Peregrine Gold has verified gold-bearing paleo gravels extending over approximately 4 kilometres at its Capricorn Prospect, prompting a new Mining Lease application. The company also advanced heritage agreements and environmental plans across its Pilbara projects while maintaining a solid cash position.
- Auriferous paleo gravels confirmed over ~4km at Capricorn Prospect
- Mining Lease application lodged for 202 hectares at Capricorn
- Heritage Protection Agreement executed at Peninsula Prospect SPLs
- Flora and fauna survey completed for Coopers CID with management plan submitted
- Cash balance of $1.9 million and $0.55 million spent on exploration
Gold-Bearing Paleo Gravels Extend 4 Kilometres at Capricorn Prospect
Peregrine Gold Limited (ASX:PGD) has delivered a significant exploration update for the quarter ended 30 June 2026, confirming the presence of auriferous paleo gravels over a strike length of approximately 4 kilometres at its Capricorn Prospect in Western Australia's Pilbara region. This discovery follows a detailed geochemical sampling program and bulk sampling that revealed fine and coarse gold particles within gravel materials, validating earlier encouraging indications of gold mineralisation.
In response to these findings, Peregrine lodged a Mining Lease application covering 202 hectares at Capricorn, aimed at facilitating small-scale mining operations such as dry blowing. The company plans follow-up bulk sampling to better quantify the grade of these paleo gravels. Notably, the Karlka Nyiyaparli Aboriginal Corporation RNTBC (KNAC) has completed an Ethnographic Survey with an Archaeological Survey scheduled for October, underscoring ongoing engagement with traditional owners and regulatory processes.
Heritage Agreements and Environmental Approvals Progress Peninsula and CID Prospects
At the Peninsula Prospect, Peregrine secured execution of a Heritage Protection Agreement with Mark Creasy and KNAC over Special Prospecting Licences (SPLs). This agreement clears a key hurdle ahead of SPL grant and prospecting activities, which are anticipated to ramp up following the recent confirmation of gold assays up to 13.52 g/t in paleo gravels within the SPL area. A Programme of Work is being prepared for submission to the Department of Mines, Petroleum and Exploration (DMPE).
Meanwhile, at the Coopers Channel Iron Deposit (CID) Prospect, the company completed flora and fauna surveys and submitted an Exploration Environmental Management Plan (EEMP) to DMPE, with no material impediments noted. Drill planning advanced for both Coopers and Carneys CID prospects, with Reverse Circulation drilling campaigns of up to 100 holes each planned, pending heritage approvals and initial core assessments. Ethnographic surveys have been completed for both sites, with archaeological surveys scheduled for October.
Exploration Activities Prioritised at Newman and Pilgangoora North Projects
Exploration at the Rocklea Gold Project and Pilgangoora North Project was limited during the quarter due to prioritisation of the Capricorn and Peninsula sampling programs. However, Peregrine has since commenced general prospecting and reconnaissance stream sampling at Rocklea following pastoral approvals, and follow-up geological sampling and mapping at Pilgangoora North to investigate anomalous gold in streams. Assay results from these programs are pending.
The Mallina Gold Project saw no exploration activity this quarter, with the company evaluating strategic options to unlock value in this highly prospective area.
Financial Position and Corporate Updates
Peregrine ended the quarter with a solid cash balance of $1.9 million. Exploration expenditure was approximately $550,000, primarily directed towards the Newman Gold & Iron Ore Project and tenement rents at Mallina. Related party payments totalled $153,540, including director fees and exploration field activities.
In corporate developments, Curtis Abbott was appointed Company Secretary, bringing over 17 years of experience in financial reporting and company secretarial services, replacing Steven Wood and Jack Rosagro.
Bottom Line?
Peregrine’s confirmation of extensive gold-bearing paleo gravels and strategic heritage agreements position it well for advancing multiple Pilbara projects, but pending assay results and regulatory approvals will be critical to watch.
Questions in the middle?
- Will follow-up bulk sampling at Capricorn define economically viable grades for mining?
- How will heritage and environmental approvals impact the timing of drilling campaigns at CID prospects?
- What strategic options will Peregrine pursue to unlock value at the Mallina Gold Project?