Patronus Resources (ASX:PTN) Extends Gold Mineralisation at Glencoe Project
Drilling Program Results
Patronus Resources completed a 17-hole, 2,142m reverse circulation (RC) drilling program at the Glencoe Gold Project in the Pine Creek region, Northern Territory. Significant gold intersections include 1m @ 28.33 g/t from GLRC074, 3m @ 4.17 g/t from GLRC083, 5m @ 2.09 g/t from GLRC089, 3m @ 2.68 g/t from GLRC084, and 4m @ 1.81 g/t from GLRC086.
Project Expansion
Several drill holes intersected gold outside the existing Mineral Resource Estimate (MRE), significantly extending the strike and down-dip extent of the deposit. These results support the prospectivity of the entire Glencoe deposit and contribute to the broader Pine Creek Gold Project.
Future Exploration
Further work is planned to integrate these findings into the broader Pine Creek Gold Project later in 2025. Patronus aims to expand its gold, base metals, and uranium resources through extensive regional studies and continued drilling campaigns.
Executive Comments
Managing Director John Ingram stated, “The encouraging results received from our RC drilling program, in conjunction with on-ground technical studies, give us confidence that gold mineralisation is prolific outside the current MRE and that future reinterpretations of the deposit will pave the way for growth in our resource base in the Pine Creek region. The results from this program are being incorporated into a much larger district-scale exploration approach, with the goal being an increase in the size of the existing resources as well as the definition of multiple new deposit-scale gold, base metals and uranium targets.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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