Peregrine Gold reported a discovery at its Newman Gold Project.
The reconnaissance stream sediment and soil sampling conducted on tenement E52/3570 has led to the identification of a new prospect, named the Kangaroo prospect, approximately 10km east of the existing Peninsula prospect.
Technical Director George Merhi commented on the discovery, stating, "The Kangaroo Prospect adds another prospect to the four already identified within the Newman Gold Project."
"Additional reconnaissance stream sediment sampling will continue over E52/3570 as well as other tenements acquired from FMG," Merhi added.
Peregrine acquired several tenements from FMG in 2023, as reported on Dec. 12, 2023.
The comprehensive sampling program at the Kangaroo Prospect used fine (-2mm) and coarse (-5mm+2mm) fraction trap site sampling, which returned a maximum of 5.0 g/t gold in stream sediments.
Soil sampling, carried out along north-south lines with 50m x 25m spacing, revealed a maximum gold response of 7.7 g/t in soils.
Geologically, the prospect is situated over an antiformal fold structure in basaltic lithologies with interflow siliceous sediments and quartz veining.
Additional soil sampling and further investigation of gold-anomalous catchments are planned to extend southward to enhance understanding of the prospect's potential.
Peregrine Gold is a gold and lithium exploration company that holds a 100% interest in the Newman Gold Project, consisting of approximately eight granted exploration licenses (and six applications) covering a total of 1,547km2 located on the Sylvania Inlier in the southwest of the prolific Pilbara region.
At the time of reporting, Peregrine Gold’s share price was $0.165.