- Paterson Resources (PSL) begins drilling at its Grace copper-gold project in the Paterson Province of Western Australia
- The aim of this drilling is to prove up existing deposits discovered by previous drilling and to test for extensions along strike and at depth
- The company says drilling is progressing well, with five holes drilled and 295 samples from the first two holes en route to the laboratory for analysis
- Paterson will continue drilling, with holes planned to test the Grace-Bemm shear, which is known to host gold mineralisation, as well as the Lakes prospect to the southwest
- Shares in Paterson are up 5 per cent and trading at 4.2 cents at 1:56 pm AEST
Paterson Resources (PSL) has begun drilling at its Grace copper-gold project in the Paterson Province, Western Australia.
The aim of this drilling is to prove up existing deposits discovered by previous drilling and to test for extensions along strike and depth.
Additionally, Paterson will explore for new deposits using recent ground geophysics data.
The company said drilling was progressing well, with five holes drilled for 842 metres and 295 samples from the first two holes en route to a laboratory for analysis.
Paterson will continue drilling, with holes planned to test the Grace-Bemm shear, which is known to host gold mineralisation, as well as the Lakes prospect to the southwest.
“We are excited to have commenced the phase two drilling program at the Grace project,” Executive Director Matt Bull said.
“Historic results at the Grace project show the potential for a significant mineralised system with numerous high-grade near-surface gold intercepts returned. The company looks forward to receiving the results on the drilling.”
Shares in Paterson were up 5 per cent and trading at 4.2 cents at 1:56 pm AEST.