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Patriot Resources Limited (ASX:PAT)

ALERT: Price-sensitive ASX Announcement for PAT
Current share price for PAT : $0.050 -0.012 (-19.35%)+
Announcement
Release
29 Jul 2026 8:41AM
Price at Release
$0.062
Full Release
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Summary
Patriot Resources Limited has announced the acquisition of a 90% interest in a strategic licence within the Zambian Copperbelt, a premier copper-producing region. The acquired Licence 33543-HQ-LEL covers approximately 16.15 km² and is situated about 12 km north of Mkushi. This acquisition positions Patriot within a favorable geological setting for copper mineralisation, akin to other large-scale copper deposits in the region. The Lusale Basin, part of this licence, is a Neoproterozoic sedimentary sub-basin, which is an extension of the DRC/Zambian Central African Copperbelt. Patriot is focusing on drilling and exploration to define targets for copper mineralisation. The acquisition complements Patriot's recent copper discovery at Tonic in Mumbwa and supports its strategy to build a diversified project pipeline across copper and silver sectors.
Key Points
  • Acquisition of 90% interest in a Zambian Copperbelt licence.
  • Licence 33543-HQ-LEL covers 16.15 km² north of Mkushi.
  • Strategic positioning within Lusale Basin, an extension of the Central African Copperbelt.
  • Geological positioning similar to Kamoa and Lonshi deposits.
  • Focus on defining drill-ready targets within the licence area.
  • Acquisition complements Patriot's copper discovery at Tonic in Mumbwa.
  • Plan for a Phase 1 drill program targeting Q3 2026.
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.