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Peregrine Gold Ltd (ASX:PGD) has discovered a high-grade gold anomalism through drilling work at its Tin Can prospect in Western Australia, with this work also picking up intercepts grading up to 11.35 grams per tonne gold.
The company rolled out 1,680 metres of reverse circulation drilling at Tin Can – which is part of Peregrine’s wider Newman Gold Project – with this work extending the prospect’s high-grade gold shoot down plunge, as well as picking up evidence of another such structure.
Intercepts from the exploration have included four metres at 1.43 grams per tonne from 32 to 36 metres and four metres at 10.42 grams per tonne from 36 to 40 metres in one hole; and four metres at 11.35 grams per tonne from 28 to 32 metres in another.
Peregrine first reported the discovery of a high-grade gold shoot at Tin Can in October last year, through diamond drilling in which three holes yielded mineralisation including four metres composite gold grading 10.82, 4.72 and 11.35 grams per tonne respectively.
As well as confirming the down plunge extension of this shoot through the recent drilling, its extended shoot structure is also broader, according to the longitudinal section.
Peregrine’s technical director George Merhi said this extension was a major achievement for the company.
“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,” he said.
“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 likelihood of a second pitching gold shoot structure.”
Peregrine Gold has been trading at 21 cents.
