Paterson Resources (ASX:PSL) has completed Phase 1 of its 8,500-meter reverse circulation drilling campaign at the Grace Gold-Copper Project in the Paterson Province.
The initial phase comprised 18 drill holes totaling approximately 2,600m, all of which have been sent to SGS Australia in Perth for assay analysis.
The program focused on testing extensions of known mineralisation along strike and at depth, infill resource drilling, and potential extensions to a high-grade gold lode running parallel to the existing JORC-compliant inferred mineral resource estimate of 1.59 million tonnes at 1.35 g/t Au for 69,000 ounces.
Paterson aims to deliver a JORC-compliant indicated mineral resource estimate during the first half of 2026 to support an upcoming scoping study and plans to resume drilling in the first quarter of 2026 following the holiday break.
Executive Managing Director Matt Bull said the board is pleased with the completion of Phase 1 and looks forward to reporting assay results in the New Year, highlighting the project’s significant potential to create shareholder value.