Catalina Resources (ASX:CTN) announced an expansion of its Western Australian portfolio through a binding agreement to acquire 100% of Spinifex Silver.
The strategic move secures a district-scale silver portfolio covering approximately 265km2 across the highly prospective Fraser North and Nabberu projects.
The acquisition is headlined by the Fraser North Project, situated within the Albany-Fraser Orogen, a region renowned for major deposits such as Nova-Bollinger.
Historical data from the site reveals a 17.5-kilometre mineralised trend, with previous intercepts yielding high-grade results of up to 4 metres at 816.5 g/t silver from a depth of only 8m.
Meanwhile, the Nabberu Project in the Earaheedy Basin offers additional potential for SEDEX-style silver mineralisation within the Frere Formation.
The low-cost acquisition structure is designed to preserve capital while adding substantial "optionality" to Catalina’s existing assets.
The company has been on a period of aggressive corporate growth, recently reporting gold hits of 48m at 2.61 g/t at its Chicken Little prospect in the Central Yilgarn.
Furthermore, Catalina has bolstered its copper pipeline through the Breakaway Dam and Aerosmith projects, alongside the acquisition of Auric North.
At the time of reporting, Catalina Resources' share price was $0.079.