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Highlights
Patronus Resources (ASX:PTN) has confirmed high-grade gold mineralisation at depth in its Koi Exploration Target.
Recent diamond drilling results extend a high-grade gold shoot northward, showing mineralisation continuity.
Upcoming drilling aims to further refine resource boundaries and expand upon the current findings.
Patronus Resources Ltd, listed under (ASX:PTN), is an Australian mining company focused on gold exploration. The company is primarily involved in its Cardinia Gold Project, located in the Leonora region of Western Australia. As part of its strategic exploration efforts, Patronus Resources has announced significant developments at its Koi Exploration Target within the broader Mertondale Gold Project. This update follows the recent completion of diamond drilling and the confirmation of down-plunge gold continuity.
Key Drilling Results at Koi
Recent diamond drilling at the Koi Exploration Target, a component of Patronus's wholly owned Cardinia Gold Project, has provided important insights into the continuity of gold mineralisation at depth. Four diamond drill holes, totaling over 1,200 meters, were completed with results confirming the continuation of high-grade gold mineralisation. Notably, one of the holes intersected substantial mineralisation, supporting the model of a north-plunging gold shoot that is open for further expansion along strike and down-plunge.
This drilling success follows up on previous standout results in the region and highlights the ongoing potential of the Mertondale East Shear Zone as a key contributor to the growth of Patronus's resource base.
Geological Structure and Mineralisation at Koi
The recent drilling at Koi focused on testing the continuity of mineralisation along a shallow, north-plunging trend that was initially identified in 2024 ASX 200. The drill results confirmed the presence of gold mineralisation within silicified and brecciated basalt, where visible gold and sulphide minerals such as pyrite were logged. This indicates a strong geological structure that is conducive to the continued presence of gold at depth.
The Koi target remains open along strike and down-dip, providing a promising opportunity for further exploration. The latest findings support the broader structural model that identifies the Mertondale East Shear Zone as a key location for gold accumulation, demonstrating the robustness of the geological controls.
Exploration Target and Future Drilling Plans
Patronus Resources has outlined an Exploration Target at Koi, with a defined potential mineralisation envelope situated north of the Mertondale 3-4 pit. The Exploration Target is positioned outside the existing resource boundaries and indicates a separate, high-grade gold trend within the shear corridor.
The company's ongoing exploration efforts focus on refining the geometry and grade continuity of the mineralisation, with future drilling planned for the September quarter of 2025. This drilling will continue to test the depth and lateral extensions of the gold shoot to facilitate the advancement of the Exploration Target toward resource classification.
Additionally, reverse circulation (RC) drilling has been completed at the Merlin prospect, situated directly north of the Koi target. Pending assay results from Merlin are expected to provide further insights into the continuity of mineralisation in the northern region of the Mertondale Gold Project.
Broader Exploration Plans and Regional Developments
With a strengthened balance sheet and an expanded resource base, Patronus Resources continues to actively pursue its exploration agenda in the Leonora region and beyond. The company is advancing its broader exploration portfolio in Western Australia and the Northern Territory, with an emphasis on further developing its gold projects and understanding the full extent of the gold mineralisation at Koi and surrounding areas.
Patronus Resources remains focused on delivering meaningful updates and continuing its progress in building a robust resource inventory in the coming quarters.
