Paterson Resources Limited (ASX:PSL), a company focused on the exploration and development of mineral resources, is set to begin an 8,500-metre drilling program at its Grace Gold Project in the Paterson Province. The company announced that BWE Drilling has been appointed to undertake the drilling, with rig mobilisation expected to commence in early September. This drilling program is targeting the upgrade of the current inferred mineral resource at Grace to a JORC compliant indicated mineral resource estimate, with release scheduled for the March Quarter.
The drilling will focus on extending the high-grade gold lode discovered in previous programs, which runs parallel to the inferred mineral resource estimate at Grace. Paterson Resources’ Executive Director, Mr Matt Bull, stated that the company aims to add immediate value to the project through this drilling, given the thick, shallow, high-grade gold intervals that are open along strike and at depth. The program aims to upgrade the deposit to a JORC compliant indicated mineral resource estimate to feed into an ongoing scoping study.
The Grace Gold-Copper Project is strategically located in the Paterson Province, an area actively explored by major players such as Rio Tinto, Newcrest, and Greatland Gold. Nearby significant discoveries include Greatland Gold’s Havieron gold-copper resource and Cyprium Metal’s Maroochydore copper prospect. Paterson Resources is undertaking this drilling program to extend the high-grade gold shoot discovered from previous drilling programs.
Significant intercepts from past drilling include 15m @ 4.03g/t Au from 77m, including 6m @ 9.3g/t Au from 79m, and 35m @ 2.34 g/t Au from 91m, including 17m @ 4.57 g/t Au from 98m. The company believes further drilling will contribute to upgrading the current resource estimate. Performance rights were issued to directors, subject to shareholder approval, as announced on August 13, 2025.
