Patronus Resources (ASX:PTN) said diamond drilling at its Mertondale Gold Project in Western Australia showed the potential for other high-grade areas that continue below the recently reported mineral resource estimate, according to a Wednesday filing with the Australian bourse.
The drilling results included six meters at 2.78 grams per tonne grade of gold from 270 meters, equating to 16 gram meters, the filing said.
Mineralization remains open along strike and down-plunge, the filing added.
Further drilling is scheduled for the fiscal third quarter, per the filing.
Shares of the company rose 4% at market close.
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