Peregrine Gold Extends Auriferous Paleo Gravels to 4km at Capricorn Prospect
Peregrine Gold has expanded the known gold-bearing paleo gravel strike at its Capricorn Prospect to approximately 4 kilometres, uncovering a new potential gold source and advancing plans for small-scale mining operations.
- Auriferous paleo gravels strike extended to 4km
- New older paleo gravel unit assays 0.45 g/t Au
- Mining License Application lodged over 202 hectares
- Ethnographic survey completed; archaeological survey planned
- Further testing includes bulk sampling and dry processing trials
Strike Extension Enhances Capricorn Prospect Potential
Peregrine Gold Limited (ASX:PGD) has pushed the boundaries of its Newman Gold Project with a significant extension of auriferous paleo gravels at the Capricorn Prospect. Assays from the latest 25 samples have stretched the known mineralised strike by an additional 900 metres, bringing the total length to roughly 4 kilometres. This follows earlier results that confirmed a 1.7km zone with gold grades reaching up to 12.52 g/t Au, underscoring the prospect’s growing allure.
Discovery of Older Paleo Gravel Unit Adds New Dimension
Beyond extending the strike, Peregrine has identified an inferred older paleo gravel unit, previously untested, which returned assays up to 0.45 g/t Au. This unit spans approximately 2 kilometres in length and up to 150 metres wide, running parallel to the main paleo gravels. While the gold tenor is modest compared to the primary units, its confirmation could substantially boost the scale and resource potential of the Capricorn Prospect. The company is gearing up for further sampling to evaluate this new target.
Advancing Towards Mining and Cultural Approvals
In response to these encouraging results, Peregrine has lodged a Mining License Application covering about 202 hectares at Capricorn. This move aims to facilitate small-scale mining operations under a Mining Development and Closure Proposal (MDCP). Complementing exploration, the company has completed an ethnographic survey and scheduled an archaeological survey for October, reflecting compliance with cultural heritage requirements in the Pilbara region.
Planned Exploration and Processing Trials
Looking ahead, Peregrine plans to undertake bulk sampling to better assess gold grades and trial dry processing techniques such as dry blowing to determine suitability for the paleo gravels. These steps are critical for establishing the feasibility of mining and processing methods tailored to the unique characteristics of these deposits. The sampling program has employed industry-standard protocols, including the collection of substantial material fractions for panning and assay.
Technical Perspective and Regional Context
Technical Director George Merhi highlighted the prospect’s promise, noting the extended strike and additional paleo gravel source as hallmarks of a highly prospective paleochannel system. The Capricorn Prospect sits within the Newman Gold & Iron Ore Project in the Pilbara, an area with diverse mineralisation styles and significant nearby deposits. Peregrine’s systematic approach, including heritage surveys and targeted sampling, aligns with its broader Pilbara exploration strategy, which has seen steady progress across multiple prospects in recent months.
Bottom Line?
Peregrine’s extension of auriferous paleo gravels and discovery of a new paleo gravel unit at Capricorn Prospect set the stage for advancing exploration into mining feasibility, with key assays and cultural approvals shaping near-term catalysts.
Questions in the middle?
- Will bulk sampling confirm economically viable gold grades in the newly identified paleo gravel unit?
- How will the upcoming archaeological survey impact the timeline for mining license approvals?
- Can dry processing trials demonstrate cost-effective methods suitable for the paleo gravels’ characteristics?
