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Peregrine Gold Ltd (ASX:PGD) has made notable progress at its Kangaroo prospect, located approximately 10 kilometers east of the Peninsula prospect within the Newman gold project area. The Kangaroo prospect gained attention after stream sediment samples indicated significant gold values, with some samples exceeding 1g/t gold and a maximum of 4.9g/t gold.
Following the initial promising results, Peregrine Gold conducted soil sampling along north-south lines at Kangaroo. These soil samples returned a peak gold reading of 7.7g/t, further highlighting the prospect’s potential. The prospect is situated over an antiformal fold structure and is hosted within basaltic lithologies that include interflow siliceous sediments and quartz veining.
Technical Director George Merhi commented, “The Kangaroo prospect adds to the existing four prospects identified within the Newman gold project. We will continue with additional reconnaissance stream sediment sampling across tenements E52/3570 and other recently acquired areas.”
Newman’s location, approximately 70 kilometers from Capricorn Metals Ltd (ASX:CMM) Karlawinda gold mining operation, places it in a significant gold-bearing region. In 2023, Peregrine Gold made its first bedrock gold discovery at the Tin Can prospect, following an initial drilling program in 2022. The discovery was further refined with close-spaced diamond drilling, revealing rich gold mineralization despite the complex structure.
Recent assay results from Phase 1 drilling at Tin Can have shown promising outcomes, such as 9 meters at 4.74g/t gold from 33 to 42 meters depth and 6 meters at 4.28g/t gold from 19 to 25 meters depth. Assays from the Phase 2 drilling program, which included 48 holes and totaled 3,516 meters, are currently pending.
In addition to these developments, recent work has also enhanced the prospectivity of the Epithermal prospect. Mapping and sampling at Epithermal have uncovered abundant classic epithermal textures and anomalous geochemistry, signaling further exploration potential.
As Peregrine Gold continues its exploration and drilling programs, the Newman project shows increasing promise as a significant gold exploration camp.
