Peregrine flags abundant visible gold at Newman project
Link copied to
Diamond drilling at the Peninsula prospect of Peregrine Gold’s Newman gold project in WA has returned abundant visible gold in three drill holes.
The visible gold identified is 2 to 2.5 metres east of the auriferous part of the quartz vein where past announcements reported visible gold in cores from a handheld core drill.
“The maiden diamond drilling program at our Newman Gold Project has intersected significant visible gold mineralisation in three closely spaced holes,” Peregrine Gold (ASX:PGD) technical director George Merhi said.
“This work is a follow up to the visible gold observed in this quartz outcrop and gold observed in core from a handheld core drill.
“This is a fantastic result and supports the exploration model of tight spaced diamond drilling to explore this high-grade gold system.”
“Drilling continues further to the east of these drill holes to identify extensions to the gold mineralisation which will assist in continuing to develop the geological model for the area,” Merhi said.
“Drilling has yet to commence at the Birdsnest and Tin Can Prospects but will follow on after drilling is completed at the Peninsula Prospect.”
Five Auriferous core and rock samples from the Peninsula and Birdsnest prospects were submitted to CSIRO at Kensington, Perth for mineralogical study. The objective is primarily to understand the relationship between gold and silver mineralisation and whether the mineralisation is primary, secondary or both.
Laboratory assay times are expected to be approximately 3 months, with stream sediment sampling will also commence to follow-up past anomalous samples.
This article was developed in collaboration with Peregrine Gold Limited, 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.