Paterson Resources has launched an extensive 8,500m drilling campaign at its Grace Gold Project, aiming to extend mineralisation and upgrade its gold resource classification by mid-2026.
- 8,500m Reverse Circulation drilling campaign underway
- Focus on extending known gold mineralisation along strike and at depth
- Targeting upgrade from Inferred to Indicated Mineral Resource Estimate
- Previous drilling revealed thick, high-grade gold zones
- Located in a prolific gold-copper region near major deposits
A New Chapter for Grace Gold
Paterson Resources Limited has commenced its most ambitious drilling program to date at the Grace Gold Project, situated in the highly prospective Paterson Province of Western Australia. The company has initiated an 8,500-metre Reverse Circulation (RC) drilling campaign designed to both extend the known gold mineralisation and upgrade the current resource classification.
The Grace Gold Project currently holds a JORC-compliant Inferred Mineral Resource Estimate of 1.59 million tonnes at 1.35 grams per tonne gold, equating to approximately 69,000 ounces. Paterson’s goal is to infill drill this resource to potentially elevate it to the Indicated category during the first half of 2026, a critical step toward advancing the project’s development.
Building on Strong Foundations
Previous drilling campaigns conducted between 2022 and 2023 uncovered a thick, high-grade gold shoot with impressive intercepts, including intervals such as 15 metres at 4.03 grams per tonne and 31 metres at 3.13 grams per tonne gold. These results have set a promising foundation for the current campaign, which aims to extend these mineralised zones both along strike and at depth.
Executive Managing Director Matt Bull expressed optimism about the campaign’s potential, highlighting the opportunity to unlock significant shareholder value by upgrading the resource and feeding into ongoing scoping studies. The focus on shallow, high-grade zones could accelerate the project’s path toward economic viability.
Strategic Location Amidst Industry Giants
The Grace Gold Project benefits from its location in the Paterson Province, a region renowned for world-class mineral deposits. Nearby, Greatland Gold is advancing the Havieron gold-copper resource, which boasts an 8.5 million ounce gold equivalent, while the Telfer gold-copper mine, one of Australia’s largest, lies just 25 kilometres to the northwest. This neighbourhood of major discoveries underscores the geological potential and strategic importance of Paterson’s project.
As the drilling progresses, investors and analysts will be watching closely for assay results that could confirm the extent and grade of mineralisation, as well as any upgrades to the resource classification that would enhance the project’s valuation and development prospects.
Bottom Line?
Paterson’s drilling campaign at Grace Gold could redefine the project’s scale and value, setting the stage for a pivotal resource upgrade in 2026.
Questions in the middle?
- When will assay results from the current drilling campaign be released?
- How might an upgrade to Indicated status impact Paterson’s project financing and development timeline?
- Could further drilling reveal additional high-grade zones beyond the current resource footprint?