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Golden Mile Resources Ltd. ( (AU:G88) ) has shared an announcement.
Patronus Resources has acquired the remaining 20% interest in the Guppy–Benalla area for $250,000 in cash, giving it full ownership of this tenure within the broader Cardinia Gold Project near Leonora in Western Australia. The consolidation removes joint venture constraints and provides Patronus with full flexibility over exploration strategy and potential future development pathways in this key zone.
Guppy lies about 6km from the 475koz Cardinia East resource within a proven mineralised corridor, where previous drilling has returned high‑grade gold intercepts and recent geochemistry has outlined a target extending up to 2.5km along strike. With rock chip assays up to 3.27g/t gold and follow‑up aircore and RC drilling planned after heritage surveys, the move positions Patronus to systematically test the corridor’s scale and its potential contribution to the broader Cardinia development strategy.
More about Golden Mile Resources Ltd.
Patronus Resources Ltd. is an Australian gold exploration company focused on developing its Cardinia Gold Project near Leonora in Western Australia. The company targets high-grade gold deposits within proven mineralised corridors and is working to expand its resource base and development options around existing discoveries such as the 475koz Cardinia East resource.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.48M
Find detailed analytics on G88 stock on TipRanks’ Stock Analysis page.