Paterson Resources Limited announced that drilling has now commenced at the Grace Copper Gold Project with the first 3 holes now completed. The Grace Project hosts gold deposits similar to the world class Telfer gold deposit just 25 km north. The aim of the program is to prove up existing deposits at Grace discovered by previous drilling, test the deposit for extensions along strike and at depth along the Grace-Bemm shear zone. In addition, the Company will explore for new deposits using recent geophysics with an improved understanding of the geology. Drilling commenced with holes targeting the Parallel Range fault in the Isdell and Malu formations proximal to
a granite intrusion. Drilling is progressing well with five holes completed for 842m and 295 samples from the first two holes are already on their way to the lab. The program will continue with holes planned to test the Grace-Bemm shear, known to host gold mineralisation and the Lakes prospect to the southwest. The Grace Gold-Copper Project is in the heart of the Paterson Province, where multiple major exploration groups including Rio Tinto, Newcrest and Greatland Gold are actively exploring within the region. Significant discoveries proximal to Paterson's Grace Project include the Havieron gold-copper deposit to the north- east where Greatland Gold recently reported a 5.5 million ounce gold resource, Cyprium Metal's Maroochydore copper prospect to the south and the world-class 30-plus million ounce Telfer Gold-Copper Mine, owned by Newcrest, located 25km northwest.