Peregrine Gold Limited (ASX:PGD) New high grade gold zone identified
25 September 2024
Price Sensitive Announcement $
Highlights:
- Reverse circulation drilling on Tin Can trend identifies a new high grade gold zone “Tin Can West” located 250m west of Tin Can
- Initial discovery hole returns 4m at 9.0g/t Au providing further confidence to the prospectivity of the Tin Can gold trend
- High grade gold mineralisation continues to be delineated down dip at Tin Can with 8m @ 8.33g/t Au & 8m @ 6.53g/t Au
Overview:
Peregrine Gold Limited has announced results from its second phase of Reverse Circulation (RC) drilling at the Tin Can Prospect at the Newman Gold Project.
Tin Can
Results from phase two RC drilling at Tin Can (48 holes for 3,516 metres) completed on 24th July 2024 has returned significant gold mineralisation (Figure 2). Drill hole depths ranged from
24 to 102 metres and is still within the weathered zone. A total of 955 four metre composite samples including duplicates, standards and blanks were submitted for gold and multi-element
analysis.
Significant results include:
24KRC-76 8 metres @ 8.33 g/t Au from 56 to 64 metres
24KRC-70 8 metres @ 6.53 g/t Au from 48 to 56 metres
24KRC-68 4 metres @ 3.25 g/t Au from 40 to 44 metres
24KRC-61 4 metres @ 1.76 g/t Au from 32 to 36 metres
24KRC-69 4 metres @ 1.15 g/t Au from 44 to 48 metres
Tin Can West
The Tin Can West prospect located 250 metres west-northwest of the Tin Can prospect was tested with only three drill holes (24KRC-79 to 81) in addition to the two holes drilled during phase one RC (24KRC-26 & 28) (Figure 2).
Significant results include:
24KRC-81 4 metres @ 9.0 g/t Au from 12 to 16 metres
24KRC-28 4 metres @ 0.57 g/t Au from 4 to 8 metres
Hole 24KRC-81 was drilled along strike and to the east of 24KRC-28 indicating a pitching structure similar to that observed at Tin Can. Most encouraging is the intersection in 24KRC81 was drill into a soil anomaly of just 50ppb Au which highlights the subtlety of the anomalism in the soils. There are clear follow-up holes as this mineralisation is open laterally and down
dip
Full ASX Announcement: 6A1227055.pdf (discoveryalert.com.au)