Join our daily newsletter At The Bell to receive exclusive market insights
- Peregrine Gold (PGD) commences a reverse circulation (RC) drilling campaign at the Newman Gold project in Western Australia
- The five kilometre drilling program will focus on the Peninsula, Birdsnest and Tin Can prospects
- The company is expecting the program to take up to eight weeks to complete
- Technical Director George Merhi calls the commencement an “exciting stage” for the company
- Shares in Peregrine Gold are down 5.62 per cent, trading at 84 cents as of 3:25 pm
Peregrine Gold (PGD) has commenced a reverse circulation (RC) drilling campaign at the Newman Gold project in Western Australia.
The five kilometre drilling program will focus on the Peninsula, Birdsnest and Tin Can prospects, with particular attention on the auriferous quartz vein previously identified at the Peninsula prospect.
The company is expecting the program to take up to eight weeks to complete.
Technical Director George Merhi called the commencement an “exciting stage” for the company.
“Our initial goal is to test three prospects generated in our 2020/2021 field season,” he said.
“This will provide valuable geochemical information to further our understanding of this emerging discovery.”
“We look forward to updating shareholders in due course on both the drilling program at these prospects and our ongoing regional exploration.”
The project, formerly known as the Pilbara gold project, consists of 12 granted exploration licences and eight applications covering 1894 square kilometres on the Sylvania Inlier in the southwest of the Pilbara.
Shares in Peregrine Gold were down 5.62 per cent, trading at 84 cents as of 3:25 pm AEST.
