Highlights

  • The business reports silver, lead, zinc and copper, elevated molybdenum, and arsenic, antimony and bismuth as pathfinder elements.
  • It interprets the geochemistry as broadly consistent with an intermediate sulphidation epithermal system like the main Tassa corridor.
  • - Breccia sample 5067: 27.7 grams per tonne silver, 3,000 parts per million lead and 2,550 parts per million arsenic.
  • The company's own geologists reviewed the samples, and no external audit has been carried out.

Patriot Resources (ASX:PAT) has released the first assay results from surface sampling at Pachamayo, in the Elvira sector of its wholly owned Tassa Silver-Gold Project in southern Peru. The sector lies about two kilometres north-east of the existing Tassa Mineral Resource. The company describes the results as consistent with an epithermal mineralised system, but the work is early-stage surface sampling and is not drilling.

What Was Sampled

The field programme covered about 65 hectares. Patriot submitted 38 surface rock samples, plus four quality-control samples, to ALS in Peru. Mapping identified an opaline silica breccia about 20 metres wide and 120 metres long with intense silicification, surrounded by altered lithic tuffs showing argillic alteration and opaline silica infiltration over an area of up to 60 by 200 metres.

The business reports silver, lead, zinc and copper, elevated molybdenum, and arsenic, antimony and bismuth as pathfinder elements. It interprets the geochemistry as broadly consistent with an intermediate sulphidation epithermal system like the main Tassa corridor. Management suggests the breccia could be the upper part of a deeper mineralised system, and that Elvira may be either a peripheral extension of the Central Sector or a separate hydrothermal centre.

Key Assay Results

Maximum values across the 38 samples were 27.7 grams per tonne silver, 0.30 per cent lead, 0.25 per cent zinc, 0.06 per cent copper, 343 parts per million molybdenum and 0.26 per cent arsenic. These maxima come from different samples. Selected results include:

- Breccia sample 5067: 27.7 grams per tonne silver, 3,000 parts per million lead and 2,550 parts per million arsenic.

- Breccia sample 5080: 17.6 grams per tonne silver.

- Lithic tuff sample 5071: 6.0 grams per tonne silver, 1,130 parts per million zinc and 343 parts per million molybdenum.

The molybdenum maximum therefore came from altered tuff rather than from the breccia itself.

Sampling Limits

Samples were continuous channel samples of up to about two metres, cut by hammer and chisel and averaging about 2.6 kilograms, and analysed at ALS for eight elements using four-acid digestion. About 10 per cent of the batch were blanks, duplicates or certified reference materials, and the company says they showed acceptable accuracy and precision. The company's own geologists reviewed the samples, and no external audit has been carried out. Patriot states that sampling is surface-only, that geological and grade continuity cannot yet be established, and that true widths are unknown.

Project Background

Tassa holds an Inferred Mineral Resource, reported in February 2026, of 31.4 million ounces of silver equivalent from 18.53 million tonnes, with about 81 per cent of metal value from silver, according to the company. Patriot also refers to a conceptual Exploration Target announced in May 2026, which it notes is not a Mineral Resource and has insufficient exploration to define one. Elvira is not included in either.

The three granted mining concessions cover about 1,200 hectares, and a fourth of about 600 hectares was recently registered and is being titled. Patriot says initial cyanide leach tests indicate high silver recovery from surface material, though more testing is recommended.

Next Steps

The chief executive, Dominic Duggan, said the priority remains the Tassa Main drilling programme. Contractor site visits are under way, but drilling is subject to a drill permit that the company is still awaiting. Further planned work comprises:

- Surface sampling on the adjoining Tassa 5 licence, south of the resource.

- Detailed structural, geological and alteration mapping, including the two-kilometre corridor between Elvira and Tassa.

- More systematic channel sampling of breccia and altered tuffs.

- Mineralogical studies to refine the interpretation and rank drill targets.

The results were reported under JORC 2012 by Chief Geologist Eugene Gotora as Competent Person.