# PTN: First-Pass Drilling Intersects Gold at Greenfields Targets

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142472

Publisher: asx

Original announcement: 2026-09-22T22:15:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-22T23:13:34.168Z

Atlas analysis updated: 2026-09-22T23:13:34.168Z

- Company: Patronus Resources

- Ticker: PTN

- Exchange: ASX

- Region: Northern Territory

- Primary commodity: Gold

- Secondary commodities: Copper

- Document categories: Drill results

- Extracted: 2026-09-22 23:13:35 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

Patronus Resources reported encouraging initial results from first-pass Reverse Circulation \(RC\) drilling at its Pine Creek Project in the Northern Territory, intersecting significant gold at two greenfields targets, Burnside North and Grove Hill. Highlights include 44m at 0.76 g/t gold from 96m in hole HY26RC004, which ended in mineralisation, and 3m at 2.37 g/t gold from 15m in GH26RC002. The company plans immediate follow-up drilling, with many assay results still pending from this early-stage, wide-spaced program.

Reasoning: First-pass drilling at greenfields targets returned significant gold intercepts, including a wide zone that ended in mineralisation, indicating strong exploration potential despite the early stage and pending assays.

- Positive factor: significant\_intercept\_width

- Positive factor: hole\_ended\_in\_mineralisation

- Positive factor: greenfields\_discovery

- Positive factor: good\_grade\_intercept

- Positive factor: immediate\_follow\_up\_planned

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

- Negative factor: wide\_spaced\_drilling

- Negative factor: many\_assays\_pending

Facts used in scoring: 7

## Classification and evidence

**Exploration Drilling**

Polarity: neutral

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The document explicitly states 'first-pass RC drilling' and 'greenfields targets'.

Evidence · text

> First-pass RC drilling within the 5km-long Hydra target area at Burnside North

**Greenfields Discovery**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The drilling is described as 'first-pass' at 'greenfields targets' in previously untested areas.

Evidence · text

> FIRST-PASS DRILLING INTERSECTS GOLD AT TWO GREENFIELDS TARGETS

**Apparent Width Only**

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: The document states 'Reported drill intercepts are down-hole widths and, unless otherwise stated, true widths are not yet known'.

Evidence · text

> Reported drill intercepts are down-hole widths and, unless otherwise stated, true widths are not yet known.

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release includes a detailed JORC Table 1 with information on sampling techniques, laboratory procedures, and QA/QC methods including blanks, standards, and duplicates.

Evidence · text

> Field QAQC procedures included the insertion of blanks at a rate of Field blanks are inserted at a rate of 1 in 50, standards 1 in 25 and duplicates 1 in 50 samples.

**Compositing Transparent**

Polarity: positive

Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals.

Why it applies: The cut-off grade of 0.4 g/t and maximum 2m internal waste for compositing are clearly stated.

Evidence · text

> Cut-off is 0.4 g/t with max 2m internal waste.

**Hole Ended in Mineralisation**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: Hole HY26RC004, which returned a significant 44m intercept, was reported to have ended in mineralisation, suggesting potential for further extension.

Evidence · text

> 44m @ 0.76 g/t Au from 96m – hole ended in mineralisation

## Extracted facts

Stored fact records: 7. Some facts used in scoring do not have a stored record.

## Drill Results (7)

### HY26RC002

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-0)

Pine Creek · gold

#### Identity

- Hole ID: HY26RC002
- Project: Pine Creek
- Commodity: gold
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 1.95
- Grade Unit: g/t
- Intercept: 1 m
- From: 23 m
- To: 24 m
- Hole Depth: 140 m
- Intercept Depth: 23 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: HY26RC002:23-24
- Mining Method: unknown

#### Location

- Location: Hydra
- Easting: 773019
- Northing: 8521877
- CRS: MGA94 Zone 52
- Elevation: 108 m
- Azimuth: 20 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: This narrow, moderate-grade gold intercept in first-pass drilling at a greenfields target is an encouraging early result.

- Positive factor: good\_grade\_intercept

- Positive factor: greenfields\_discovery

- Negative factor: narrow\_intercept\_width

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

Evidence · table

> 1.95

Context: 1

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

### HY26RC004

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-1)

Pine Creek · gold

#### Identity

- Hole ID: HY26RC004
- Project: Pine Creek
- Commodity: gold
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 1.78
- Grade Unit: g/t
- Intercept: 3 m
- From: 27 m
- To: 30 m
- Hole Depth: 140 m
- Intercept Depth: 27 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: HY26RC004:27-30
- Mining Method: unknown

#### Location

- Location: Hydra
- Easting: 772657
- Northing: 8522780
- CRS: MGA94 Zone 52
- Elevation: 120 m
- Azimuth: 220 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: This moderate-width, good-grade gold intercept in first-pass drilling at a greenfields target is an encouraging early result.

