Patriot Resources Confirms 40m High-Grade Copper Strike at Kitumba
Patriot Resources has validated high-grade copper mineralisation at its Kitumba project in Zambia and discontinued its Sugarloaf option, refocusing capital on core assets while planning 2026 drilling backed by ongoing capital raise talks.
- High-grade copper mineralisation confirmed over 40m strike at Kitumba 27715, Zambia
- 600m trenching and induced polarisation geophysics approved to accelerate drill targeting
- Sugarloaf copper licence option terminated after technical and commercial review
- Continued strategic lithium exposure via Gorman Lithium Project in Canada
- Quarterly cash outflows of A$680k; cash balance of A$922k with capital raising underway
Exploration Success at Kitumba
Patriot Resources Limited has delivered encouraging exploration results from its Kitumba 27715 Project in Zambia, confirming consistent high-grade copper mineralisation across a 40-metre strike at Target B1. This finding reinforces Patriot’s foothold within the prolific Kitumba Iron Oxide Copper Gold (IOCG) corridor, a region known for significant copper deposits.
Fieldwork during the quarter included detailed geological mapping, trenching, and surface sampling, with trench OTR02 returning an average of 0.19% copper over 7 metres and artisanal pit samples peaking at 0.80% copper. These results not only validate the presence of copper but also highlight the potential for lateral and strike extensions, keeping the target open in all directions.
Advancing Towards Drilling
To build on this momentum, Patriot has approved a 600-metre trenching program alongside a 30-hectare induced polarisation (IP) geophysical survey. These activities aim to refine drill targets rapidly, setting the stage for a potential drilling campaign that could unlock further resource definition.
Strategic Portfolio Refinement
In a disciplined move, Patriot has discontinued its option to acquire the Sugarloaf Copper Licence after independent metallurgical testing failed to replicate historic recovery rates. Despite Sugarloaf’s proximity to Sinomine’s Kitumba processing facility, the company chose to conserve capital and focus on assets with proven mineralisation and scalable exploration upside.
This decision underscores Patriot’s commitment to a focused strategy, concentrating resources on its district-scale Zambian copper holdings, which benefit from established infrastructure and regional processing capabilities.
Maintaining Lithium Exposure
Beyond copper, Patriot retains its strategic exposure to lithium through the Gorman Lithium Project in Ontario, Canada. The company continues engagement with First Nations stakeholders to ensure alignment with broader critical minerals objectives, reflecting a balanced approach to its resource portfolio.
Financial Position and Outlook
Financially, Patriot reported operating cash outflows of A$680,000 for the quarter, ending with a cash balance of A$922,000. The company has no mining production activities currently and plans to undertake exploration and drilling programs in 2026, contingent on successful capital raising efforts. Discussions with key shareholders and brokers are underway to secure the necessary funding to advance these initiatives.
Executive Chairman Hugh Warner emphasized the company’s focus on assets delivering meaningful technical progress and the ongoing review of potential portfolio additions, signaling a measured yet opportunistic growth approach.
Bottom Line?
Patriot’s disciplined focus on Kitumba’s copper potential and strategic capital allocation sets the stage for a pivotal 2026 exploration phase, contingent on successful funding.
Questions in the middle?
- What will the upcoming drilling at Kitumba reveal about the scale and grade of the copper deposit?
- How will the termination of the Sugarloaf option impact Patriot’s long-term growth strategy?
- What are the prospects and timelines for advancing the Gorman Lithium Project amid ongoing stakeholder engagement?
