Patronus Resources (ASX: PTN) has successfully intersected high-grade gold mineralisation at depth within the Fountain Head project in the Northern Territory. The company recently completed a four-hole diamond drilling program totalling 1,432.53 metres, specifically designed to test the potential for a previously unidentified mineralised zone situated beneath the historical Tally Ho pit.

Assay results from the first completed hole, TH26DD001, have confirmed the presence of multiple gold-bearing intervals throughout the 461.32-metre hole. Notably, the drilling returned an intersection of 2.61 m @ 6.38 g/t Au starting from 454 metres downhole. This discovery sits well below the existing mineral resource estimate and aligns with the company’s internal 3D geological modelling, which indicated that the system remained open at depth and potentially contained untapped mineralised structures.

"These first results from Tally Ho are very encouraging, intersecting high-grade gold well below the known deposit and providing strong support for our theory that a zone of previously unrecognised gold mineralisation sits below the existing Tally Ho resource."

— John Ingram, Managing Director

The remaining three diamond drill holes from the current campaign have already been logged, with the company awaiting further assay results. These findings are expected to refine the understanding of the local mineralisation trends, including an alternative north-east to south-east structural orientation identified through core photo interpretation and field mapping studies.

This drilling marks the commencement of the broader 2026 exploration program for Patronus. Following a delayed start due to the Northern Territory's wet season, the company is now ramping up its field activities. The current schedule includes a total of 30,000 metres of drilling—comprised of approximately 6,000 metres of diamond drilling and 24,000 metres of reverse circulation drilling—alongside a large-scale surface geochemical sampling campaign targeting various prospects across the Pine Creek tenure.

Read the full announcement: HG Gold Results Confirm Depth Potential At Tally Ho Deposit