Paladin Energy Ltd (ASX: PDN, TSX: PDN, OTCQX: PALAF) has released new drilling results from the Patterson Lake South Project in Saskatchewan, Canada. The update covers three separate target areas across the broader Project footprint.
The Company’s Paladin Energy high-grade uranium results confirm continued expansion at Atlas, Saloon East and the Triple R deposit. Management says the findings support Paladin’s disciplined approach within the uranium sector.
What The Drilling Found At Atlas
Paladin’s find is about 3.5 kilometres south of the Triple R deposit. In total, 25 drillholes for 8,755.4 metres have been completed there to date.
The highlight intersection was from hole PLS26-782 with a total composite mineralisation of 42.1m. This included 26.4m at 0.7% eU3O8 and 12.5m at 1.8% eU3O8, the highest grade-thickness result at Atlas to date.
Figure 1: Overview of Atlas, R1515W and Saloon East drill areas [Courtesy: Paladin Energy]
Table 1: Atlas Zone Standout Drill Results
| Hole ID | Interval (m) | Grade (eU₃O₈ %) | Grade Thickness (%.m) |
|---|---|---|---|
| PLS26-782 | 42.1 | 0.7 to 1.8 | 43.0 |
| PLS26-762A | 13.0 | 3.0 to 4.7 | 15.0 |
| PLS26-773 | 21.6 | 1.1 to 1.2 | 11.8 |
| PLS26-757 | 2.3 | 1.2 | 2.7 |
A step-out hole 270 metres northeast of the main Atlas area also returned mineralisation. This points to a larger system than previously mapped, according to the announcement.
Triple R Resource Extension Shows New Zones
Paladin’s 2026 drilling programme at R1515W targeted extensions beyond the current Triple R Mineral Resource. Twenty drillholes totalling 6,250.5 metres have been finished so far.
Hole PLS26-779 intersected a new mineralised zone approximately 100 metres east of the existing resource boundary. It returned 12.7m of total composite mineralisation including 3.4m grading 0.7% eU₃O₈.
Figure 2: Plan view of R1515W drilling activity for 2026 [Courtesy: Paladin Energy]
Table 2: R1515W Resource Expansion Highlights
| Hole ID | Interval (m) | Grade (eU₃O₈ %) | Grade Thickness (%.m) |
|---|---|---|---|
| PLS26-751 | 19.3 | 0.5 | 6.5 |
| PLS26-756 | 21.5 | 0.5 | 7.3 |
| PLS26-779 | 12.7 | 0.7 | 4.1 |
| PLS26-784 | 3.8 | 1.8 | 4.8 |
Paladin says the mineralisation remains open along strike and at depth. This keeps the western end of the Triple R corridor firmly in play for future drilling.
Saloon East Discovery Keeps Expanding
Saloon East lies roughly 3.5 kilometres southeast of Triple R and was first discovered in August 2024. Twenty-eight drillholes have now been completed across the target.
Recent results include 19.7m of total composite mineralisation in hole PLS26-729, grading 0.1% eU₃O₈. The Company describes the zone as a promising emerging discovery within the uranium sector.
Figure 3: Saloon East drill hole locations for the 2026 programme [Courtesy: Paladin Energy]
Table 3: Saloon East 2026 Drill Highlights
| Hole ID | Interval (m) | Grade (eU₃O₈ %) |
|---|---|---|
| PLS26-729 | 19.7 | 0.1 |
| PLS26-719 | 14.0 | 0.1 |
| PLS26-727 | 8.1 | 0.1 |
Mineralisation at Saloon East remains open in both directions. Management expects further drilling to extend the footprint through the remainder of the programme.
What Paladin’s Leadership Had To Say
Paladin MD and CEO Paul Hemburrow linked the Atlas and Saloon East results directly to strategy. He called Atlas a significant result building on the 2025 Saloon East discovery.
Hemburrow said both zones sit in the Saloon Trend, running broadly parallel to Triple R. He pointed to continued drilling as the path to lifting resource confidence and mine life at PLS.
Industry Outlook For The Uranium Sector
Demand for uranium is still high. More governments are looking at nuclear power because it can provide steady power with lower carbon emissions. New reactors are going up in several places. Older plants are also being kept in service for longer than before. Because of this, power companies want to lock in uranium supplies for years ahead.
Paladin’s dual exposure, through the operating Langer Heinrich Mine and the developing PLS Project, positions the Company across both production and growth within the uranium sector.
Paladin Energy Share Price (ASX: PDN)
- Last traded price: A$11.180
- Market capitalisation: A$5.21 billion
- 52-week range: A$7.450 to A$15.100
Figure 4: Paladin Energy (ASX: PDN) share price trend over the past twelve months [Courtesy: ASX]
You can review Paladin’s full exchange announcements for further detail on the Company’s PLS Project pipeline. Investors can also track ongoing progress through ASX-listed company updates for real-time filings. For broader coverage of exploration news, Colitco’s mining sector news page tracks similar announcements from ASX-listed producers.
Future Direction and Impact on Paladin’s Resource Growth
Impact on Paladin’s resource base: continued drilling at Atlas, Saloon East and R1515W could materially expand the Triple R Mineral Resource and extend mine life at PLS.
According to the announcement, all three zones remain open for further mineralisation. Paladin plans to continue its extensive drilling programme to convert these discoveries into future development targets.
The Company’s approach, splitting drilling into resource extension, prospect delineation and regional exploration, gives it multiple growth paths at once. Further updates are expected as the 2026 programme continues.
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FAQ
Q1. What did Paladin Energy report in its latest PLS Project update?
Ans. New high-grade uranium drilling results across Atlas, Saloon East and the Triple R resource extension zone.
Q2. Where is the PLS Project located?
Ans. At Patterson Lake South in the Athabasca Basin region of Saskatchewan, Canada.
Q3. What was the standout drill result in this update?
Ans. Hole PLS26-782 at Atlas, with 42.1m of mineralisation and a grade thickness of 43.0 eU₃O₈ % m.
Q4. Are these uranium grades confirmed by laboratory assay?
Ans. No, values are preliminary estimates from calibrated gamma probe measurements, not yet chemically assay-verified.
Disclaimer
This article is meant only for informational purposes. All data published in this content is sourced from Paladin Energy’s official ASX announcement dated 2 September 2026. Kindly verify all information related to share price and market data before making any decisions. Any investment should be made at the investor’s own risk. Colitco does not hold any position in the above-mentioned Company.
Elizabeth Jones is a finance and mining content specialist with over 10 years of experience creating clear, SEO-driven content across fintech, investing, banking, insurance, cryptocurrency, and resource markets. She transforms complex financial data and industry trends into engaging, reader-focused articles that improve understanding and audience engagement.
