Patriot Resources Unveils Major Silver Discovery at Kitumba Target B1

Patriot Resources Delivers Significant Silver Discovery at Kitumba Target B1

Patriot Resources Limited (ASX: PAT) has announced major silver and gold assays from its Phase 1 trenching programme at Target B1 within the Kitumba project in Zambia, significantly expanding the polymetallic potential of this emerging discovery. The Patriot Resources Kitumba silver discovery validates Target B1 as a compelling near-surface polymetallic system with exceptional growth potential.

The latest results confirm silver credits reaching 4.93g/t across 26-metre widths and copper equivalent grades of up to 0.33% over 14 metres. Furthermore, these results build upon the previously reported strong copper-zinc-lead values from November 2025, establishing the project as a multi-metal discovery with substantial exploration upside.

Outstanding Polymetallic Results Transform Target B1 Profile

The Phase 1 trenching programme has delivered multiple significant intercepts demonstrating the breadth and consistency of mineralisation across the 344 metres of total trenching completed. The systematic approach has revealed extensive polymetallic zones throughout the target area.

Key Programme Highlights

The trenching results reveal several critical features that enhance the Patriot Resources Kitumba silver discovery profile:

• Multiple zones of consistent mineralisation across all trenches
• Silver dominance across all trenches with values consistently above 3g/t
• Gold credits adding significant value, particularly in OTR02Ext
• Copper core zones flanked by zinc and lead halos, indicating classic zoned polymetallic deposit model

"The addition of significant Ag and Au results at Target B1 further validates this as a significant near-surface polymetallic system with unique geochemistry that could be potentially economic," stated Chief Geologist Eugene Gotora.

The geological interpretation from trench mapping indicates that mineralisation occurs in sandstone and mudstone with intercalations of shale and quartzite. In addition, the contacts show signs of iron staining, silica alteration, carbonate development, and brecciation with visible copper minerals including malachite, chrysocolla and chalcopyrite in some areas.

What Makes Copper Equivalent Important for Investors?

Copper equivalent represents a standardised way to express the combined value of multiple metals in a single grade figure. This calculation converts all metals (silver, gold, zinc, lead) into their copper value equivalent based on current market prices.

Why Copper Equivalent Matters to Investors

Simplified comparison across polymetallic deposits enables better evaluation of competing projects. Economic potential assessment becomes clearer with unified metrics that combine all metal values into a single, comparable figure.

Precious metal credits contribution to overall project value becomes apparent through standardised calculations. Moreover, this represents an industry standard for polymetallic resource evaluation and comparison across different deposits and companies.

Patriot's CuEq calculations use current market prices of $13,144/t for copper, $75.72/oz for silver, and $4,427/oz for gold, providing a realistic economic baseline for the deposit. The company assumes an 85% metallurgical recovery for guide purposes, though no metallurgical test work has been conducted at this stage.

The formula used for copper equivalent calculation is: CuEq (%) = Cu(%) + (Ag(g/t) x 0.018523) + (Zn(%) x 0.24081) + (Au(g/t) x 1.082875) + (Pb(%) x 0.15393).

Geophysical Surveys Reveal System Scale

Advanced geophysical surveys are demonstrating the true scale of the Patriot Resources Kitumba silver discovery system at Target B1. These comprehensive surveys provide critical insights into the depth and extent of the mineralised system.

Induced Polarisation Anomalies Confirm Depth Potential

High chargeability zones (2.4-3.5 mV/V) coincident with trench results indicate significant sulphide mineralisation extends beyond surface exposures. Anomalies extend to approximately 100 metres depth, suggesting substantial depth extension potential beneath current surface results.

Low magnetic and high resistivity signatures supporting the mineralisation model align with expectations for this style of polymetallic deposit. The geophysical data suggests several high chargeability IP anomalies lie coincident with the trench results and extend to a modelled depth of 100 metres from surface.

Survey Expansion Programme Details

Ground magnetics and IP survey extended from 30 hectares to 90 hectares, doubling the coverage area to better understand system extent. 60-hectare block extension currently underway will provide additional targeting data for future drilling programmes.

Strike length of main target area doubled from ~200m to ~400m, significantly expanding the potential resource footprint. Two additional parallel structures identified through the expanded geophysical programme suggest multiple mineralised zones within the broader target area.

These geophysical signatures suggest significant depth extension potential beneath the current surface trenching results, providing clear targets for future drilling programmes scheduled for Q2 2026.

