SIGNIFICANT GOLD ANOMALY FOUND IN RC DRILLING AT TIN CAN PROSPECT

High-Grade Gold Extends at Newman Gold Project

Peregrine Gold Limited (ASX: PGD) has identified significant gold anomalism at the Tin Can prospect during its recent reverse circulation (RC) drilling programme at the Newman Gold Project.

RC Drilling at Tin Can

The RC drilling programme at the Tin Can prospect consisted of 31 holes totalling 1,680 metres. Among the 458 four-metre composite samples analysed, significant intersections include:

  • 24KRC 2: 4 metres @ 1.43 g/t from 32 to 36 metres & 4 metres @ 10.42 g/t from 36 to 40 metres
  • 24KRC 12: 4 metres @ 10.82 g/t from 32 to 36 metres & 4 metres @ 4.72 g/t from 40 to 44 metres
  • 24KRC 14: 4 metres @ 11.35 g/t from 28 to 32 metres

Drill hole 24KRC 2 further confirmed and expanded the gold shoot structure, returning 8 metres @ 5.93 g/t Au from 32 to 40 metres. Historical results from 2022 also indicated promising mineralisation, such as:

  • 22KRC 85: 4 metres @ 2.14 g/t from 28 to 32 metres
  • 22KRC 86: 4 metres @ 0.41 g/t from 36 to 40 metres

These results suggest a potential second high-grade gold shoot structure approximately 15 metres beneath the main shoot. Additional drilling will verify this.

Technical Director of Peregrine, Mr. George Merhi, commented:

This follow-up reverse circulation drilling programme has been successful in extending the high-grade gold shoot at the Tin Can prospect and has most likely defined a second high-grade shoot. The technique of keeping the drilling tight spaced has been successful thus far and will continue until it is possible to ascertain with confidence the host rock to the gold mineralisation. Follow-up drilling will commence in several weeks with the objective of drilling into fresh rock and extending the main shoot to depth and ascertain the likely hood of a second pitching gold shoot structure.

Additional drilling will commence in the coming weeks to further explore these findings.

Read the full announcement

Read Previous

MARQUEE RESOURCES SECURES OPTION FOR SA PEDRA GOLD AND SILVER PROJECT

Read Next

WEST AFRICAN REPORTS HIGH-GRADE GOLD DISCOVERY AT M1S