Patriot Resources Limited (ASX: PAT) has strengthened its strategic footprint in Zambia’s highly prospective Mumbwa district through the acquisition of an 80% interest in the Mirkal (32052HQ-LEL) and Chimban (33587HQ-LEL) Large Scale Exploration Licences.
The transaction delivers an immediate uplift in project ownership and consolidates Patriot’s landholding across a region known for producing significant copper mineralisation. The new structure mirrors the Company’s existing ownership of the adjacent Kitumba Project (80% PAT), supporting a unified district-scale exploration strategy.
Under the renegotiated terms—completed with no cash consideration—Patriot has secured its 80% interests on a 20% free-carried basis, while relinquishing rights to the CBR Worldwide Licence (33585-HQ-LEL). This significantly enhances capital efficiency and preserves funds for on-ground exploration.
Strategic Importance of the Mumbwa Hub
Patriot’s 80%-owned Kitumba licence, which shares a boundary with Chimban, has delivered strong recent exploration results, including the commencement of ground magnetics and IP surveys.
Geological interpretation highlights NE–SW structural trends transecting both licences—structures considered highly prospective for copper and associated mineralisation.
Recent trench channel sampling at Target B1 (Kitumba) identified a 200m-long NE–SW shear zone hosting Cu-Zn-Pb, open along strike and believed to form part of a broader structural network linking the licences.
Patriot’s field team is now undertaking targeted exploration to assess these newly consolidated areas and refine drilling priorities.
Executive Chairman Hugh Warner commented:
“The consolidation of our land position in the highly prospective Mumbwa district represents an excellent outcome for Patriot and our shareholders. By securing an 80% interest in both the Mirkal and Chimban licences on a 20% free-carry basis and without any cash consideration, we have strengthened our ownership structure while preserving capital for exploration.”
Next Steps
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Integration of Mirkal and Chimban data into the district-scale geological model
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Ongoing interpretation of ground magnetics and IP survey results at Kitumba
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Target generation across the expanded tenure, focusing on NE–SW structural corridors
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Prioritisation of drill-ready targets for upcoming field campaigns
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.
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Website: www.patriotresources.com.au
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Twitter: @Patriot_ASX