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Paterson Resources Ltd (ASX:PSL)

ALERT: Price-sensitive ASX Announcement for PSL
Current share price for PSL : $0.034 -0.007 (-17.07%)+
Announcement
Release
9 Feb 2026 11:10AM
Price at Release
$0.041
Full Release
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Summary
Paterson Resources Ltd announced the initial assay results from Phase I of their drilling campaign at the Grace Gold-Copper Project in the Paterson Province. The results confirmed wide zones of shallow gold mineralisation within a 1.3 km strike length. Significant intercepts were reported, including 20m at 2.25 g/t Au from 68m with higher grades within these zones. This is part of an extensive 8,500m reverse circulation drilling campaign, with more results pending for the remaining drill holes. Phase II is planned to commence soon, aimed at further evaluating the potential of the region, with the possibility of upgrading the current Inferred Mineral Resource Estimate. The company is optimistic about the potential for a significant underlying gold system and intends to conduct a Scoping Study to explore the optimal path to production.
Key Points
  • Initial assays confirm wide zones of shallow gold mineralisation.
  • Phase I results include significant gold intercepts, such as 20m at 2.25g/t Au.
  • Phase II will involve more drilling to expand on these findings.
  • Current Inferred Mineral Resource Estimate is 1.59mt at 1.35g/t Au.
  • Pending results from additional drill holes expected soon.
  • The project is located in a highly prospective mineral-rich province.
  • Paterson Resources aims to optimize production pathways and shareholder value.
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.