Projects

Tassa
Silver-Gold Project

Peru

100%- owned, High-grade Silver-Gold System in Peru’s Prolific Southern Epithermal Belt

Project Highlights

  • Maiden JORC (2012) Inferred Resource of 31.4 Moz AgEq at 52.68g/t AgEq1
    • Standout high-grade zones including 60m @ 224.20 g/t Ag (incl. 16m @ 383.9 g/t) and 4m @ 919.50 g/t Ag.
    • Mineralisation remains open in all directions
    • Silver Dominant Polymetallic (Ag, Au, Cu, Zn, Pb) Mineral Resource
  • Massive Exploration Target: range of 422-359 Mt at a grade of 57-48 g/t for 774- 559 Moz AgEq over ~2.9km strike
  • Infill and step-out drilling across the target-rich tenure is expected to significantly expand the MRE
  • Tier-1 Peruvian mining Jurisdiction
    • Peru is the world’s largest holder of silver reserves and the 3rd largest producer globally.
    • Located just from Buenaventura’s San Gabriel Gold mine with 1.8 million ounces of Proven and Probable Gold Reserves at 3.71 g/t gold and 3.1 million ounces of silver2
    • Surrounded by majors including Teck, Barrick, and Fresnillo.
  • Strategically located 120km from the major hub of Arequipa, Sánchez Cerro province of the Moquegua region, the Tassa Project benefits from a de-risked, infrastructure-ready environment with established power, road, rail, and air links.

Map 1 — Location: A Strategic Address in an Established Mining Region

  • 120km from Arequipa, Peru’s second-most populous city, in the Moquegua region, putting Tassa within reach of skilled labour, logistics and supply chains that remote, frontier-stage projects don’t have.
  • Tassa sits within an infrastructure-ready environment in an active mining province. Established roads, power and services support a faster, lower-cost
    pathway to development than a typical greenfield discovery, where that
    infrastructure has to be built from scratch.

Map 2 — Regional Geology: The Right Address for a Silver-Gold System

  • Regional mapping places Tassa within the same rock package responsible for
    mineralisation across the district, a mix of Yura Group sediments (green) and Tacaza Group volcanics (yellow), meaning the Project sits in proven, mineralised host rocks rather than untested ground.
  • A dominant NW-SE structural trend runs through the Project. These structuresare the pathways that channelled mineralising fluids, giving the exploration team clear, geology-led targets to follow rather than a speculative search.
  • Located just 18km NW of the producing San Gabriel silver-gold mine (Au-Ag), and sitting among a cluster of other identified prospects across the same district, including Quello Quello (Ag-Zn-Pb), Picha (Cu-Ag-Pb-Zn), Oyo Oyo (Cu-Ag-Pb-Zn) and Tucari (Au), real-world proof that this district can, and does, host economic mineralisation across multiple metals.

Map 3 — Local Geology: A Large, Structurally Controlled Target

  • This map layers Patriot’s own 2025 field mapping over historical geological data from Teck and Buena Vista, meaning the same mineralised system has been independently mapped by experienced prior operators, not just the Company’s own team.
  • Phase 1 diamond drilling (8,500m) has tested the mapped mineralised system, delivering the Company’s first systematic, ground-truthed dataset across the Project.
  • Mapping has defined a central breccia unit (orange), the zone hosting
    mineralization, in direct contact with rhyolite (brown) to the west, giving geologists a clearly defined target to guide future drilling.
  • The mineralised footprint extends approximately 2.9km along strike and 0.95km in width, a scale defined by mapping, drilling, geochemistry and geophysics working together. Agreement across multiple independent datasets reduces geological uncertainty, and a strike length approaching 3km points to considerable scope for the resource to grow beyond what has been drilled to date.
  • Mineralisation is structurally controlled, primarily by the NW-SE trending Tassa Fault and its splays (blue dotted lines). Understanding what controls the mineralisation gives the team clear vectors to follow, supporting a systematic approach to growing the resource rather than a speculative one.

