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Patronus Resources Limited (ASX:PTN)

ALERT: Price-sensitive ASX Announcement for PTN
Current share price for PTN : $0.047 0.004 (9.30%)+
Announcement
Release
27 Jul 2026 8:23AM
Price at Release
$0.043
Full Release
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Summary
Patronus Resources Limited has outlined plans to further explore the Tally Ho site, involving extensive drilling activities to uncover potential mineral resources. The company aims to complete a total of 30,000 meters of drilling, split between diamond and reverse circulation methods, focusing on both brownfields and high-priority anomalies. Recent diamond drilling results confirm significant depth potential for gold mineralisation, prompting plans for additional exploration to enhance the understanding and development of the site. These efforts, integrating geological and structural data, will also explore new structural targets identified during recent assays.
Key Points
  • Patronus Resources Limited plans to complete around 30,000 meters of drilling at the Tally Ho site.
  • The drilling includes 6,000 meters of diamond drilling and 24,000 meters of reverse circulation (RC) drilling.
  • The diamond drilling focuses on brownfields opportunities with potential for resource growth.
  • The RC drilling targets high-priority geochemical anomalies identified through recent surface sampling.
  • Strong drill results at Tally Ho confirm the depth potential with high-grade gold mineralisation extending at depth.
  • Additional structural targets for follow-up drilling have been identified.
  • Geological interpretation and detailed structural modelling are ongoing to refine exploration models.
  • Future plans include testing new linking structures between Fountain Head and Tally Ho with follow-up RC drilling.
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.