- Peregrine Gold (PGD) identifies intrusive “Hemi-style” targets within the Mallina project in Western Australia
- PGD completed a geophysical survey earlier this year which was interpreted by Fathom Geophysics who identified up to 84 intrusive features with similarities to De Grey Mining’s Hemi deposit
- In addition, a review of historical geological reports and relogging of drill core showed potential for nickel-copper-PGE mineralisation
- Peregrine Gold plans to follow up these findings with drilling and further survey work
- Company shares are up 10 per cent to trade at 99 cents at 1:24 pm AEST
Peregrine Gold (PGD) has identified multiple intrusive “Hemi-style” targets within the Mallina project in Western Australia’s northern Pilbara region.
Earlier this year, the company completed an airborne geophysical survey over the Mallina project which was then interpreted by Fathom Geophysics.
Fathom’s interpretation identified three geological domains with up to 84 late intrusive features which may represent targets with similarities to De Grey Mining’s (DEG) world-class Hemi deposit that lies within the Mallina basin.
The intrusions appear as clusters and were found near favourable structures which the company said makes them priority targets for upcoming drilling.
In addition to discovering “Hemi style” targets, the company reviewed historical geological reports, as well as relogged and sampled historical drill core which uncovered the potential for nickel-copper-platinum group elements (PGE) within a small area of the project.
For example, a drill hole completed in 2005 returned an intercept of 30 metres at 0.2 per cent copper, 142 parts per billion (ppb) gold, 196 ppb palladium and 318 ppb platinum from 60 to 90 metres.
Peregrine Gold plans to lodge a program of work application with the Department of Mines, Industry Regulation and Safety, undertake heritage clearance surveys, drill priority targets, as well as undertake gravity surveys.
Company shares were up 10 per cent to trade at 99 cents at 1:24 pm AEST.