ASX: PAT | 16 February 2026
Patriot Resources Limited (ASX: PAT) has delivered a maiden JORC (2012) Inferred Mineral Resource of 31.4 million ounces of silver equivalent (AgEq) at its Tassa Silver & Gold Project in southern Peru, confirming the scale and growth potential of a large, silver-dominant epithermal system.
The inaugural Mineral Resource totals 18.53 million tonnes at 52.68g/t AgEq, including 25.5 million ounces of contained silver at 42.73g/t Ag, with mineralisation commencing from surface and remaining open in all directions. The resource is interpreted to be amenable to open pit mining and represents a key milestone in Patriot’s strategy to unlock value from underexplored, high-quality mineral systems.
In addition to the maiden resource, Patriot has declared a JORC-compliant Exploration Target in the range of 29–46Mt at 43–59g/t AgEq, equating to 40–87Moz AgEq, highlighting substantial upside potential beyond the current resource footprint.
The Mineral Resource and Exploration Target were independently estimated and reported in accordance with the JORC Code (2012) by Geminas Advisory, based on historical drilling, geological modelling and recent validation work.
The Tassa Project hosts a silver-dominant polymetallic system (Ag-Au-Cu-Zn-Pb), with silver contributing approximately 81% of contained metal value. The current resource is defined from 26 diamond drill holes totalling 8,474 metres, with multiple mineralised zones remaining open along strike and at depth. Several drill holes ended in mineralisation, reinforcing the opportunity for resource expansion through infill and step-out drilling.
Importantly, Patriot acquired the Tassa Mineral Resource for an initial consideration of approximately US$0.04 per contained silver equivalent ounce, underscoring the capital efficiency of the transaction relative to prevailing silver prices.
Patriot’s Executive Chairman, Hugh Warner said:
“The delivery of a Maiden JORC (2012) Inferred Mineral Resource of 31.4Moz AgEq marks a transformational milestone for Patriot and underscores the exceptional value of the Tassa Project.
Importantly, this resource was secured at an initial consideration of approximately US$0.04 per contained silver equivalent ounce. Even more impressive when we compare current silver prices of US$77/oz.
The current resource represents a portion of a much larger mineralised system that remains open in all directions, with multiple drill holes ending in mineralisation. Notably, DDH-T-01 returned 26 metres at 39.0 g/t AgEq from 226 metres to end of hole, and DDH-T-20 delivered 6 metres at 61.9 g/t AgEq from 147 metres to end of hole, highlighting the potential for further extensions both laterally and at depth.
With a solid foundation now established, we are advancing plans for a 2026 drilling program focused on infill drilling to upgrade classification and step-out drilling to unlock additional growth across this emerging silver-dominant epithermal system.”
Looking ahead, Patriot plans to progress permitting and approvals ahead of a 2026 drill program, targeting both resource classification upgrades and material extensions to the known mineralisation across the broader Tassa tenure.
About us:
About Patriot Resources Limited
Patriot Resources Limited (ASX: PAT) is an Australian exploration Company committed to discovering and developing high-value battery and critical mineral assets. The Company targets jurisdictions with tier-1 geological potential, supportive infrastructure, and clear pathways to development. Patriot combines disciplined exploration with strategic partnerships to advance projects capable of near-term development while maintaining a long-term growth pipeline. The Company’s approach emphasises capital efficiency, scalability, and alignment with the global energy transition. Through a diversified portfolio and an experienced leadership team, Patriot is well-positioned to deliver shareholder value in a rapidly evolving resource sector.
Contact details:
Jane Morgan -
jm@janemorganmanagement.com.au
+ 61 (0) 405 555 618
