- Peregrine Gold (PGD) identifies visible gold at the Birdsnest prospect within its Newman gold project in Western Australia
- This finding comes from a costean program completed adjacent to historical rock chip sampling reported last year
- Six costeans were dug on either side of the historical rock chip sample site with two to the west and east identifying visible gold in a quartz-ironstone vein
- The work outlined the vein has a strike of 6.3 metres with an estimate gold value of 0.5 per cent present over a 4.7-metre strike
- Shares in Peregrine are up 3.45 per cent and trading at 45 cents at 2:42 pm AEDT
Peregrine Gold (PGD) has identified visible gold at the Birdsnest prospect within its Newman gold project in Western Australia.
This finding comes from a costean program completed adjacent to historical rock chip sampling reported last year.
Six costeans were dug on either side of the historical rock chip sample site with two to the west and east identifying visible gold in a quartz-ironstone vein.
A gold value of 0.5 per cent has been estimated for the vein.
The costeans outlined the vein has a strike of 6.3 metres with the visible gold present over a strike of 4.7 metres. Further, the vein dips to the southwest.
“The costean program at Birdsnest is significant in understanding the gold mineralisation architecture at the Newman gold project,” Technical Director George Merhi said.
“High-grade gold shoots may be the structural style of mineralisation prevalent within the Newman Gold project. If so, a more focused approach, such as costeaning over significant gold soil anomalism may help identify these high-grade gold structures prior to very close-spaced drilling.”
Rock sampling was also completed at the Peninsula prospect with samples taken along strike and to the west of previously reported visible gold.
Peregrine will undertake future diamond drilling programs to extend the gold mineralisation and a costean program over the significant anomalies may be completed.
Shares in Peregrine were up 3.45 per cent and trading at 45 cents at 2:42 pm AEDT.