Peregrine Gold expands Tin Can gold strike to 850m at Newman project

• Air core drilling extends Tin Can prospect to 850m of strike
• System consists of multiple sub parallel gold zones up to 240m wide
• Next round of drilling already underway, targeting fresh, high-grade mineralisation

Special Report: Preliminary assay results from air core drilling at the Newman gold project’s Tin Can prospect in WA have extended the gold trend to 850m of strike.

Peregrine Gold (ASX:PGD) is planning a follow-up reverse circulation drilling program at Tin Can, targeting fresh mineralisation and higher-grade zones of gold in the Pilbara region.

The air core program revealed Tin Can sits in multiple coherent, sub-parallel gold zones, cumulatively up to 240m wide – they shallowly dip to the south while plunging to the south-east.

Peregrine Gold technical director George Merhi said air core drill testing had proved an effective early-stage tool to increase the company’s geological understanding and the gold footprint at Tin Can.

“Following these encouraging results, additional work is already planned to refine targets toward the higher-grade gold zones and other areas of geological interest, in what is proving to be a fertile area of increasing scale,” he said.

“We look forward to providing further updates at the Tin Can Prospect and broader Newman project as well as commencing our inaugural drill campaign at Mallina as soon as practically possible.”

Multiple exploration streams

Peregrine will now process more than 600 one-metre drilling samples from the air core program and integrate the results to finalise and improve the geological model for Tin Can.

The company will also fly a drone magnetic survey over the prospect, with the goal of improving the resolution of current magnetic imagery data and tightening up PGD’s modelling.

That model will then aid Peregrine in targeting zones of higher-grade gold and in determining the nature and grade of the mineralised body for follow-up drill testing.

In parallel, PGD is also processing samples from a 28-hole air core program drilled at the Epithermal prospect at Newman.

The 28-hole program drilled down to about 39m for a total of 1091m – and PGD is eagerly awaiting the results.

Peregrine is also meanwhile advancing toward a drilling program at the Mallina project, operating in the same Pilbara geological setting as Newman.

The company has begun a heritage survey to clear the way for a maiden air core drilling campaign, targeting several priority zones for an intrusion-hosted ‘Hemi’ style orogenic gold deposit.

Of notable interest to PGD is Northern Star Resources’ (ASX:NST) Hemi gold project, which holds a mineral resource of 11.2 million ounces and ore reserves of 6Moz of gold. 

NST is developing it as a low-cost, simple open pit operation with high potential to transition into an underground operation or expand into a regional gold camp.

PGD hopes to find a similarly large, low-cost gold deposit within the Mallina project, which sits about 120km to the northeast within the same Mallina Formation geological structure as Hemi.

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.