Peregrine Gold has intersected significant visible gold in drill core at the Peninsula prospect within its Newman project in Western Australia.

While the significance of the find will have to wait on laboratory assays, visible gold is always a good thing to have when there’s a drill program about to kick off.

Peregrine Gold (ASX:PGD) had drilled two handheld holes adjacent to and beneath the visible gold observed at surface with one of the holes intersecting more visible gold within a quartz-ironstone breccia vein.

This is timely with the company poised to kick off reverse circulation drilling within days.

“It is very rare for a greenfield exploration program in WA to encounter mineralisation of this nature sitting undisturbed at surface,” technical director George Merhi said.

“In addition to being a very impressive demonstration of the high-grade potential of this system it also highlights just how underexplored the area is.

“Peninsula and the other Newman prospects due to be drilled have been uncovered as a result of systematic exploration over a small portion of our overall project area. In 2022 we have expanded this effort and look forward to updating the market on potentially new discoveries in this exciting district.”

Testing for gold

The upcoming drill program is scheduled to begin on 15 August and will focus on the Birdsnest, Tin Can and Peninsula prospects.

Peregrine noted that quartz vein at the Peninsula prospect as well the numerous gold-in-soil anomalies identified at the Peninsula prospect will be tested by the program.

This includes an auriferous quartz-ironstone rock where assays returned up to 55,171 parts per million (ppm) gold and 12,838ppm silver about 200m southwest of the intersected vein.

 

 

This article was developed in collaboration with Peregrine Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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