Paterson Resources has wrapped up the first phase of its drilling campaign at the Grace Gold-Copper Project, setting the stage for a resource upgrade and scoping study in 2026.
- Phase I drilling completed, 18 holes, ~2,600m of an 8,500m campaign
- Focus on extending and infilling known mineralisation, plus high-grade lode extensions
- Pending assay results to inform JORC Indicated Mineral Resource Estimate in 1H 2026
- Grace Project located in prolific Paterson Province near major gold-copper deposits
- Drilling to resume in early 2026 following contractor holiday break
Phase I Completion Marks Key Milestone
Paterson Resources Limited (ASX, PSL) has successfully completed the initial phase of its comprehensive reverse circulation drilling campaign at the Grace Gold-Copper Project in Western Australia. The first phase comprised 18 drill holes totaling approximately 2,600 metres, part of a broader 8,500-metre program designed to test and expand the known mineralisation footprint.
Samples from this phase have been dispatched to SGS Australia in Perth for assay analysis, with results eagerly awaited by the market. These assays will be critical in validating the potential extensions to the high-grade gold lode discovered in previous drilling campaigns, which runs parallel to the existing JORC-compliant Inferred Mineral Resource Estimate (MRE) of 1.59 million tonnes at 1.35 grams per tonne gold, containing roughly 69,000 ounces.
Strategic Focus on Resource Upgrade
The campaign’s objectives are threefold, to explore extensional mineralisation both along strike and at depth, to conduct infill drilling to improve resource confidence, and to test potential extensions of the high-grade lode. Paterson aims to upgrade the current Inferred MRE to an Indicated status during the first half of 2026, a crucial step that will underpin an upcoming Scoping Study assessing the project’s economic viability.
Executive Managing Director Matt Bull expressed optimism about the campaign’s progress, highlighting the geology team’s efforts to reinforce the resource base. The company views the Grace Project as strategically positioned within the Paterson Province, a region renowned for its mineral richness and home to major players like Rio Tinto, Antipa Minerals, and Greatland Gold.
Regional Context and Future Prospects
The Grace Gold-Copper Project benefits from proximity to significant discoveries, including the Havieron deposit and the world-class Telfer gold-copper mine located just 25 kilometres northwest. Previous drilling campaigns have revealed thick, high-grade gold shoots with impressive intercepts, underscoring the project’s potential for a shallow, oxide processing operation.
Looking ahead, Paterson plans to resume drilling activities in the first quarter of 2026 after the holiday break, continuing to build on the momentum generated by Phase I. The company’s methodical approach to exploration and resource definition aims to unlock value for shareholders and position the Grace Project as a compelling asset in the competitive gold-copper sector.
Bottom Line?
As assay results and resource upgrades loom, Paterson’s Grace Project stands at a pivotal juncture with significant value creation potential.
Questions in the middle?
- What will the assay results reveal about the extent and grade of mineralisation?
- How will the anticipated JORC Indicated resource impact the project’s economics and development timeline?
- What are the company’s plans for financing and advancing the Scoping Study post-resource upgrade?