Key Highlights

  • Final assays from all 28 RC holes, totalling 3,514m at Grove Hill, have been received.
  • Full Nelson returned 3m at 2.77 g/t gold from 20m and 5m at 0.65 g/t gold from 11m.
  • Gold intercepts are interpreted to lie along a north-trending structure over about 800m of strike.
  • The company had $72 million in cash and liquid investments at 30 September 2026.

Patronus Resources Limited (ASX:PTN) has reported results from first-pass Reverse Circulation Drilling at Grove Hill, within its Pine Creek Project in the Northern Territory. The announcement dated 11 November 2026 reports final assays from all 28 holes, totalling 3,514m, drilled across the Moonsault, Full Nelson and Half Nelson prospects.

The Full Nelson intercepts

Full Nelson returned 3m at 2.77 g/t gold from 20m in hole GH26RC026, and 3m at 1.18 g/t from 28m in the same hole. Hole GH26RC028 returned 5m at 0.65 g/t from 11m and 8m at 0.86 g/t from 25m. The company said these shallow intercepts lie along a north-trending structure over about 800m of strike.

Earlier results from Grove Hill included 3m at 2.37 g/t from 15m at Moonsault, and 4m at 0.80 g/t from 105m at Full Nelson.

Drill spacing and the structural model

The drill lines at Full Nelson are spaced up to 480m apart, and the company said additional work is needed to determine the continuity, geometry and extent of the mineralisation. The current picture is therefore based on widely spaced shallow holes.

The company plans further mapping and geological interpretation to assess potential follow-up targets. The 2026 Northern Territory drilling program is now complete, and the remaining assay results from the wider program are expected over coming months.

Market position and the next phase

At the time of the announcement, Patronus had about 1,479 million shares on issue, a Market Capitalisation of about $68 million and cash and liquid investments of $72 million at 30 September 2026. The company said the program is a first-pass test of three prospects.

The intercepts are short, shallow and at modest grades, so they are a first pass rather than an indication of a resource. Follow-up will need to define whether the Full Nelson structure carries continuous mineralisation at depth.

Final Word

Patronus has completed its first-pass Grove Hill program and identified gold along an 800m north-trending structure at Full Nelson. Interpretation, the remaining assays and any follow-up drilling will show whether the shallow intercepts reflect a wider mineralised system.