Patronus Resources has announced the approval of the amended mining management plan (MMP) for its wholly-owned Fountain Head Gold project by the Northern Territory (NT) Government of Australia.
The NT Minister for Lands, Planning and Environment Joshua Burgoyne, approved the amended MMP, which was submitted in December 2023.
The approval is a crucial step for the Fountain Head Gold project, located 170km from Darwin, as it moves closer to development.
The project was earlier owned by PNX Metals, which was acquired by Patronus Resources in September this year.
The MMP approval follows the environmental approval received on 17 February 2023 under the NT Environment Protection Act 2019.
Patronus Resources CEO, John Ingram said: “We are delighted with the timely receipt of the MMP approval from Minister Burgoyne, and I would like to thank the NT Government for their efficient management and oversight of this process, which demonstrates their ongoing commitment to support the development of new resource projects in the Territory.
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“This is an important regulatory approval which allows us to move the Fountain Head Project forward. We are looking forward to receiving assay results from the current RC drilling at Glencoe and the imminent commencement of diamond drilling at Fountain Head, as part of a new phase of work aimed at expanding and upgrading the current resources to inform future development scenarios.”
The Fountain Head Gold project encompasses the Fountain Head (96koz), Tally Ho (59koz), and Glencoe (79koz) gold deposits.
Currently, 2,000m of reverse circulation (RC) drilling is in progress at the Glencoe site, while 500m of diamond drilling is planned to begin soon at the Fountain Head location.
These drilling efforts aim to explore high-grade extensions of the existing resource, which currently stands at 234,000oz of gold.
In a recent activities update released in October last month, Patronus Resources detailed a 2,500m drilling programme to expand and improve its current resource base.
The company plans for further drilling and an updated mineral resource estimate in 2025.
