RC drilling at Peregrine Gold’s Tin Can prospect has wrapped up
31 holes for 1,710m were carried out
Assay results are expected in the coming weeks
Special report: A 31-hole reverse circulation drilling program has concluded at the Tin Can prospect but Peregrine Gold maintains momentum in regional exploration.
Peregrine Gold’s (ASX:PGD) Tin Can prospect sits within the broader Newman Gold Project, just 70km from Capricorn Metals’ (ASX:CCM) producing Karlawinda mine.
Other than a trenching program over an epithermal occurrence by CRA Exploration in 1981, the project has had limited historical gold exploration.
PGD discovered the bedrock-hosted Tin Can gold deposit during a 2023 drill program, which pulled up stand out assays including 8.08m at 5.63 g/t gold from surface and 9.85m at 5.43 g/t gold.
That’s shallow, high grade, and reasonably thick – three things investors should look for when evaluating drilling results.
RC drilling concludes
The explorer has now wrapped up RC drilling at Tin Can after completing 31 holes for 1,710m over a period of four days.
The program was initially intended to extend mineralisation at Tin Can down plunge before moving on to drill along strike across the broader gold in soil anomaly.
A hanging wall talcose schist was consistently intercepted on the south side of the target zone and acted as a form of marker horizon.
This marker horizon was intersected during the RC drilling program in a similar position along strike several hundred metres to the west (Tin Can West) beneath a previous identified soil anomaly.
PGD believes the marker horizon is the source of the chrome anomalism with similarities in lithologies in both RC and diamond drilling providing encouragement.
Soil sampling boosts confidence
A past soil sampling program outlined a linear trend (nominally east west) defined by high chrome and nickel proximal to gold and arsenic anomalies.
Multi-element analysis of previous diamond drilling at Tin Can further supports the observed spatial association between gold, chrome and arsenic anomalism
What’s next?
The company has submitted 4m composites for lab assays with results due in the coming weeks.
Meanwhile, PGD is continuing to undertake regional reconnaissance exploration work.
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.
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