Paterson Resources Launches Major Drilling to Boost Grace Gold Resource

Drilling Campaign to Upgrade and Expand 200,000oz Gold Resource

Paterson Resources (ASX:PSL) is poised to embark on a significant drilling campaign at its Grace Gold Project, following receipt of all necessary regulatory approvals. The campaign aims to upgrade the current Inferred Mineral Resource Estimate (MRE) of 3.46 million tonnes at 1.79 g/t gold; equating to 200,000 ounces; and to extend known mineralisation along a 1.3-kilometre strike in the prolific Paterson Province.

The program consists of two key components: a diamond drilling effort of 1,200 metres across six holes, contracted to FORACO Australia, and a reverse circulation (RC) drilling campaign comprising 8,000 metres over 34 holes, managed by Stark Drilling. The diamond drilling is designed to partially upgrade the resource from Inferred to Indicated status while providing samples for ongoing metallurgical testing. Meanwhile, the RC drilling will focus on extending shallow, high-grade gold mineralisation along strike and investigating down-dip extensions of mineralised structures.

Strategic Importance of the Grace Gold Project in Paterson Province

The Grace Gold Project sits within a highly competitive and mineral-rich region, home to major players such as Rio Tinto, Antipa Minerals, and Greatland Gold. Nearby significant deposits include Greatland’s Havieron resource, with 8.5 million ounces of gold and copper, and the world-class Telfer mine, boasting over 30 million ounces of gold and copper, located just 25 kilometres northwest of Grace. This regional context underscores the potential value embedded in Paterson’s exploration efforts.

Paterson’s Executive Director Matt Bull emphasised the campaign’s potential to deliver a “transformational milestone” for shareholders. He highlighted the project’s shallow, high-grade gold mineralisation and excellent metallurgy as key strengths, along with clear pathways to market. The company plans to provide regular updates on drilling progress, assay results, and geological interpretations as the campaign unfolds.

Next Steps and Market Implications

The upcoming drilling campaign represents a critical step in de-risking the Grace Gold Project by improving the confidence in the resource estimate and expanding the known mineralisation footprint. If successful, upgrading the resource classification to Indicated status could materially enhance the project’s valuation and attractiveness to potential partners or financiers.

Investors will be watching closely for assay results and any indications of significant extensions to the mineralised zones. The campaign builds on Paterson’s recent resource upgrade to 200,000 ounces, which itself marked a near tripling of the inferred resource and underscored the project’s shallow, high-grade potential within an optimised pit shell. This drilling push could further cement Grace Gold’s standing in a globally significant gold province.