Catalina Resources (ASX:CTN) Drives Exploration with Key Acquisition and Capital Boost in March Quarter

Highlights

• Catalina Resources acquired new projects in the Central Yilgarn region.
• High-grade walk-up drill targets have been identified.
• CTN received positive gold assay results from diamond drilling at the Lachlan Fold Belt project.
• The company raised approximately AUD 2.7 million through a share placement and a rights issue.

Catalina Resources Ltd (ASX:CTN), an Australian diversified mineral exploration and development company, continued exploration across projects during the latest quarter. Key developments included the completion of acquisition of projects in the Central Yilgarn region, positive assay results from diamond drilling at the Lachlan Fold Belt project, and a capital raise program.

Project Acquisition in Central Yilgarn Region Moves Forward

During the March quarter, Catalina Resources completed the acquisition of the Yerilgee and Evanston Greenstone Belt Projects within the Central Yilgarn region, marking a key step in its exploration strategy.

The company’s geologists have already identified walk-up drill targets featuring shallow, high-grade gold and silver intercepts, which have seen minimal follow-up and remain open along strike and at depth.

At the same time, the company has commenced negotiations to establish a Heritage Agreement, a step towards responsible and respectful exploration practices with traditional landowners.

Assays Confirm Gold Zones at Lachlan Fold Belt Project

The company also received assay results for two diamond holes (SRLRCD001–002) drilled in the previous quarter at the Lachlan Fold Belt project.

These holes were tested below earlier shallow RC drilling that intersected multiple zones of gold mineralisation linked to quartz-sulphide veining. The diamond drilling confirmed broad zones of alteration, including intervals of sulphide and quartz-sulphide veining, along with brecciation hosted in siltstone, further supporting the presence of a significant mineralised system at depth.

Secures Strategic Funding Boost

During the quarter, Catalina completed a share placement, raising AUD 500k (before costs) at AUD 0.0025 per share, and launched a non-renounceable rights issue targeting an additional AUD 2.2 million.

Catalina will also finalise a placement of 1.15 billion unlisted options at AUD 0.00001 to raise AUD 11,500, subject to shareholder approval at the May 2025 meeting. Directors Sanjay Loyalka and Ross Cotton have committed to subscribing for 50 million and 200 million options, respectively.

Shares of CTN last traded at AUD 0.0020 on 28 April 2025.