Strategic Location in Proven Mining District

Target B1 benefits from its strategic positioning within Zambia's established mining infrastructure, supporting the Patriot Resources Kitumba silver discovery development potential. The project location offers multiple advantages for future development scenarios.

Location Advantages Include:

80% ownership through Newlight Nominees Zambia Limited partnership structure provides strong control over development decisions. Large-scale Licence 27715-HQ-LEL covers 25,511 hectares, offering substantial exploration potential beyond the current discovery area.

Licence remains valid until 30 May 2027, providing adequate time for systematic exploration and resource development. Located in Mumbwa district with established mining history and supporting infrastructure networks.

Proximity to Sinomine deposit demonstrating regional mineral potential validates the geological model and exploration approach. The project sits within the Katanga Supergroup geological setting, known for hosting significant base and precious metal deposits throughout the Central African Copperbelt.

However, this geological context provides confidence in the exploration model and potential for additional discoveries across the broader licence area. The regional setting has attracted significant exploration investment historically, with previous operators including Billiton conducting soil geochemical surveys during the 1990s.

BHP Billiton and Blackthorn Resources completed regional airborne magnetic surveys in 2004, establishing baseline geophysical understanding across the broader area. These historical surveys provide valuable context for interpreting current exploration results and planning future programmes.

Accelerated Exploration Timeline

Patriot Resources has outlined an aggressive timeline for advancing the Patriot Resources Kitumba silver discovery at Target B1. The systematic approach combines proven exploration techniques with modern geophysical methods to rapidly advance the project.

Immediate Next Steps:

Completion of 90-hectare geophysical survey (Q1 2026) will provide comprehensive targeting data across the expanded target area. Phase 2 trenching programme targeting newly identified anomalies will extend surface coverage and define drill targets.

Refine drilling targets based on geophysical and geological integration ensures optimal placement of initial drill holes. Initial drilling programme to test depth extensions (anticipated Q2 2026) represents the next major exploration milestone.

Medium-term Development Catalysts:

Maiden resource estimation following successful drilling programme will establish the scale and grade of the polymetallic system. Metallurgical test work to optimise recovery processes for multiple metals will determine economic viability parameters.

Regional exploration across the broader 25,511-hectare licence area offers potential for additional discoveries beyond Target B1. Potential partnership discussions for development funding may accelerate project advancement timelines.

The company's systematic approach combines proven exploration techniques with modern geophysical methods to rapidly advance the project through the exploration pipeline. The integration of surface trenching results with geophysical anomalies provides high-confidence drilling targets for the anticipated programme.

Investment Thesis for Patriot Resources

The investment opportunity presents compelling characteristics across multiple dimensions. Proven polymetallic discovery with significant silver, copper, gold, zinc, and lead credits demonstrates the multi-commodity potential of the system.

Compelling Investment Opportunity Characteristics:

Near-surface mineralisation potentially reducing future mining costs represents a significant economic advantage over deeper deposits. Large land position in established mining jurisdiction with supporting infrastructure provides development optionality.

Experienced management team with demonstrated track record in African mining operations reduces execution risk for investors. Clear development pathway with systematic exploration approach provides visible milestones and value inflection points.

Strategic Market Positioning:

Battery metals exposure (copper, zinc) aligned with energy transition demand offers leverage to secular growth trends. Precious metals diversification (silver, gold) providing price risk mitigation balances commodity exposure across market cycles.

Zambian jurisdiction offering established mining law and infrastructure advantages reduces political and operational risks. Diversified commodity exposure reducing dependence on single-metal price movements provides portfolio benefits.

Early-stage discovery with significant exploration upside potential offers substantial value creation opportunity for early investors. Financial structure advantages include well-funded exploration programmes through current partnership arrangements.

Disciplined capital allocation approach to programme advancement demonstrates management focus on shareholder value creation. Strategic partnerships reducing individual funding requirements for development minimise dilution risk.

"The Patriot Resources Kitumba silver discovery represents compelling exposure to both battery metals and precious metals within a mining-friendly jurisdiction. With significant silver and copper mineralisation confirmed at surface, strong geophysical anomalies extending to depth, and a clear drilling pipeline scheduled for Q2 2026, PAT offers investors early-stage exposure to a potentially significant polymetallic discovery."

The combination of proven mineralisation, strategic location, experienced management, and systematic development approach positions Patriot Resources as an emerging discovery story worthy of investor attention. As the company advances toward its first drilling programme at the promising Target B1 system, the Patriot Resources Kitumba silver discovery continues to demonstrate exceptional potential for value creation across multiple commodity exposures.

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