- First Tally Ho assays confirm high-grade gold mineralisation
- Supports extensional potential at depth
- Drilling marks the start of Patronus’ 2026 exploration program
- Around 30,000m of diamond and RC drilling and further 3,000 surface samples planned
Patronus Resources (ASX:PTN) has obtained promising assay results from the first hole of a four-hole diamond drilling program at the Tally Ho deposit, part of the Pine Creek project in the Northern Territory.
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The results have confirmed high-grade gold intercepts that support the potential to extend the deposit at depth.
Results from hole TH26DD001 returned nine significant gold intervals across the 461.32m hole, including a standout intersection of 2.61m at 6.38 grams per tonne (g/t) gold from 454m depth.
The three remaining holes have been drilled and logged, with assays pending.
“These first results from Tally Ho are very encouraging, intersecting high-grade gold well below the known deposit and providing strong support for our theory that a zone of previously unrecognised gold mineralisation sits below the existing Tally Ho resource,” MD, John Ingram, said.
“The multiple gold-bearing intervals intersected throughout TH26DD001 indicate that the system remains open at depth and reinforces the potential identified through our geological modelling. We now look forward to receiving the assays from the remaining three holes, which will refine our understanding of the mineralisation and guide further follow-up,” he said.
“Following a longer-than-usual wet season in the Northern Territory, it is pleasing to now have our 2026 field program underway. With drilling planned across our broader Pine Creek targets, we expect a steady flow of exploration results over the coming field season.”
The primary objective of the four-hole program was to test for a previously unrecognised mineralised zone in the footwall to the Tally Ho lodes.
Patronus’ 3D modelling of historical gold intercepts suggests the potential for a new mineralised zone outside of the existing resource, referred to as the “Tally Ho Extension.”
The program also tested an alternative north-east to south-east mineralisation trend based on 3D observations, core photo interpretations and a field mapping study.
Patronus has commenced its 2026 NT dry season field program following a longer-than-usual wet season.
Diamond drilling is focused on advancing brownfields targets with resource growth potential, and RC drilling is targeting the high-priority geochemical anomalies identified during the 2025 surface sampling programme across the company’s Pine Creek tenure.
Drilling is targeting a combination of historical gold workings that have seen little or no exploration in more than 40 years, together with greenfields targets generated from the 2025 field program.
PTN is steady at 4.9¢. Mkt cap $15.0M.
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