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Paterson Resources Ltd (ASX:PSL)

ALERT: Price-sensitive ASX Announcement for PSL
Current share price for PSL : $0.037 -0.007 (-15.91%)+
Announcement
Release
26 Mar 2026 9:47AM
Price at Release
$0.044
Full Release
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Summary
Paterson Resources Ltd has announced positive results from its Phase I drilling campaign at the Grace Gold-Copper Project in the Paterson Province. The Phase I assays have shown significant shallow intercepts indicating a substantial gold system. Notable results include 8m at 5.62g/t from 97m and 23m at 2.3g/t from 72m. With 17 out of 18 assays received, the company plans to recalibrate the Mineral Resource Estimate (MRE) and prepare for Phase II, which will include 32 RC drill holes. The continuation of these efforts aims to further upgrade the resource and develop a viable path to market.
Key Points
  • 17 out of 18 assays from Phase I received.
  • Phase I results highlight a substantial gold system.
  • Shallow intercepts include 8m at 5.62g/t and 23m at 2.3g/t.
  • Recalibration of the Inferred Mineral Resource Estimate planned.
  • Phase II will consist of 32 reverse circulation drill holes for approximately 6,000m.
  • Preparation for Phase II underway as site access conditions improve.
  • Potential for significant value generation for shareholders.
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.