Patronus Resources (ASX:PTN) said that its reverse circulation drilling program at the Glencoe gold project in the Northern Territory intersected gold outside the existing mineral resource estimate and extended the strike and down-dip extent, according to a Tuesday Australian bourse filing.
The program consisted of 17 drill-holes for a total of 2,142 meters, with significant gold intersections including one meter at 28.33 grams-per-tonne grade of gold from one meter, as well as three meters at 4.17 g/t grade of gold from 94 meters.
The data from this drill program will be used in broader regional studies across the Pine Creek tenements to generate large-scale deposit targets in gold, uranium, and base metals.
The firm's shares fell 3% in recent trading on Tuesday.
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