Paterson Resources (ASX:PSL) has identified ‘high-grade’ gold intercepts from phase one drilling at its Grace Gold-Copper Project in Western Australia’s Paterson Province.
Executive Director Matt Bull says the results demonstrate the gold system is ‘high-grade’, shallow, and remains open at depth.
“We couldn’t have asked for a better outcome from the second batch of assay results from the Grace Gold-Copper Project,” Bull says.
Key intercepts from the latest six holes include 19m @ 3.53g/t gold from 40m, 7m @ 1.09g/t gold from 27m, 6m @ 3.04g/t gold from 102m, and 15m @ 2.93g/t gold from 13m, including 5m @ 7.16g/t gold from 15m.
The company says all holes drilled to date have intersected strong mineralisation along a 1.3km strike length.
Assay results for the remaining seven drill-holes are pending and will be released once received from the laboratory.
Paterson plans to begin phase two drilling for a minimum of 32 holes across 6,000m once ground conditions allow.
The company’s current inferred mineral resource estimate stands at 1.59 million tonnes at 1.35g/t gold for 69,000 ounces.
Paterson Resources is a junior mineral explorer focused on developing gold and copper projects.
Edited by Amy Rotman.
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Images: Paterson Resources
