Join our daily newsletter At The Bell to receive exclusive market insights
- Peregrine Gold (PGD) records “ultra-high-grade” gold from sampling at its Newman project in Western Australia
- A costean and rock sampling program was completed across the Birdsnest and Peninsula prospects and returned up to 122,497 grams per tonne (g/t) gold and 26,234 g/t silver
- PGD says the project continues to identify both high-grade gold and silver, with the latest program providing “valuable” information on the orientation of the mineralisation
- Additional costean and rock sampling work is planned ahead of diamond drilling beneath the quartz-ironstone veins at both prospects in the first quarter of 2023
- Shares in PGD were up 23.7 per cent trading at 36.5 cents at 2:20pm AEDT
Peregrine Gold (PGD) has recorded “ultra-high-grade” gold from sampling at its Newman project in Western Australia.
The company carried out a costean and rock sampling program across both the Birdsnest and Peninsula prospects which returned gold grades up to 122,497 grams per tonne (g/t) gold and up to 26,234 g/t silver.
Twelve rock samples were collected in the costean program at Birdsnest with eight of the samples returning gold grades of between 170 g/t and 122,497 g/t, as well as between 26 and 26,234 g/t silver.
The work at Birdsnest was centred around historical rock samples that ranged between 11,193 and 32,584 g/t gold and between 1,954 and 12,551 g/t silver.
Meanwhile, eight rock samples taken from Peninsula revealed visible gold in a five-metre thick northwest trending quartz-ironstone vein.
The company said the vein was “hard” and “blocky” in nature, meaning channel sampling was not possible across the vein and only random samples were collected.
Grades from the samples ranged from 47 to 247 g/t and 0.5 to nine g/t silver.
Overall, the rock sampling program at Peregrine has identified gold anomalism over a strike length of 18 metres.
Peregrine’s Technical Director, George Merhi, said the project continues to identify both high-grade gold and silver, and has provided the company “valuable information” on the orientation of the mineralisation.
Moving forward, the company has planned additional rock sampling of the quartz-ironstone vein at Peninsula, plus a costean program over anomalous soil sample sites at both prospects.
This work is planned for the first quarter of the new year when diamond drilling beneath the quartz-ironstone veins at both prospects is also scheduled.
Shares in PGD were up 23.7 per cent trading at 36.5 cents at 2:20pm AEDT.
