Peregrine Gold Limited has expanded its Rocklea Gold Project footprint in Western Australia's Pilbara region through the acquisition of a promising new tenement application, setting the stage for intensified exploration in 2026.
- Acquisition of tenement E47/4282 near Rocklea Gold Project
- Transaction involves $10,000 cash plus $70,000 in shares
- Expands Peregrine’s coverage over Fortescue Group gold-bearing formations
- Immediate completion with planned exploration in early 2026
- Supports broader Pilbara portfolio including Mallina and Newman projects
Expanding the Rocklea Gold Project
Peregrine Gold Limited (ASX – PGD) has taken a decisive step to enlarge its presence in the Pilbara gold belt by acquiring a highly prospective tenement application, E47/4282. Situated approximately 65 kilometres northwest of Paraburdoo, this acquisition directly adjoins the company’s existing Rocklea Gold Project, enhancing its strategic footprint over a region known for significant gold mineralisation.
The newly acquired tenement lies within the Fortescue Group, a geological formation rich in gold-bearing stratigraphy, including the Hardey, Bongal, and Pyradie Formations. These formations are intersected by numerous northwest trending faults, which are considered prime targets for gold exploration. By securing this ground, Peregrine positions itself to leverage these structural features that have historically hosted gold deposits.
Transaction Details and Strategic Implications
The acquisition was executed through Peregrine’s wholly owned subsidiary, Retention Resources Pty Ltd, from Nearology Pty Ltd. The deal was structured with a modest upfront cash payment of $10,000, supplemented by the issuance of shares valued at $70,000, amounting to 274,510 fully paid ordinary shares at a deemed price of $0.255 each. Completion was immediate, reflecting Peregrine’s eagerness to integrate the tenement into its exploration pipeline without delay.
Additionally, Peregrine issued 50,000 shares to a third party who facilitated the transaction, underscoring the collaborative nature of this expansion. The relatively low acquisition cost suggests a prudent approach to growth, balancing capital discipline with the potential for significant upside from exploration success.
Looking Ahead – Exploration and Growth Prospects
Technical Director George Merhi expressed optimism about the acquisition, highlighting the prospective nature of the region and the company’s plans to commence fieldwork promptly. Orientation stream sediment sampling is scheduled for the first half of 2026, running in parallel with ongoing activities at Peregrine’s larger Mallina and Newman Gold Projects. This coordinated exploration effort could accelerate the identification of new gold resources and enhance the company’s overall project pipeline.
While forward-looking statements carry inherent uncertainties, this acquisition signals Peregrine’s commitment to expanding its resource base in one of Australia’s most prolific gold provinces. Investors will be watching closely for early exploration results that could validate the strategic value of this expanded footprint.
Bottom Line?
Peregrine’s measured expansion at Rocklea sets the stage for a potentially transformative exploration campaign in the Pilbara.
Questions in the middle?
- What initial exploration results will emerge from the newly acquired tenement in 2026?
- How might this acquisition influence Peregrine’s resource estimates and valuation?
- Will Peregrine pursue further acquisitions to consolidate its Pilbara presence?