A Strategic & Proven Resource

An independent JORC 2012 compliant reported Mineral Resource Estimate (MRE) and Exploration Target completed by Geminas Advisory shows an initial maiden resource at Tassa confirming a large-scale epithermal system containing at least 25.5Moz of Silver at 42.73 g/t.1

 

Mineralisation starts from the surface and the Maiden MRE assumes open pit mining as the means for extraction. This marks an important milestone towards unlocking the full potential of this deposit as the next major phase of exploration ramps up.

ClassificationTonnes (Mt)AgEq (Moz)AgEq (g/t)Ag (Moz)Ag (g/t)Au (Moz)Au (g/t)Cut-off (g/t AgEq)
Inferred18.5331.3952.6825.4642.730.040.0625.00
Table 1. Maiden JORC (2012) Mineral Resource Estimation for the Tasso Project.

Target Growth Potential

The updated Exploration Target has been independently prepared and is underpinned by the first integrated interpretation of more than 20 years of geological (2026-2006), geochemical and geophysical data, comprising 1,832 surface samples, 8,500m of diamond drilling, ~36kms of IP geophysics and ~70km of magnetics lines, and all reconciled with the Company’s February 2026 Maiden Inferred Mineral
Resource Estimate.

  • Strong silver leverage: Includes 663Moz Ag – 479Moz Ag at 49-42 g/t, confirming a high-grade silver-dominant mineralisation from surface with full exposure to silver prices.
  • Extensive historical investment and data integration: Exploration Target underpinned by the first-ever integration of 20+ years of multi-source datasets into a single geological model.
  • High-quality dataset provides strong technical validation: Integrated dataset includes 1,832 surface samples, ~36kms of IP geophysics, ~70km of ground magnetics lines and 8,500m of diamond drilling, sourced from prior work by Teck (2019-2024), Bear Creek (2009-2019), and Buena Vista (2025), supporting a robust and independently validated geological framework.
  • Mineralisation validated at surface from 1,832 samples and over 2.9 km strike, ~1.0 km width and to ~550 m depth
ClassificationAgEq (Moz)Tonnes (Mt)AgEq (g/t)
Exploration Target774-559422-35957-48
Table 2. Exploration Target for the Tasso Project.
Grade (g/t)
MetalLowerUpper
Ag4249
Au0.040.05
Cu363427
Zn638750
Pb9821,156
Table 3: Grade ranges for elements in the Exploration Target

Cautionary Statement for Exploration Target

The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC code. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for the target areas reported. It is uncertain if further exploration will result in the estimation of a Mineral Resource.

 

3 – PAT ASX Announcement: Massive Exploration Target of 774-559 Moz AgEq at Tassa, 24 April 2026.

Model showing Mineralised polygons and Exploration Target strings.

Historical Tassa Drill Results

26 diamond drill holes for a total of 8,474.5m of historical drilling showing standout silver grades across wide intervals, including2

  • Drill hole T-04 returned 60m @ 224.20 g/t Silver from 24m (incl 16m @ 383.9 g/t Silver and 24m @ 291 g/t Silver)
  • Drill hole T-12 returned 4m @ 919.50 g/t Silver from 36m (incl. 2m @ 1,765 g/t)
  • Drill hole T-23 returned 37m @ 113.50g/t Silver from 154m (incl 8.7m @ 321.00 g/t)
  • Drill hole T-22 returned 16m @ 152.87 g/t Silver and 1.50g/t Gold (incl. 6m @2.55 g/t) from 102m
  • Drill hole T-17 returned 81.9m @ 0.41 g/t Gold (incl. 24m @ 0.80 g/t) from 332m
  • Drill hole T-21 returned 234m @ 0.25g/t Gold (incl. 114m @ 0.40 g/t) from 200m

Visual representation of boreholes on the topography of the Tassa project area.

1)   PAT ASX Announcement: 31.4Moz AgEq Maiden Mineral Resource at Tassa Project, 16 February, 2026

2)   SRK Consulting: S-K 1300 Technical Report Summary San Gabriel Project, General Sánchez Cerro Province, Peru – 31/12/2024

3)   PAT ASX Announcement: Massive Silver Exploration Target Upgrade at Tassa, 8 May 2026

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