Paterson Resources Ltd has secured all necessary regulatory approvals to commence a comprehensive drilling campaign at its flagship Grace Gold Project in Western Australia’s Paterson Province.

The upcoming campaign is split into two components. Paterson Resources has appointed FORACO Australia to complete 1,200 metres of diamond drilling across six holes, which is designed to enable a partial upgrade of the current Inferred Mineral Resource Estimate to Indicated status while providing samples for ongoing metallurgical test work. In addition, Stark Drilling will carry out a reverse circulation program comprising 3,46Mt @ 1.79 g/t Au for 200,000oz Au contained gold along the 1.3-kilometre strike event and evaluate down-dip extensions of interpreted mineralised structures.

“The Board is optimistic the upcoming drilling campaign can deliver another transformational milestone, with the potential to create incremental value for shareholders. Key drivers will be an upgrade in the quality of the MRE, coupled with significant extensions to known mineralisation along the strike event and down-dip. Regardless, the Grace Gold Project is located in the world class Paterson Province, hosts shallow high-grade gold mineralisation with excellent metallurgy and definable pathways to market.”

— Matt Bull, Executive Director

The current resource stands at 3.46 million tonnes at 1.79 grams per tonne gold for 200,000 ounces of contained gold, representing an increase from the prior estimate of 1.59 million tonnes at 1.35 grams per tonne gold for 69,000 ounces. Regular updates, assay results and geological interpretations will be released as the campaign progresses.

Read the full announcement: Comprehensive Drilling Campaign to Commence at Grace Project