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6 stories mentioning ASX:PTNUpdated 8d ago

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Asia

Patronus Resources Says Exploration at Northern Territory Project Defines New Gold Target

Patronus Resources (ASX:PTN) said exploration at the Pine Creek project in the Northern Territory defined a new 3 kilometers-long gold target, Golden Wall, adjacent to the Cosmo-Howley trend, according to a Wednesday Australian bourse filing.A surface sampling program confirmed and expanded several kilometer-scale gold anomalies at Burnside North and the Cosmo area.High-grade lag sampling at the project returned values of up to 1.94 grams per tonne grade of gold across multiple priority target areas, the company said.A first-pass reverse circulation drilling program comprising 27 holes for around 3,700 meters is underway at Hydra, one of the largest gold anomalies defined within Burnside North, per the filing.The company's shares shed 1% in recent trading on Wednesday.

ASX:PTN
Asia

Patronus Resources Reports Nearly AU$10 Million Decline in Cash Position for June Quarter

Patronus Resources (ASX:PTN) ended the June quarter with AU$65.1 million in cash and liquid assets, including AU$33.1 million in term deposits with a term of less than six months, according to a Thursday filing with the Australian bourse.The company closed the March quarter with AU$75 million in cash and liquid assets, a previous filing showed.During the June quarter, Patronus started an exploration program at its Pine Creek gold project in the Northern Territory, with assay results from the first hole confirming high-grade mineralization at depth.The company's shares gained 2% in recent Thursday trade.

ASX:PTN
Asia

Patronus Resources Confirms High-Grade Intercepts at Northern Territory Deposit

Patronus Resources (ASX:PTN) confirmed high-grade gold intercepts at the Tally Ho deposit, within the Pine Creek project in the Northern Territory, supporting the potential to extend the deposit at depth, according to a Monday filing with the Australian bourse.Assay results from the first hole of a four-hole diamond drilling program returned nine gold intervals, including a "standout" intersection of 2.61 meters at 6.38 grams per tonne grade of gold from 454 meters, the filing said.Assays are pending for the three remaining holes, per the filing.Shares fell 2% in morning trade on Monday.

ASX:PTN
Asia

Patronus Resources Conditionally Agrees to Vote for Emmerson Resources-Pan African Resources Deal

Emmerson Resources (ASX:ERM) said shareholder Patronus Resources (ASX:PTN) has conditionally agreed to vote in favor of Pan African Resources' proposed acquisition of Emmerson, according to a Wednesday filing with the Australian bourse.Patronus, which holds about 7.4% of Emmerson's issued share capital, will vote for the deal if the share exchange ratio is at least 0.1493 Pan African shares for each Emmerson share. The positive vote is also subject to no superior proposal emerging and independent experts finding the deal to be in the best interests of Emmerson shareholders, per the filing.Emmerson Resources shares were down 3% on market close, while Patronus Resources fell nearly 2%.

ASX:ERMASX:PTN
Asia

Golden Mile to Sell Remaining 20% Stake in Western Australia Joint Venture to Patronus Resources for AU$250,000; Golden Mile's Shares Reach Lowest-Ever Point

Golden Mile Resources (ASX:G88) entered into a binding agreement to sell its remaining 20% interest in the Leonora gold joint venture in Western Australia to Navigator Mining, a wholly-owned subsidiary of Patronus Resources (ASX:PTN), for cash consideration of AU$250,000, according to separate Tuesday Australian bourse filings.The joint venture includes the Benalla, Normandy, Monarch, and Ironstone Well project areas.Completion of the deal is expected in the coming week, subject to the satisfaction or waiver of the remaining conditions precedent.Drilling in the area is planned to begin after the completion of a heritage survey with the Nyalpa Pirnuku Native Title Group.Golden Mile's shares fell past 7% in recent trading on Tuesday, reaching their lowest ever point. Meanwhile, Patronus' shares rose 1%.

ASX:G88ASX:PTN
Asia

Patronus Resources Acquires Remaining Stake in Western Australia Project's Guppy Gold Prospect; Shares Up 3%

Patronus Resources (ASX:PTN) purchased the remaining 20% stake in the Guppy-Benalla prospect for AU$250,000 in cash, giving it full ownership of the tenure within the Cardinia Gold Project in Western Australia, according to a Tuesday filing with the Australian bourse.The acquisition follows the completion of a AU$2 million, 80% earn-in over the tenements, and eliminates joint venture restrictions to give the company full control over exploration and any future development pathways, per the filing.Previous drilling at the area returned high-grade intercepts, including 12 meters at 12.4 grams per tonne grade of gold from 20 meters. The company said follow-up air core and reverse circulation drilling is planned, subject to the finalization of heritage surveys.Shares of Patronus Resources gained nearly 3% in recent Tuesday trading.

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