Paterson Resources (ASX:PSL) - Non Executive Chairman, Nick Johansen
Non Executive Chairman, Nick Johansen
Source: Ward Keller
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  • Paterson Resources (PSL) has begun its 2021 exploration program at the Grace Project in Western Australia
  • Following a period of heavy rain, Exploration Manager Daniel McIntyre visited the site earlier in the month to prepare logistics
  • The aim of this program is to target a similar style of mineralisation to Newcrest Mining’s (NCM) Telfer Deposit, which lies 25 kilometres to the north
  • Work will also infill gaps between the known mineralisation at the Grace and Beam Shear Zones as well as test induced polarisation anomalies
  • Paterson Resources is up 7.69 per cent on the market and shares are trading at 4.2 cents

Paterson Resources (PSL) has begun its 2021 exploration program at the Grace Project in Western Australia.

The Grace Project lies in the Paterson Province where major exploration companies such as Rio Tinto (RIO), Newcrest Mining (NCM) and Greatland Gold are exploring.

Following a period of heavy rain, Exploration Manager Daniel McIntyre visited the site earlier in the month to prepare logistics.

The aim of this program is to target similar styles of mineralisation to Newcrest’s Telfer Copper Gold Deposit which lies 25 kilometres to the north.

Historical drilling at Grace has encountered significant high-grade gold mineralisation which has never been followed up.

Best results include 10 metres at 20.95g/t gold from six metres, 12 metres at 14.38g/t gold from 56 meres and 3.1 metres at 8.28g/t gold from 17.1 metres.

Upcoming work will also infill gaps between the known mineralisation at the Grace and Beam Shear Zones as well as test induced polarisation anomalies.

Results will be announced to the market as work progresses.

Paterson Resources is up 7.69 per cent on the market and shares are trading at 4.2 cents at 1:57 pm AEDT.

PSL by the numbers
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