Peregrine Gold to start follow-up drilling at the Tin Can gold discovery
Initial drilling will extend mineralisation down plunge before testing along strike across the broader gold in soil anomaly
Comprehensive sampling underway over new tenements
Special Report: Peregrine Gold is poised to kick off drilling at the high priority Tin Can gold discovery, part of its Newman project in WA’s Pilbara region.
The 1000km2 Newman project is just 70km from Capricorn Metals’ (ASX:CMM) producing Karlawinda mine.
However, this project area is in a part of the Pilbara which has had limited or no historical gold exploration in the past, other than a trenching program over an epithermal occurrence by CRA Exploration in 1981.
Peregrine Gold (ASX:PGD) – backed by legendary prospector Mark Creasy — had to explore the project from scratch in an area with limited outcrop, no old workings and no past drilling for gold in order to identify drill targets.
It took two years of systematic exploration by the company within its dominant tenement holding to reveal numerous high-order gold anomalies in streams, soils and rock samples.
This led to a successful 2023 drill program which discovered the bedrock-hosted Tin Can gold deposit.
Notable assays from PGD drilling in October 2023 include:
8.08m at 5.63g/t gold from surface;
9.85m at 5.43g/t gold from 3.65m; and
6m @ 11.54 g/t gold from 9m.
That’s shallow, high grade, and reasonably thick – three things investors should look for when evaluating drilling results.
RC drill rig on site. Pic: Peregrine Gold
Drilling to extend Tin Can
The new drill program is designed to initially extend the mineralisation at Tin Can down plunge before moving on to drill along strike across the broader gold in soil anomaly.
PGD is also carrying out comprehensive reconnaissance sampling over tenements it acquired in January this year with 147 stream sediment samples taken to date.
These samples will provide data on the surrounding drainage basins and are expected to lead to future discoveries to complement Tin Can.
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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