Patronus Secures Full Control of Guppy Gold Prospect Near Cardinia

Full Ownership Unlocks Exploration Flexibility

Patronus Resources (ASX:PTN) has taken a decisive step in its Western Australian gold strategy by acquiring the remaining 20% stake in the Guppy-Benalla area for $250,000 cash, securing full ownership of this tenure near its Cardinia Gold Project. This move eliminates joint venture restrictions, granting Patronus unfettered control over exploration and future development options in a mineralised corridor that has already demonstrated promising gold grades.

Located approximately 6 kilometres south of Patronus’ 475,000-ounce Cardinia East resource, Guppy sits within a well-established gold corridor that extends through the North-Eastern Goldfields. The consolidation allows the company to pursue a systematic assessment of the corridor’s potential scale and contribution to its broader Cardinia development plans.

Encouraging Early-Stage Exploration Results

Previous drilling at Guppy has yielded high-grade intercepts such as 12 metres at 12.41 grams per tonne gold from 20 metres depth, alongside other notable hits including 13 metres at 2.12g/t and 4 metres at 6.49g/t. Recent surface sampling and geological mapping have further refined the target zone, identifying a coherent structural corridor extending roughly 2.5 kilometres along strike.

Rock chip sampling across the Guppy-Benalla area returned several samples exceeding 1g/t Au, with a peak assay of 3.27g/t. These results suggest the presence of parallel mineralised structures that warrant detailed follow-up.

Patronus’ Managing Director John Ingram emphasised the strategic value of the acquisition: “For a modest cost, we’ve removed joint venture constraints and now have full control over the Guppy–Benalla area and its potential upside. The project sits in a proven mineralised corridor close to existing resources, and early results are encouraging. The next step is straightforward – systematic drilling to determine whether this can translate into something meaningful.”

Planned Drilling Hinges on Heritage Surveys

Patronus plans to launch follow-up aircore and reverse circulation (RC) drilling campaigns designed to test the strike continuity of gold mineralisation, define the geometry and plunge of mineralised shoots, and evaluate the parallel structures highlighted by surface geochemistry. These programs await completion of heritage surveys with the Nyalpa Pirnuku Native Title Group, reflecting the company’s commitment to responsible exploration practices.

This development follows Patronus’ recent significant gold intercepts at Guppy and Mertondale projects, which showcased the company’s growing footprint in Western Australia’s goldfields and underscored its robust cash position of $75 million as of December 2025.

Broader Resource Base and Project Pipeline

Patronus’ Cardinia Gold Project boasts a 1 million-ounce gold Mineral Resource, with Guppy potentially adding to this base if exploration success continues. The company also holds significant base metals and uranium projects in the Northern Territory, positioning it as a diversified explorer with a strong balance sheet and a track record of asset monetisation.

While the Guppy results are early stage and true widths of mineralisation remain unconfirmed, the consolidation and planned drilling mark a pivotal moment in Patronus’ growth trajectory. Investors will be watching closely as the company tests the scale and continuity of mineralisation in this strategically located gold corridor.