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Patriot Resources Limited (ASX:PAT)

ALERT: Price-sensitive ASX Announcement for PAT
Current share price for PAT : $0.066 -0.054 (-45%)+
Announcement
Release
30 Apr 2026 4:40PM
Price at Release
$0.120
Full Release
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Summary
Patriot Resources Limited has provided a quarterly activities report for the period ending 31 March 2026, highlighting significant advancements in their Tassa Silver-Gold Project in Peru. The company completed the acquisition of the Tassa project, securing a high-grade silver-gold asset with potential for substantial resource expansion. A maiden JORC (2012) inferred mineral resource was announced, estimating 18.53Mt at 52.68 g/t AgEq, amounting to 31.4Moz AgEq. The project showcases promising metallurgical results indicating 85% silver recoveries, supporting conventional processing pathways. In addition, a massive JORC (2012) Exploration Target was defined post-quarter, estimating 774-559 million ounces of silver equivalent, underlining the project's district-scale potential. The cash flow report indicates net cash outflows from operating and investing activities, with a positive net cash inflow from financing activities, and a total cash balance of $2.765 million at the end of the period.
Key Points
  • Completion of Tassa Silver-Gold Project acquisition.
  • Maiden JORC (2012) Mineral Resource: 18.53Mt at 52.68 g/t AgEq.
  • Metallurgical results confirm 85% silver recoveries.
  • Defined Exploration Target of 774-559 Moz AgEq.
  • Net cash inflow from financing activities.
  • Cash balance of $2.765 million at quarter-end.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.