The Epithermal prospect continues to rise in importance for Peregrine. Pic: Getty Images
Peregrine Gold upgrades prospectivity of its Epithermal prospect
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- Peregrine Gold’s work has enhanced the potential of the Epithermal prospect to host mineralisation at depth
- Mapping and sampling has revealed abundant classic epithermal texture and anomalous geochemistry
- Company to carry out IP surveying to refine drill targeting of quartz veins and breccia zones
Special Report: Peregrine Gold’s recent geological mapping, sampling and relogging of last year’s diamond drilling significantly improved the prospectivity of the Epithermal prospect within its Newman gold project to host mineralisation at depth.
The detailed mapping and sampling at the prospect revealed abundant classic epithermal texture and anomalous geochemistry while identifying a base metal rich vein set cluster in a 500m by 150m area within a larger 1000m by 300m zone containing most of the epithermal vein sets.
Rock chip sampling within the Epithermal prospect, which was first identified by CRA Exploration in 1981 and followed up by MIM in 1994-95 as part of a broader regional programme but was never drilled, had returned maximum values of 0.73g/t gold, 37.3g/t silver, 2.49% lead and 0.074% zinc.
Peregrine Gold (ASX:PGD) adds that potential zonation within the prospect is supported by both mapping and interrogation of the geochemical database.
Together, the recent work suggests that drilling in 2023 failed to test the breccia and epithermal quartz zones.
“Recent detailed geological mapping, rock chip sampling, re-logging plus additional sampling of drill core from last year combined with a comprehensive review of detailed airborne magnetic imagery has given us a big lift in confidence as to the prospectivity of Epithermal,” technical director George Merhi said.
“Prior to a comprehensive reverse circulation drilling program we are planning an IP survey to pinpoint targets in what we now know is a much larger system.”
Newman project
Mark-Creasy backed PGD recently completed the second phase of reverse circulation drilling at the Tin Can prospect within the same Newman project, which continued to demonstrate the presence of the hanging wall talcose schist unit – the host of gold mineralisation identified to date.
Newman itself consists of eight granted exploration licences and nine applications that cover 1849km2 of ground in WA’s prolific Pilbara region.
The predominately greenfields tenements have historically been underexplored despite being prospective for gold or have been explored for other metals such as iron.
Next steps
PGD will now plan and carry out an induced polarisation survey at the Epithermal prospect.
This will be followed by a comprehensive integrated review of geochemistry, mapping and IP data to resolve the high priority drill targets.
Other work at the prospect includes heritage surveys of the proposed drill site and access before RC drilling is conducted.
More broadly, the company is awaiting results from drilling at the Tin Can prospect as well as regional geochemical reconnaissance.
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.
