable silver intercepts, including-
- 0m @ 816.5 g/t Ag and 0.2% Co from 8m (VPA021)
- 0m @ 319 g/t Ag from 16m (17AFAC30049)
- 0m @ 48.2 g/t Ag and 0.2% Co from 14m(17AFAC30054)
- 0m @ 40.9 g/t Ag and 0.2% Co from 10m (17AFAC30068)
- 0m @ 51.1 g/t Ag and 0.2% Co from 36m (VPA103)
- 0m @ 32.1 g/t Ag and 0.2% Co from 9m (VPA075)
These results define a mineralised silver trend extending about 17.5 kilometres across the project area.
The presence of shallow mineralisation and the large strike length identified through historical exploration indicate multiple areas for follow-up drilling and target development.
Nabberu Project - Basin-Hosted Silver Potential
The Nabberu Project is located within the Earaheedy Basin, prospective for SEDEX-style silver mineralisation within the Frere Formation.
Historical drilling completed by Goldstone Resources identified anomalous silver mineralisation at the site, including an intersection of-
- 6m @ 14.8 g/t Ag from 60.6 m including 1.2m @ 41.6 g/t Ag (ZK1401)
- 0m @ 9.4g/t Ag from 82.5m (ZK1401)
Approximately 18 kilometres of prospective strike at the project remains largely untested.
Planned Exploration Programs
Following completion of the transaction, Catalina plans to undertake a systematic evaluation of the Spinifex Silver Project. The initial program is expected to involve the review and reinterpretation of historical geological and geophysical datasets, alongside geochemical sampling and structural mapping across key target areas.
The company also intends to design follow-up drilling programs to test priority targets at both Fraser North and Nabberu.
The acquisition of Spinifex Silver provides Catalina with exposure to district-scale silver exploration opportunities across two project areas in Western Australia. Historical drilling at Fraser North and basin-hosted potential at Nabberu create a foundation for further exploration.
CTN shares were trading at AUD 0.08 per share at the time of writing on 16 March 2026.
