EXPLORATION EFFORTS RAMP UP AT NEWMAN GOLD PROJECT

Peregrine Gold Limited Launches Field Activities for Gold Prospecting

Peregrine Gold Limited (ASX: PGD) announces the 2024 commencement of field exploration at its flagship Newman Gold Project. Technical Director George Merhi and his team are leading the efforts, which include a variety of geological and surveying activities aimed at expanding the company’s understanding of the project’s potential.

The exploration activities for this year at Newman are set to include vehicle and helicopter-based stream sediment sampling across recently acquired tenures from FMG and DCX, close-spaced RC drilling at the Tin Can Prospect along strike and down plunge, and additional RC drilling to test gold in soil anomalism along strike from the same prospect. Prospect scale geological mapping at the “Epithermal” prospect and heritage surveys, along with drilling at the “Perry Creek” gold in soil anomaly, are also planned.

Newman Gold Project is strategically positioned over 1,000 km² in the highly prospective Sylvania inlier, just 70km from the active Karlawinda Project operated by Capricorn Metals Ltd (ASX: CMM) with a market capitalisation of approximately A$1.86B as of 24 April 2024. Peregrine holds the dominant position in the tenement of the northern portion of the Sylvania inlier, where the presence of Fortescue lithologies is inferred.

The recent field seasons have marked the beginning of the first modern systematic exploration programme in this part of the inlier, uncovering numerous high order gold anomalies in streams, soils, and rock samples. Notable results from these explorations include:

  • 8.08 metres @ 5.63 g/t Au from 0 to 8.08 metres (23KD 83)
  • 9.85 metres @ 5.43 g/t Au from 3.65 to 13.5 metres (23KD 84)
  • 9.80 metres @ 3.62 g/t Au from 6 to 15.8 metres (23KD 90)
  • 6.00 metres @ 11.54 g/t Au from 9 to 15 metres (23KD 92)
  • 2.00 metres @ 9.90 g/t Au from 13.57 to 15.57 metres (23KD 93)

Mr. George Merhi provided insight into the current operations:

Although it has been a late start to the 2024 field campaign due to heavy rains in January and March 2024, we are delighted to be on site undertaking reconnaissance surface geochemical sampling over our recent tenement acquisitions. A drill rig has been secured for RC drilling at the Tin Can prospect in early May, and geological mapping of the epithermal prospect will also begin in early May.

Read the full announcement

Goldman

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