Drilling will focus on the Peninsula, Birdsnest and Tin Can prospects within the wider Newman Gold Project, a stone’s throw away from Capricorn Metal’s (ASX:CMM) Karlawinda Gold Project.
Peregrine (ASX:PGD) technical director George Merhi says this is an exciting stage for the company.
“Our initial goal is to test three prospects generated in our 2020/2021 field season.
“This will provide valuable geochemical information to further our understanding of this emerging discovery.
“We look forward to updating shareholders in due course on both the drilling program at these prospects and our ongoing regional exploration.”
RC drill program
The 5,000m reverse circulation (RC) drilling program is expected to take about eight weeks and will pay particular attention to the auriferous quartz vein, previously identified at Peninsula.
Earlier this month PGD intersected significant visible gold in two handheld auger holes adjacent to and beneath the visible observed at surface with one of the holes intersecting more visible gold within a quartz-ironstone breccia vein.
It is very rare for a greenfield exploration program in WA to encounter mineralisation of this nature sitting undisturbed at surface and highlights just how underexplored the area is.
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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.