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.