Patronus Resources Prepares for Gold Resource Upgrade at Mertondale

2 min read | October 08, 2024 12:25 PM AEDT | By Team Kalkine Media

Google News:

Patronus Resources Prepares for Gold Resource Upgrade at Mertondale — Image source: shutterstock

Recent News

Santos (ASX:STO) After the Takeover Collapse: Bargain or Value Trap?

Why Pro Medicus (ASX:PME) Is Leading the Growth Stock Conversation

Is 360 (ASX:360) Amid ASX 200 Revealing Growth’s New Reality?

Why 360 (ASX:360) ASX 200 Is Facing a New Growth Test

Make Kalkine Media
My Trusted Source

Highlights

Patronus Resources advances towards a resource upgrade at Mertondale Gold Project.

Recent drilling reveals high-grade gold intersections and broad mineralized zones.

Mineral Resource Estimate (MRE) update expected by late Q4.

Patronus Resources Ltd (ASX:PTN) is making significant progress toward an updated resource estimate at its Mertondale Gold Project in Western Australia. Recent reverse circulation (RC) drilling has yielded promising results, including a high-grade intersection of 3 meters at 11.75 grams per tonne (g/t) of gold. These findings indicate strong potential for further growth at the project.

The drilling program also uncovered broader mineralized zones, such as 36 meters at 1.49 g/t gold from 113 meters and 25 meters at 1.77 g/t from 78 meters, with some intersections located outside the current resource boundary. These results will play a crucial role in shaping the new Mineral Resource Estimate (MRE), which Patronus plans to complete by the end of the fourth quarter.

Patronus CEO John Ingram highlighted the significance of the latest drilling outcomes, noting that the results have exceeded expectations. The discovery of thick gold zones, particularly outside the existing 457,000-ounce resource, underscores the project’s potential. Ingram emphasized the shallow depth and impressive grades of the mineralization, reaffirming Mertondale's value as a key asset for the company.

As Patronus works towards updating the MRE, it is also focusing on advancing a scoping study for the project. The company is optimistic about continuing to unlock the full potential of Mertondale and is committed to delivering positive developments in the coming months.

Patronus Resources’ latest drilling results highlight the growth opportunities at the Mertondale Gold Project, positioning the company for an upgraded resource estimate and further project advancements in the near future.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.