Kalkine: Paladin Energy Advances High-Grade Uranium Exploration at Patterson Lake

Highlights:

• Paladin Energy completes extensive winter drilling program at Patterson Lake South project

• Elevated radioactivity identified at Saloon East zone southeast of Triple R deposit

• New mineralised zones discovered within underexplored Athabasca Basin corridor

Paladin Energy (ASX:PDN), listed on the ASX 200 index , has concluded a detailed winter exploration campaign at the Patterson Lake South uranium project located in the Athabasca Basin, Saskatchewan. The region is recognised globally for its prolific uranium deposits and forms part of Paladin’s broader strategy to expand high-grade resource discoveries in Canada. The exploration program marks another step in the company’s broader exploration approach across its portfolio, which contributes to uranium-focused developments within the broader materials segment of the ASX 200.

Winter Drilling Program and Location Focus

The completed campaign involved drilling activities from February to May, with drillholes totalling several kilometres in aggregate length. A significant portion of the program focused on the Saloon East area, positioned southeast of the known Triple R deposit. This location lies within the expansive Patterson Lake South property, which remains largely underexplored beyond the existing deposit zones.

All exploration efforts at Saloon East recorded elevated radioactivity across multiple geological zones. Notably, the readings from downhole gamma probes reached some of the highest levels encountered outside the Triple R deposit. These findings point to consistent mineralisation within a defined zone of hydrothermally altered and structurally deformed basement rock formations.

Structural Geology and Drilling Outcomes

Drilling defined radioactivity within two segments of Saloon East, separated by a corridor of significant length, and situated at vertical depths ranging broadly below the surface. The geology of this zone is characterised by steep southeast-dipping structural patterns, suggesting a continuous corridor of alteration and deformation, which is often associated with uranium presence in the Athabasca Basin.

The broader Saloon Trend, where exploration was focused, extends across a linear path parallel to the shear zones that contain the Triple R deposit. This trend spans a substantial strike length and has been a primary area of drilling in both the previous and current calendar years. Recent drillholes along this trend have revealed widespread elevated radioactivity, particularly in locations northeast of earlier intersected zones.

Key Drillholes and Prospective Areas

One of the notable outcomes was the drilling at Saloon East, where multiple drillholes encountered strong radioactivity. Specifically, two drillholes yielded results that reinforced earlier data from the second half of the previous year. Additionally, another drillhole northeast along the trend revealed an extensive zone of elevated radioactivity, leaving an intermediate segment between zones untested and geologically significant.

The distance between these two known zones within Saloon East now highlights a stretch that remains open for future exploration. This section is considered geologically consistent with surrounding mineralised areas and offers a continuous structural setting within the Patterson Lake Conductive Corridor.

Exploration Strategy and Project Significance

According to Paladin Energy, the exploration results at Saloon East reflect the most substantial radioactivity levels identified outside the primary deposit. The Canadian-based exploration team noted widespread hydrothermal alteration throughout the drill core samples, consistent with significant mineralisation systems.

With the broader Patterson Lake South project covering thousands of hectares, future programs are expected to follow up on these results as part of ongoing delineation efforts. The findings contribute to a deeper geological understanding of the Athabasca Basin’s mineral systems, aligning with Paladin’s long-term strategic framework within the uranium sector.