Paladin Energy reports new high-grade uranium discovery at Patterson Lake South
ASX- and TSX-listed Paladin Energy has completed its 2026 winter drilling programme at the Patterson Lake South (PLS) uranium project, in Saskatchewan, Canada, noting the discovery of a new body of high-grade uranium mineralisation the company has dubbed Atlas.
The mineralisation was intersected 3.5 km south of Paladin's Triple R deposit and 4.5 km south-west of Saloon East, in the Athabasca basin.
The highly prospective discovery followed a large-scale geophysical survey at PLS from February to June.
Overall, eight exploration drillholes were collared, with seven intersecting significant uranium mineralisation at the new Atlas discovery, totalling 2 408 m.
The intercepts include 17.5 m of total composite uranium mineralisation across three intervals, the largest being 8 m of triuranium octoxide grading 1.75% from 190 m; 14.5 m averaging 1.7% triuranium octoxide from 194 m; and 11 m averaging 1.79% triuranium octoxide from 189 m.
The Atlas discovery remains open along strike and at depth.
The 2026 winter drilling programme also targeted resource conversion and extension drilling at the Triple R deposit and further drilling on the Saloon East trend.
Paladin CEO Paul Hemburrow says the Atlas discovery is a significant and very positive result for Paladin’s exploration strategy and builds on the company's success in 2025 with the Saloon East discovery.
"The initial Atlas results reinforce the potential of the PLS project across multiple prospective mineral corridors and demonstrate the effectiveness of our systematic targeting approach that is now focused on the land-based trends surrounding Patterson Lake. We also continue drilling the Triple R deposit to upgrade confidence in that resource, focusing on resource to reserve conversion to add value to the life of the mine.”
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