Patronus Resources has completed its first modern drilling program in more than 30 years at the Davies No.2 prospect within the Golden Dyke area of its Pine Creek project in the Northern Territory, returning significant shallow gold intercepts.

The campaign involved six reverse circulation holes totaling 472 metres, testing an untested northerly plunge and an unmined northern extension. Significant intercepts included 10 metres at 2.05 grams per tonne of gold from 52 metres in hole GD26RC003, 9 metres at 1.32 grams per tonne from 77 metres in GD26RC001, and 6 metres at 1.91 grams per tonne from 50 metres in GD26RC004. Hole GD26RC006 returned 2 metres at 6.03 grams per tonne from 27 metres and 3 metres at 3.89 grams per tonne from 57 metres, ending in mineralisation due to water.

Validation of historical drilling at Davies No.2 confirmed broad, shallow gold intercepts including 36 metres at 1.51 grams per tonne from surface in DAV07, 19.4 metres at 1.57 grams per tonne from 18.4 metres in DAV02, and 27.4 metres at 1.58 grams per tonne from 24 metres in DAV06.

Geological logging shows mineralisation is associated with quartz veining and up to 10% visual sulphides around the contact between the Burrundie Dolerite and Koolpin Formation sediments. Cross-sections indicate repetition of the mineralised horizon, with two distinct lenses—an estimated 6-metre hanging-wall lode and a 3-metre footwall lode—identified within each mudstone unit. The system has been tested to a vertical depth of less than 100 metres and remains open along strike and at depth.

Patronus is advancing a 2026 exploration programme across the wider Pine Creek project comprising approximately 30,000 metres of reverse circulation and diamond drilling alongside 3,000 surface geochemical samples. The company plans follow-up drilling at Davies No.2, including re-entering drill hole GD26RC006.

“The first drilling at Davies No.2 in more than 30 years has delivered encouraging results, with consistent shallow gold mineralisation intersected across the prospect.”

“Importantly, Davies No. 2 is only one of several known prospects within the broader 4.3km by 1.8km Golden Dyke gold in soil anomaly. Most of these targets are yet to be tested by us and the area has seen very little modern exploration.”

— John Ingram, Managing Director

Elsewhere within the surrounding district, Far Northern Resources reported a 31% upgrade in the Mineral Resource Estimate for the Central Gold Deposit at Bridge Creek in June 2026, lifting contained gold to 93,000 ounces.

Read the full announcement: Shallow Gold Intersected at Golden Dyke, Pine Creek