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Paterson Resources ( (AU:PSL) ) has shared an announcement.
Paterson Resources has reported initial assay results from the first five holes of an 8,500m reverse circulation drilling program at its Grace Gold-Copper Project, confirming shallow, wide zones of gold mineralisation across a 1.3km strike. All five holes intersected significant gold, with notable grades and widths consistent with earlier campaigns, while assays from a further 13 holes are pending and expected to refine understanding of the mineralised system.
The company plans to launch a second drilling phase of about 6,000m in late March or early April to test extensions of known mineralisation and target an upgrade to the current inferred mineral resource of 69,000 ounces of gold. Management views the strong early results, combined with a supportive gold price environment and the forthcoming drilling and resource work, as potential catalysts for progressing the project toward production and enhancing shareholder value.
The most recent analyst rating on (AU:PSL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Paterson Resources stock, see the AU:PSL Stock Forecast page.
More about Paterson Resources
Paterson Resources Limited is an ASX-listed exploration company focused on the Grace Gold-Copper Project in Western Australia. The company is advancing gold and copper exploration through multi-phase reverse circulation drilling campaigns aimed at defining and upgrading its existing inferred mineral resource and assessing potential development pathways.
YTD Price Performance: 26.47%
Average Trading Volume: 666,681
Technical Sentiment Signal: Hold
Current Market Cap: A$23.58M
Find detailed analytics on PSL stock on TipRanks’ Stock Analysis page.