Western Australia-based explorer Peregrine Gold (ASX:PGD) reports new assays have confirmed ‘exceptional’ gold and silver grades at the Newman Project.
The company says hole C, which is the third hole drilled at the Peninsula prospect, has returned 1,797g/t Au, and 374g/t Ag over 29m. This hole was drilled about 10cm below the original surface of the auriferous quartz-ironstone vein to a depth of 29cm.
Peregrine Technical Director George Merhi confirmed to Mining.com.au that the monstrous grades are indeed that high and follow similar grades encountered last year.
Peregrine reports this drillhole follows holes A and B which highlighted ‘abundant’ visible gold. It also notes these holes are now the focus of mineralogical and textural studies.
The company reports hole D was drilled 125m west of cores A, B, and C from surface to a depth of 40cm. A geochemical analysis of this hole demonstrated elevated rare earth elements (REEs) with results including 9.9 parts per million (ppm) of lanthanum (La), 91.2ppm cerium (Ce), 8.3ppm neodymium (Nd), and 2.4ppm praseodymium (Pr).
Peregrine notes a review of the REE geochemical results from the recently completed reverse circulation (RC) drilling program has highlighted that only La and Ce were analysed from the REE suite, and in order to properly assess the REE potential of the prospect, further RC drill samples will be undertaken.
Peregrine will report the results of a soil sampling program upstream of gold anomalous upstream drainage on tenement E52/3786 this month, as well as assays from rock samples recently collected in mid to late February.
Following this, the company will complete a trenching program over gold soil anomalies at the Peninsula and Birdsnest prospects to identify additional auriferous quartz veins, followed by a diamond drilling program at both prospects.
A geochemical review of all regional stream sediment samples collected at Newman since 2021 will also be completed, which will assess whether further work can move directly to soil sampling.
Peregrine Gold is an Australian gold and lithium exploration company focused on its projects in Western Australia. These projects include the Newman Gold in the Hammersley region, Pilgangoora North Lithium, and the Rocklea Project which was acquired through the company’s purchase of New Frontier Resources in August 2021.
Images: Peregrine Gold Ltd