Peregrine returns ultra-high gold and silver from Birdsnest costeans; more visible gold find at Peninsula

Costean and rock sampling at the Newman Project has returned more exceptional gold and silver grades for owner Peregrine Gold (ASX:PGD).

A costean and rock sampling programme has been completed over significant gold in soil anomalies at both the Peninsula and Birdsnest prospects to identify additional auriferous quartz-ironstone vein prior to drilling.

Results from the program have returned exceptional gold and silver grades.

Birdsnest Prospect

At Birdsnest, a total of 12 rock samples were collected during the costean programme.

Eight of the rock samples returned exceptionally high gold grades ranging from 170g/t Au to 122,497g/t Au and silver grades from 26g/t Ag to 26,234g/t Ag.

As reported in November, the costean programme at Birdsnest was centred around historical rock samples reported in 2021, which returned gold and silver grades ranging from 11,192g/t Au to 32,584g/t Au and 1,954g/t Ag to 12,551g/t Ag.

“Our work at the Newman Project continues to identify ultra-high-grade gold and silver mineralisation,” says George Merhi, Peregrine’s technical director.

“This costean programme conducted after the RC drilling has provided valuable information on the orientation of the mineralisation in 2D.

“This style of mineralisation now requires precise surgical diamond drilling to resolve continuity in 3D or down plunge.”

Peninsula Prospect

Meanwhile at the Peninsula Prospect, a total of eight rock samples were also collected where visible gold was observed in an approximately 5m thick northwest trending quartz-ironstone vein.

This vein was core drilled at the location where visible gold was observed earlier in August.

Due to the hard blocky nature of this quartz-ironstone vein, channel sampling across the vein was not possible hence random rock samples were collected within the vein.

The rock sampling has now identified significant gold anomalism over a strike length of approximately 18m.

Results include:

22KR 80 : 145g/t Au and 9g/t Ag

22KR 81 : 247g/t Au and 62g/t Ag

22KR 83 : 85g/t Au and 0.7g/t Ag

22KR 84 : 47g/t Au and 0.5g/t Ag

Rock samples 22KR 80 and 81 were collected in the immediate vicinity of the quartz-ironstone vein where visible gold was observed.

These two random samples did not contain any visible gold, but were chosen to assess whether disseminated gold is present within the quartz- ironstone vein.

“Additional costeans will now also be cut at Peninsula as we prepare for diamond drilling in Q1 23,” said Merhi.

What’s next?

Follow-up work will include additional rock sampling of the auriferous quartz-ironstone vein at the Peninsula Prospect, as well as a costean programme over anomalous soil sample sites at both the Peninsula and Birdsnest Prospects.

Targeted diamond drilling is also planned immediately beneath the auriferous quartz-ironstone veins at both the Peninsula and Birdsnest Prospects.

These work programmes will be implemented in Q1 2023.

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