Patronus Resources Confirms High-Grade Gold Extends at Depth at Tally Ho, Pine Creek Project

High-Grade Gold Confirmed Below Historical Pit

Patronus Resources (ASX:PTN) has delivered compelling evidence that the gold system at its Tally Ho deposit, part of the Pine Creek Project in the Northern Territory, remains open at depth. Final assays from the company’s recent four-hole diamond drilling program reveal multiple high-grade gold intersections well below the historical open pit and outside the current Mineral Resource boundary.

Among the standout intercepts is 3.17 metres at 3.32 grams per tonne (g/t) gold from 324.83 metres in hole TH26DD003, complementing previously reported results such as 2.61 metres at 6.38 g/t from 454 metres in TH26DD001. These deep intersections reinforce the continuity of mineralisation and hint at a significant vertical extension to the existing resource base.

New Structural Targets and Linking Mineralisation

Beyond confirming depth extensions, the drilling program has unveiled new structural targets that were previously unrecognised. Patronus’ geological modelling suggests these could represent a fresh mineralised zone dubbed the “Tally Ho Extension.”

Moreover, the results confirm the presence of mineralised structures linking the Fountain Head and Tally Ho deposits, dipping obliquely to the southwest. These connecting veins offer tantalising prospects for follow-up Reverse Circulation (RC) drilling later in 2026, potentially expanding the footprint of gold mineralisation within the Fountain Head area.

Robust 2026 Field Program Underway

Patronus is well advanced in its 2026 Northern Territory field program, which aims to drill approximately 30,000 metres, comprising 6,000 metres of diamond drilling and 24,000 metres of RC drilling, alongside the collection of 3,000 surface geochemical samples. The program targets both brownfield opportunities with resource growth potential and greenfield prospects identified through last year’s surface sampling.

Managing Director John Ingram highlighted the significance of the drilling results, stating, "We have confirmed the presence of gold mineralisation well below the historical Tally Ho pit and outside the current Mineral Resource, further increasing our confidence that the system remains open at depth." He also noted the discovery of additional mineralised structural targets as a promising avenue for expanding the mineralised systems at both Tally Ho and Fountain Head.

Implications for Resource Growth and Exploration Strategy

The Tally Ho deposit is part of the broader Fountain Head area, which collectively hosts a Mineral Resource of 234,000 ounces at 1.4 g/t gold. The recent drilling results, including significant intercepts such as 6.0 metres at 1.42 g/t and high-grade hits exceeding 11 g/t over shorter widths, bolster the case for resource growth below the current pit shells.

Patronus plans to integrate the new assay data with detailed structural modelling to refine its exploration model. Follow-up RC drilling will test the newly identified linking structures, while deeper diamond drilling is under consideration to further evaluate the Tally Ho Extension target. This methodical approach aims to unlock additional ounces and enhance the project’s economic potential.

Technical Rigor and Historical Context

The drilling was executed with industry-standard HQ diamond core techniques, achieving over 99% core recovery and employing downhole gyro surveys for precise orientation. Samples were assayed by Intertek Darwin using fire assay methods, with rigorous quality control protocols including standards, blanks, and duplicates.

The Pine Creek Project area has a rich exploration history, with multiple companies contributing to the understanding of its gold and base metals potential. Patronus now controls this tenure, building on historical mining and recent exploration to advance its resource base.