- Peregrine Gold (PGD) reports high grades from two samples at the Peninsula prospect in Western Australia
- A third drill core sample returned “spectacular” grades of 1797 grams per tonne (g/t) gold and 374 g/t silver
- It also showed elevated values of rare earths including 1151.5 parts per million (ppm) lanthanum and 499.5 ppm cerium
- The company will conduct further analysis of some drill samples to properly assess the rare earth potential as well as further trenching of anomalous soil samples
- PGD shares are up 4.44 per cent to trade at 47 cents at 11:36 am AEDT
Peregrine Gold (PGD) has reported high grades from the Peninsula prospect within its Newman project in Western Australia.
Following analysis of a third core drill hole into the auriferous quartz-ironstone vein, it returned “spectacular” grades of 1797 grams per tonne (g/t) gold and 374 g/t silver over 29 centimetres.
This core result follows the first and second cores drilled at Peninsula with results announced in August last year. The first two core holes returned “abundant” visible gold and are now being subject too mineralogical and textural studies.
Peregrine also drilled a fourth core around 125 metres from cores A, B and C which comprises a quartz-ironstone breccia with late-stage ironstone veinlets at the base of the interval.
The company also reported elevated rare earth elements, particularly lanthanum and cerium, from the last two core samples.
The third core sample returned grades of 1151.5 parts per million (ppm) lanthanum and 499.5 ppm cerium. The fourth sample returned 9.9 ppm lanthanum and 91.2 ppm cerium.
Peregrine plans to conduct additional analysis of some drill samples to properly assess the rare earth potential and will also undertake further trenching of anomalous soil sample locations.
PGD shares were up 4.44 per cent to trade at 47 cents at 11:36 am AEDT.