Patronus Resources Unveils Promising Gold Intercepts at Guppy Prospect

Exploration Success at Guppy

Patronus Resources (ASX – PTN) has reported encouraging results from its recent Reverse Circulation (RC) drilling program at the Guppy prospect, part of the Cardinia Gold Project in Western Australia. The drilling confirmed multiple significant gold intercepts, including a standout 13 metres at 2.12 grams per tonne (g/t) gold from 105 metres depth. These results build on earlier air-core drilling successes and reinforce Guppy as a promising early-stage discovery.

Strategic Location and Geological Context

Guppy lies just 5 kilometres south of the established Cardinia East Resource, which holds 475,000 ounces of gold, within a broader 1 million ounce project area. The prospect is situated within a structurally favourable corridor associated with the Benalla Anticline, a key regional control on mineralisation in the Leonora district. Mineralisation at Guppy is hosted in a north-northeast striking shear zone dipping approximately 50 degrees northwest, with alteration halos indicating a robust hydrothermal system.

Drilling Highlights and Potential

The recent RC campaign comprised eight holes totaling 1,052 metres, drilled in a scissor pattern to test two air-core anomaly lines spaced about 800 metres apart. Significant intercepts include 5 metres at 1.80 g/t gold and 1 metre at 3.64 g/t gold, among others. Notably, the southern zone of Guppy returned the most consistent high-grade results, while the northern zone remains open and underexplored due to limited drilling and potentially suboptimal drill orientation.

Joint Venture Progress and Next Steps

Guppy forms part of a joint venture with Golden Mile Resources (ASX – G88), where Patronus is approaching the Stage 2 earn-in milestone to secure an 80% interest. The company plans further drilling in the first quarter of 2026 to test strike continuity and depth extensions, aiming to better define the scale and grade distribution of the mineralisation. This follow-up work is critical to advancing Guppy from an early-stage discovery to a potentially significant resource within Patronus’s Western Australian portfolio.

Broader Portfolio Strength

Patronus Resources holds a diversified portfolio with a combined gold Mineral Resource exceeding 1.2 million ounces, including assets in Western Australia and the Northern Territory. The Cardinia Gold Project remains a core focus, with Guppy’s emerging potential adding to the project’s growth prospects. The company’s strong cash position of $79 million as of June 2025 underpins its capacity to advance exploration and development activities.