Peregrine Gold flags potential second gold shoot at Tin Can prospect

Peregrine Gold drilling at Tin Can prospect returns high-grade gold anomalism
Drilling has extended the high-grade gold shoot down plunge
Additional drilling planned at the prospect

Special Report: Peregrine Gold has identified a gold anomalism in RC drilling at the Tin Can prospect at its Newman gold project in WA.

The company drilled 31 holes for a total of 1,680 metres, with notable intercepts including:

4 metres at 1.43 g/t from 32 to 36 metres (24KRC 2)
4 metres at 10.42 g/t from 36 to 40 metres (24KRC 2)
4 metres at 0.40 g/t from 28 to 32 metres (24KRC 11)
4 metres at 10.82 g/t from 32 to 36 metres (24KRC 11)
4 metres at 0.50 g/t from 36 to 40 metres (24KRC 12)
4 metres at 4.72 g/t from 40 to 44 metres (24KRC 12)
4 metres at 0.81 g/t from 56 to 60 metres (24KRC 12); and,
4 metres at 11.35 g/t from 28 to 32 metres (24KRC 14).

The program also confirmed the down plunge extension of the gold shoot structure identified and reported during a 2023 diamond drilling program.

Specifically, drill holes 24KRC 11, 12 and 14 returned four metres composite gold results of 10.82 g/t, 4.72 g/t and 11.35 g/t respectively and also extended the shoot 35m down plunge.

Second high-grade gold shoot

In addition, 24KRC 2 returned 8m at 5.93 g/t Au from 32 to 40 metres and may confirm the presence of a second high grade gold shoot structure approximately 15m beneath the main gold shoot.

This possible second shoot structure may be an offshoot from the main shoot structure, or a standalone shoot – with the company planning additional drilling to confirm this.

“This follow up reverse circulation drilling program has been successful in extending the high-grade gold shoot at the Tin Can prospect and has most likely defined a second high-grade shoot,” Peregrine Gold (ASX:PGD) technical director George Merhi said.

“The technique of keeping the drilling tight spaced has been successful thus far and will continue until it is possible to ascertain with confidence the host rock to the gold mineralisation.

“Follow up drilling will commence in several weeks with the objective of drilling into fresh rock and extending the main shoot to depth and ascertain the likely hood of a second pitching gold shoot structure.”

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.