Peregrine starting Pilbara IP investigation over Newman gold prospects

• Peregrine Gold kicks off gradient array and dipole-dipole IP surveys over the Epithermal and Birdsnest prospects at the Newman gold project
• Greenfield exploration previously returned ludicrously high-grade surface samples at Birdsnest
• Pilbara exploration heating up to find the next Hemi

Special Report: Peregrine Gold is beginning induced polarisation surveys to firm up two high-profile prospects for the drill at its Newman gold project in the Pilbara.

A gradient array IP investigation will begin shortly, followed by a dipole-dipole survey to refine geophysical targets lying next to the bounding contact of two highly prospective gold zones at the fully owned Peregrine Gold (ASX:PGD) project.

Watch: A unique deal with a legendary prospector

The Birdsnest prospect had seen only a little regional exploration before Peregrine acquired its host tenement in 2020, and its own work next to historic grabs returned ludicrously high grade samples of 122,497g/t gold and 23,234g/t silver.

The Epithermal prospect was likewise first found by another company, but PGD itself established the magmatic origins of the epithermal system and that more work was needed to investigate the source of the systems seen at surface.

“With our eyes focused on future drilling at the Epithermal and Birdsnest prospects, the completion of these surveys will provide valuable geological information to assist with generating and refining potential future drill targets,” Peregrine technical director George Merhi said.

“The company will continue to build momentum at the Newman Gold Project with further exploration activity to be announced shortly.”

Watch: Guy Le Page digs into some impressive Newman numbers back in November

Giant Pilbara prey

Merhi noted that the style of mineralisation at Birdnest would require a surgical level of diamond drilling to resolve continuity in 3D or down plunge, but record gold prices make it an obvious step to follow up the high grade rock chips found in previous greenfields exploration.

And the Pilbara is running hot with Northern Star’s looming takeover of De Grey Mining shining a light back on the region’s gold scene.

The region’s prospectivity is hardly news to Peregrine, which always kept its eye on gold and the Newman project through the heights of the battery metals boom.

The company has other prospects to explore beyond Birdseye and Epithermal, and also has an interest in Capricorn Metals (ASX:CMM) after selling its Deadman Flat and Perry Creek projects to the ASX 200 gold miner in a $1.5m share deal. CMM shares have lifted ~6% since the deal was struck.

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.