Patronus Confirms High-Grade Gold Depth Potential at Tally Ho

Konrad Forrest
Patronus

6 July 2026 | Northern Territory - Patronus Resources has reported high-grade gold results from the first hole of its diamond drilling program at the Tally Ho deposit, part of the company’s Pine Creek Project in the Northern Territory.

The company completed four diamond holes for 1,432.53m at Tally Ho, with assays now received for the first hole, TH26DD001. Results from the remaining three holes are pending.

The first hole returned nine significant gold intervals across 461.32m, including a standout intercept of:

  • 2.61m at 6.38 g/t gold from 454m downhole

Other significant results from TH26DD001 included:

  • 0.62m at 7.37 g/t gold from 285.68m
  • 0.30m at 9.11 g/t gold from 293.7m
  • 0.33m at 8.55 g/t gold from 335.98m
  • 0.62m at 2.84 g/t gold from 356.6m

Patronus said the 454m intercept is located approximately 200m below the historical Tally Ho pit and outside the existing Mineral Resource Estimate, supporting the potential for a new structure at depth.

Managing Director John Ingram said the first results were very encouraging, intersecting high-grade gold well below the known deposit and supporting the company’s view that a previously unrecognised zone of mineralisation may sit below the existing Tally Ho resource.

Why it matters: Tally Ho forms part of the Fountain Head area within Patronus’ broader Pine Creek Project. The Fountain Head area includes the Fountain Head, Tally Ho and Glencoe deposits and hosts a combined Mineral Resource of 234,000 ounces at 1.4 g/t gold.

The drilling program was designed to test for a potential new mineralised zone in the footwall to the existing Tally Ho lodes. Patronus said its 3D geological modelling of historical gold intercepts had identified the potential for a new zone outside the existing resource, referred to as the “Tally Ho Extension”.

The latest result is important because it supports that depth-extension concept and suggests the gold system remains open below the historical mining area.

The result also builds on previous high-grade Tally Ho intersections, including 15.2m at 59.88 g/t gold, 3m at 25.94 g/t gold and 14m at 9.22 g/t gold from historical drilling.

Patronus has now commenced its 2026 Northern Territory dry season field program after a longer-than-usual wet season. Subject to approvals, the company plans to complete a major 30,000m drilling program, comprising approximately 6,000m of diamond drilling and 24,000m of RC drilling, along with around 3,000 surface geochemical samples.

The diamond drilling will focus on brownfields targets with resource growth potential, while RC drilling will test high-priority geochemical anomalies identified during the 2025 field season across the Pine Creek tenure.

Assays from the remaining three Tally Ho diamond holes are expected over the coming weeks. Patronus said the results will be used to refine its geological model and guide follow-up drilling.

For the Northern Territory gold sector, the Tally Ho result adds another encouraging brownfields exploration story in the Pine Creek region, where historical workings, existing resources and new drilling are being brought together to test deeper and broader gold potential.

Source: Patronus Resources ASX announcement, “High-Grade Gold Results Confirm Depth Potential at Tally Ho Deposit, Pine Creek Project, NT”, 6 July 2026.