- Peregrine Gold (PGD) identifies the Perry Creek gold prospect at its Pilbara gold project in WA
- Perry Creek has been discovered through soil sampling and the review of previous sampling work which returned up to 73 parts per billion gold
- This follows the discovery of the Birdsnest and Peninsula prospects, and Peregrine is encouraged to add another prospect to its portfolio
- Company shares are down 1.22 per cent to trade at 40.5 cents
Peregrine Gold (PGD) has identified a third gold prospect at its Pilbara gold project in Western Australia.
The prospect, dubbed the “Perry Creek” prospect, follows the discovery of the Birdsnest and Peninsula prospects.
Perry Creek is located within the Wyloo Group which is a geological setting that has a history of gold occurrences and mines.
Peregrine discovered the prospect through a mix of reconnaissance soil sampling to follow up on previous soil sampling work undertaken 15 years ago. The previous sampling program was conducted by Rosane and returned elevated gold values of 41 parts per billion (ppb) gold, 38ppb gold and 73ppb gold.
The company interpreted both the data sets which led to identifying an east to west gold-in-soil trend which spans approximately 500 metres long and 40 to 160 metres wide. To the north and south of the gold trend, two northeast gold soil trends are also present.
Peregrine plans to complete further infill soil sampling to define the gold-in-soil anomalism at Perry Creek.
The company was pleased to have identified a third gold prospect and found it a ‘promising addition’ to its portfolio. PGD plans to conduct reverse circulation drilling over the three prospects in the second quarter of next year.
Company shares were down 1.22 per cent to trade at 40.5 cents at market close.