Peregrine hole returns 1797g/t gold, 374g/t silver, and surprise rare earths
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Peregrine’s third core hole at the Peninsula prospect within its Newman gold project has returned an exceptional assay of 1,797g/t gold and 374g/t silver.
The result was returned from 0.29m intersection and follows up on abundant visible gold in the first two core holes, which were not split and analysed as they are the focus of mineralogical and textural studies.
It also follows on the eye-popping grades of up to 122,497g/t gold and 23,234g/t silver returned from rock chip sampling at the Birdsnest prospect within the same project.
While the result is certainly encouraging for the gold prospectivity of the Peninsula prospect, geochemical analysis of the core hole returned another prize for Peregrine Gold (ASX:PGD) – elevated levels of rare earth elements including anomalous grades of the valuable magnet REEs neodymium and praseodymium.
A follow-up review of REE geochemical results from the recently completed reverse circulation drilling program found that only lanthanum and cerium were analysed from the suite of 15 rare earth elements (17 if you count scandium and yttrium).
The company will now carry out additional analysis of the selected RC drill samples to properly assess the prospect’s REE potential.
However, gold remains very much the focus of its activities at the Newman project.
Peregrine is currently waiting on the results from soil samples collected upstream of gold anomalous drainage on E52/3786 as well as assays from recently collected rock samples.
It plans to carry out a trenching program over gold soil anomalies at the Peninsula and Birdsnest prospects to identify additional auriferous quartz veins and carry out shallow, closed-spaced diamond drilling.
A geochemical review of all regional stream sediment samples collected over the Newman Project since 2021 will also be carried out to assess whether detailed stream sediment sampling is required within gold anomalous catchments or whether further work can move directly to soil sampling.
This article was developed in collaboration with Peregrine Gold (ASX:PGD), 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.