AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Gold resource at Mertondale boosted to 955,000 ounces
- Scoping Study on track for June 2025 release
- Strong base metal hits and uranium progress add exploration upside
Patronus Resources (ASX:PTN) has significantly expanded its gold footprint in Western Australia, reporting a major 480,000-ounce increase to its mineral resource at the Mertondale Project. This uplift raises the consolidated Central Gawler Gold Province (CGP) resource estimate to an impressive 955,000 ounces, reflecting a growing confidence in the project's long-term development potential.
The resource update follows a successful drilling campaign at the Mertondale 3–4 and 5 deposits, now estimated at 10.4 million tonnes grading 1.4 g/t gold. The improved grade and a higher proportion of ounces in the Indicated category lay a strong foundation for the ongoing Scoping Study, which remains on schedule for delivery in the June 2025 quarter.
Encouragingly, diamond drilling at the Mertondale 4–5 area led to the definition of a new Exploration Target at the Koi Prospect, estimated between 150,000 and 800,000 ounces of contained gold. These results point to strong mineralisation extending beneath existing resources, making Koi a priority for follow-up drilling throughout the year.
Beyond gold, exploration at the Cardinia Project delivered promising base metal results. A 30-line kilometre ground IP survey identified chargeability anomalies associated with volcanogenic massive sulphide-style mineralisation. Reverse circulation drilling returned significant zinc and copper intercepts, including 8 metres at 2,013 ppm zinc and 366 ppm copper from the Pegasus prospect, and 4 metres at 2,643 ppm zinc and 92 ppm copper from Eagle.
In the Northern Territory, Patronus advanced several exploration fronts. A comprehensive re-logging of diamond core from the Thunderball Uranium Project has refined geological understanding and will guide the upcoming drill campaign. At the same time, geophysical data reprocessing and a structural study are underway to support a regional geochemical survey set to begin in the June quarter of 2025.
Patronus remains in a strong financial position, closing the March quarter with A$81 million in cash and liquid assets. The company also holds an equity position in Emmerson Resources (ASX:ERM), adding further strategic value.
As multiple exploration campaigns progress across gold, base metals, and uranium assets, Patronus is strategically positioning itself to unlock further value across its WA and NT tenements.