- Positive factor: good\_grade\_intercept

- Positive factor: greenfields\_discovery

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

- Negative factor: wide\_spaced\_drilling

Evidence · table

> 1.78

Context: 3

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

### HY26RC004

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-2)

Pine Creek · gold

#### Identity

- Hole ID: HY26RC004
- Project: Pine Creek
- Commodity: gold
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 0.76
- Grade Unit: g/t
- Intercept: 44 m
- From: 96 m
- To: 139 m
- Hole Depth: 140 m
- Intercept Depth: 96 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: HY26RC004:96-139
- Mining Method: unknown

#### Location

- Location: Hydra
- Easting: 772657
- Northing: 8522780
- CRS: MGA94 Zone 52
- Elevation: 120 m
- Azimuth: 220 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: This wide gold intercept in first-pass drilling at a greenfields target, which ended in mineralisation, indicates strong potential for a significant discovery.

- Positive factor: significant\_intercept\_width

- Positive factor: hole\_ended\_in\_mineralisation

- Positive factor: greenfields\_discovery

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

- Negative factor: wide\_spaced\_drilling

Evidence · table

> 0.76

Context: 44

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

### HY26RC006

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-3)

Pine Creek · copper

#### Identity

- Hole ID: HY26RC006
- Project: Pine Creek
- Commodity: copper
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 0.2
- Grade Unit: %
- Intercept: 1 m
- From: 74 m
- To: 75 m
- Hole Depth: 140 m
- Intercept Depth: 74 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: HY26RC006:74-75
- Mining Method: unknown

#### Location

- Location: Hydra
- Easting: 772528
- Northing: 8522300
- CRS: MGA94 Zone 52
- Elevation: 120 m
- Azimuth: 20 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: This narrow, weak-grade copper intercept indicates anomalism at a greenfields target, but its significance is limited by width and grade.

- Positive factor: copper\_anomalism\_identified

- Positive factor: greenfields\_discovery

- Negative factor: narrow\_intercept\_width

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

Evidence · table

> 0.2% Cu

Context: 1

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

### ME26RC005

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-4)

Pine Creek · copper

#### Identity

- Hole ID: ME26RC005
- Project: Pine Creek
- Commodity: copper
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 1
- Grade Unit: %
- Intercept: 1 m
- From: 39 m
- To: 40 m
- Hole Depth: 140 m
- Intercept Depth: 39 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: ME26RC005:39-40
- Mining Method: unknown

#### Location

- Location: Hydrellison
- Easting: 771238
- Northing: 8522354
- CRS: MGA94 Zone 52
- Elevation: 123 m
- Azimuth: 255 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: The identification of copper anomalism, including a 1m at 1% Cu intercept, is a positive early indicator for a secondary commodity at a greenfields target.

- Positive factor: copper\_anomalism\_identified

- Positive factor: greenfields\_discovery

- Negative factor: narrow\_intercept\_width

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

Evidence · table

> 1% Cu

Context: 1

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

### GH26RC002

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-5)

Pine Creek · gold

#### Identity

- Hole ID: GH26RC002
- Project: Pine Creek
- Commodity: gold
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 2.37
- Grade Unit: g/t
- Intercept: 3 m
- From: 15 m
- To: 18 m
- Hole Depth: 124 m
- Intercept Depth: 15 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: GH26RC002:15-18
- Mining Method: unknown

#### Location

- Location: Moonsault
- Easting: 779823
- Northing: 8506486
- CRS: MGA94 Zone 52
- Elevation: 124 m
- Azimuth: 263 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: This moderate-width, strong-grade gold intercept in first-pass drilling at a greenfields target is a very encouraging early result.

- Positive factor: good\_grade\_intercept

- Positive factor: greenfields\_discovery

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

- Negative factor: wide\_spaced\_drilling

Evidence · table

> 2.37

Context: 3

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

### GH26RC014

[Link to this fact](https://atlas-staging.minestarters.com/news/ptn-first-pass-drilling-intersects-gold-at-greenfields-targets--46aaa995-5fae-4ba9-ba7c-e63fa8d2772a#fact-drill-facts-6)

Pine Creek · gold

#### Identity

- Hole ID: GH26RC014
- Project: Pine Creek
- Commodity: gold
- Region: australia\_nt
- Reported Region: australia\_nt
- Ticker: PTN

#### Geometry

- Grade: 0.8
- Grade Unit: g/t
- Intercept: 4 m
- From: 105 m
- To: 109 m
- Hole Depth: 120 m
- Intercept Depth: 105 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: GH26RC014:105-109
- Mining Method: unknown

#### Location

- Location: Full Nelson
- Easting: 779864
- Northing: 8504163
- CRS: MGA94 Zone 52
- Elevation: 168 m
- Azimuth: 83 °
- Dip: -60 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Intertek
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Deleterious

- Deleterious Flag: No

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au
- Max Dilution: 2 m

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-22T00:00:00.000Z

Reasoning: This moderate-width, moderate-grade gold intercept in first-pass drilling at a greenfields target is an encouraging early result.

- Positive factor: moderate\_grade\_intercept

- Positive factor: greenfields\_discovery

- Negative factor: apparent\_width\_only

- Negative factor: early\_stage\_drilling

- Negative factor: wide\_spaced\_drilling

Evidence · table

> 0.8

Context: 4

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: proximity is offered as the value premise: "Hydrellison is located adjacent to the historical Mt Ellison Cu-Bi mine, on the south side of the Pine Creek Shear Zone."

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.