Patronus Resources advances Pine Creek and Cardinia exploration as it divests non-core asset

Kin Mining NL ( (AU:PTN) ) has issued an announcement.

Patronus Resources reported that infill sampling at its Pine Creek Gold Project in the Northern Territory has confirmed broad-scale gold anomalism at the Northern Leases and Grove Hill areas, advancing these targets into a prioritised drilling pipeline. Post-quarter, diamond drilling began at the Fountain Head / Tally Ho area, underscoring the company’s efforts to unlock further value from its 100%-owned 234koz Fountain Head Gold Project.

In Western Australia, Patronus finalised planning for the next phase of exploration at the Cardinia Gold Project, including follow-up drilling at the Guppy prospect, with work programs contingent on completing heritage agreements and approvals with Traditional Owners in the Darlot and Nyalpa Pirniku areas. The company also agreed to divest its non-core Desdemona Project to CGN Resources in exchange for a 4.3% shareholding, while ending the quarter well funded with $75 million in cash and liquid assets to support its exploration-led growth strategy.

More about Kin Mining NL

Patronus Resources is an Australian mineral exploration company focused on gold, uranium and base metals, with key assets in the Northern Territory’s Pine Creek Orogen and Western Australia. Its portfolio includes the 100%-owned 234koz Fountain Head Gold Project, the Hayes Creek VMS Project, the Pine Creek Uranium Project and a 1,500km² landholding prospective for multiple commodities, supported by a strong cash and liquid investments position.

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