Uncertain Continuity: New Gold Trend at Cardinia East Demands Further Drilling

Exploration Breakthrough at Cardinia East

Patronus Resources (ASX: PTN) has delivered a promising update from its Cardinia Gold Project near Leonora, Western Australia, with the completion of a 6,679-metre air-core drilling campaign that has delineated a new 1-kilometre gold mineralisation trend at the Scallop Prospect. This discovery sits strategically adjacent to established resources, reinforcing the project’s status as a high-potential asset within the company’s exploration portfolio.

The reconnaissance drilling program, comprising 153 holes across six key prospects, returned multiple significant gold intercepts, including standout results such as 8 metres at 1.20 g/t Au from 32 metres and 4 metres at 1.69 g/t Au from 44 metres. These results not only confirm the presence of gold mineralisation but also highlight the potential continuity of mineralised corridors within the Cardinia East area.

Geological Context and Structural Insights

The Scallop Prospect’s newly defined gold trend is situated within a highly prospective structural setting, adjacent to an interpreted D1 shear zone and near historic workings. Geological logging identified a distinctive pink porphyritic unit, a hallmark of high-grade gold shoots in the broader Cardinia-Mertondale corridor. While the precise relationship between mineralisation at Scallop and nearby deposits such as Helens, Chieftess, and Comedy King remains to be fully understood, the current data suggest a compelling structural control on gold distribution that warrants further investigation.

In addition, geochemical signatures indicate that mineralisation may extend northward beyond the current drilling coverage, across the Cardinia Creek, suggesting additional upside potential in unexplored areas.

Next Steps: Targeted Reverse Circulation Drilling

Building on these encouraging air-core results, Patronus Resources plans to commence a targeted reverse circulation (RC) drilling campaign in the second quarter of 2025. This follow-up program aims to better define the extent and continuity of mineralisation at Scallop and to unravel the structural controls influencing gold distribution. The RC drilling will provide higher-resolution data critical for advancing the project toward resource estimation and potential development.

Managing Director John Ingram expressed optimism about the findings, emphasizing the strategic importance of the new gold trend and the company’s commitment to unlocking further value for shareholders through systematic exploration.

Strategic Positioning and Broader Portfolio

The Cardinia Gold Project forms a cornerstone of Patronus Resources’ Western Australian portfolio, which collectively boasts a mineral resource exceeding 1.2 million ounces of gold. The company’s exploration strategy integrates geophysical surveys, geological mapping, and multi-method drilling campaigns to build a comprehensive understanding of its assets. Alongside Cardinia, Patronus holds significant interests in the Northern Territory, including base metals and uranium projects, positioning it well for diversified growth.

With a robust balance sheet featuring $79 million in cash and liquid investments as of December 2024, Patronus is well-capitalised to advance its exploration and development programs during this period of transformational growth.