Patronus Resources has reported encouraging results from its recent RC drilling campaign at the Iron King and Cardinia Gold Projects, confirming gold mineralisation and highlighting potential for resource expansion.
- 20-hole RC drilling program completed for 1,904 metres
- Gold mineralisation confirmed at both Iron King and Cardinia projects
- Notable intercepts include 6m @ 1.73g/t Au at Scallop and 9m @ 0.98g/t Au at Crystal Ridge
- Scallop target shows over 800m strike length and remains open for further drilling
- Ongoing interpretation and prioritisation for next drilling campaigns
Exploration Progress at Iron King and Cardinia
Patronus Resources (ASX – PTN) has delivered a fresh wave of optimism for its Leonora region gold projects with the completion of a 20-hole Reverse Circulation (RC) drilling program. Spanning 1,904 metres, the campaign targeted the Iron King and Cardinia Gold Projects in Western Australia, aiming to validate and extend mineralisation footprints identified in previous aircore drilling.
The results confirm the presence of gold mineralisation across both prospects, with standout intercepts such as 6 metres at 1.73 grams per tonne (g/t) gold from 22 metres depth at the Scallop target near Cardinia East, and 9 metres at 0.98 g/t gold from 87 metres at the Crystal Ridge prospect within Iron King. These findings reinforce the potential for resource growth in areas adjacent to known deposits.
Scallop – A Growing Gold Trend
The Scallop target, situated immediately west of the Cardinia East Project; which already hosts a 475,000-ounce gold resource; has revealed mineralisation extending over an 800-metre strike length. Importantly, this zone remains open both along strike and at depth, suggesting further upside potential. The mineralisation is hosted within a NNW-SSE trending stratigraphic horizon characterized by mafic and metasedimentary rocks with disseminated sulphides, and structurally controlled quartz veining indicative of hydrothermal fluid pathways.
Patronus’s Managing Director, John Ingram, highlighted the significance of these shallow gold hits, noting their proximity to multiple existing resources and their alignment with a larger mineralised system. This positions Scallop as a compelling target for follow-up drilling and resource definition.
Crystal Ridge – Confirming Continuity and Structural Complexity
At the Crystal Ridge prospect within the Iron King Project, the drilling program focused on testing down-dip extensions of known mineralisation along east-west quartz veins. The best intercept of 9 metres at 0.98 g/t gold was returned from 87 metres depth, confirming the continuity of mineralisation in bedrock beneath a supergene-enriched zone.
Geological interpretations suggest that mineralisation is structurally controlled and largely confined to the upper 100 metres, with grades diminishing at depth. The presence of a dextral fault offsetting mineralised envelopes adds complexity but also potential for undiscovered continuity within structural jogs.
Next Steps and Strategic Outlook
Patronus Resources is currently undertaking detailed interpretation and modelling of the new drilling data to refine target prioritisation. The company plans to integrate these findings into upcoming RC drilling campaigns later in the year, aiming to expand and upgrade the resource base at both Scallop and Crystal Ridge.
With a strong cash position of $81 million as of March 2025 and a market capitalisation of approximately $108 million, Patronus is well-positioned to advance its exploration agenda. The recent merger with PNX Metals has further bolstered its portfolio, adding significant gold, base metals, and uranium assets.
Overall, these drilling results mark an encouraging step forward for Patronus Resources, reinforcing the prospectivity of its Leonora projects and setting the stage for potential resource growth that could enhance shareholder value.
Bottom Line?
Patronus Resources’ latest drilling results set the stage for an exciting phase of exploration and resource growth in the Leonora goldfields.
Questions in the middle?
- How will upcoming drilling campaigns refine the resource estimates at Scallop and Crystal Ridge?
- What is the potential scale of the mineralised system connecting Scallop to existing Cardinia resources?
- Could structural complexities at Crystal Ridge unlock additional high-grade zones?