PGD increases Newman prospect gold count up to 5 with discovery of Kangaroo

Peregrine Gold’s sampling has uncovered a new gold prospect at its Newman project in WA
The new Kangaroo prospect was identified by numerous stream sediment samples topping up at 4.9g/t gold
Additional reconnaissance stream sediment sampling is continuing over tenement E52/3570

Special Report: Peregrine Gold’s reconnaissance stream sediment and soil sampling program at its Newman project in WA has uncovered the new Kangaroo gold prospect.

Kangaroo is about 10km east of the Peninsula prospect and was identified by numerous stream sediment samples of more than 1g/t gold with a maximum of 4.9g/t gold.

Mark Creasy-backed Peregrine Gold (ASX:PGD) followed up the stream samples with soil sampling along north-south lines, which in turn returned a maximum gold in soil response of 7.7g/t gold.

The prospect is located over an antiformal fold structure and hosted in basaltic lithologies with interflow siliceous sediments and quartz veining.

“The Kangaroo prospect adds another prospect to the four prospects already identified within the Newman gold project,” technical director George Merhi said.

“Additional reconnaissance stream sediment sampling will continue over E52/3570 as well as other tenements acquired from FMG.”

Newman gold project prospects. Pic: Peregrine Gold

The next great gold camp?

Newman is 70km from Capricorn Metals’ (ASX:CMM) Karlawinda gold mining operation.

Following an initial drilling program in 2022 at several prospects, PGD made its first bedrock gold discovery at the Tin Can prospect in 2023 with close-spaced diamond drilling assisting in resolving the structurally complex but very rich gold mineralisation.

More recently, analysis of assays from Phase 1 drilling at Tin Can at 1m intervals returned results such as 9m at 4.74 g/t gold from 33 to 42m and 6m at 4.28 g/t gold from 19 to 25m.

Assays are currently pending from the Phase 2 program of 48 holes totalling 3516m.

Recent work has also upgraded the prospectivity of the Epithermal prospect with mapping and sampling revealed abundant classic epithermal texture and anomalous geochemistry.

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.