Catalina Resources (ASX:CTN) acquired a 100% interest in the Beasley Creek gold project in Western Australia in an agreement with North Andover Minerals, according to a Monday Australian bourse filing.

The firm will prioritize a review of historical data to refine and rank targets before moving into exploration drilling.

Catalina agreed to issue to the seller 15 million fully paid ordinary shares as well as 35 million performance rights, which will vest upon Catalina announcing a certain drilling intercept at the tenement within 36 months following completion.

It will also issue 100 million of performance rights, which will vest upon Catalina announcing the achievement of an inferred mineral resource of greater than or equal to 200,000 ounces of gold within 48 months after completion.