Paladin Energy has identified a fresh high-grade uranium deposit named Atlas at its Patterson Lake South project in Canada, expanding its resource potential with promising drill results.
- Atlas discovery lies 3.5km south of Triple R deposit
- Seven of eight drillholes intersect uranium mineralisation
- Key intercepts include 8m at 1.75% U3O8 and 5.5m at 2.86% U3O8
- Atlas remains open along strike and at depth
- Drilling ongoing with summer campaign planned
New High-Grade Uranium Body Emerges at Patterson Lake South
Paladin Energy Ltd (ASX:PDN) has struck a new vein of high-grade uranium mineralisation at its flagship Patterson Lake South (PLS) project in Saskatchewan, Canada. The newly christened Atlas discovery, located 3.5 kilometres south of the well-known Triple R deposit, was delineated through a targeted 2026 winter drilling program that delivered encouraging assay results across seven of eight drillholes.
Among the standout intercepts, drillhole PLS26-708B; the discovery hole; returned 17.5 metres of composite uranium mineralisation, highlighted by an 8-metre section averaging 1.75% U3O8, including a 3-metre stretch at a notably higher 4.25%. Other significant hits include 14.5 metres at 1.70% U3O8 in PLS26-718 and 11 metres at 1.79% U3O8 in PLS26-722, underscoring the deposit's robust grade and thickness.
Geophysical Survey Guides Discovery in Saloon Trend
The Atlas discovery follows a comprehensive ground geophysical survey conducted between February and June 2025, which pinpointed a compelling anomaly within the broader Saloon Trend; a structural corridor parallel to the Triple R shear zones. This anomaly, situated 4.5 kilometres southwest of the Saloon East uranium concentrations, became the focus of the winter drilling campaign. The mineralisation is hosted within steeply southeast-dipping stacked shear zones, currently defined over roughly 60 metres of strike length and vertical depths between 120 and 260 metres below surface.
Paladin's exploration approach has been systematic, leveraging geophysical data to refine drill targeting along this multi-kilometre trend. The Saloon Trend itself has been a principal focus since 2024 due to anomalous uranium geochemistry and structural disruption extending over approximately 8 kilometres.
Ongoing Drilling and Resource Conversion Efforts
In addition to Atlas, Paladin has continued drilling at the Triple R deposit aiming to convert resources to reserves, a crucial step in underpinning the project's mine life and economic viability. The winter program also included eight drillholes at Saloon East, with assays still pending. The company has now remobilised drill rigs for a summer campaign, targeting further delineation of Atlas and other priority areas along the land-based Saloon Trend, which allows uninterrupted drilling through the season.
CEO Paul Hemburrow emphasised the significance of the Atlas discovery, stating it reinforces the potential of multiple mineral corridors within PLS and validates Paladin’s methodical exploration strategy. The company remains focused on upgrading resource confidence at Triple R while advancing new discoveries like Atlas to expand its resource base.
Technical Rigor and Compliance with Reporting Standards
Paladin’s drilling and assay procedures adhere to stringent industry standards, including NI 43-101 and JORC Code guidelines. Samples were analysed at the Saskatchewan Research Council Geoanalytical Laboratory, an ISO-accredited facility, ensuring high-quality uranium assays. The company reported all intervals as downhole lengths, noting that true widths are yet to be determined due to the early exploration stage. Core recovery was generally good, with no sampling bias detected.
While the Atlas discovery is an exciting development, it remains open for expansion both along strike and at depth, warranting continued drilling and evaluation. The company’s ongoing efforts to convert resources to reserves at Triple R and to define new discoveries like Atlas will be critical in shaping the PLS project’s future trajectory.
Bottom Line?
Atlas adds a fresh dimension to Paladin’s PLS project, but the true scale and economic impact hinge on upcoming drilling and resource updates.
Questions in the middle?
- How extensive is the Atlas mineralisation beyond current drill coverage?
- What impact will Atlas have on the overall resource and reserve estimates at PLS?
- How will ongoing legal challenges to environmental approvals affect project timelines?