Peregrine Gold's discovery at Tin Can West

Peregrine Gold Limited (ASX:PGD) has announced the discovery of a new high-grade gold zone, Tin Can West, located 250m west of the Tin Can Prospect at the Newman Gold Project. The initial discovery hole returned 4m at 9.0g/t Au, providing further confidence in the prospectivity of the Tin Can gold trend.

Executive Commentary on Phase Two RC Drilling Results

Phase Two RC drilling successfully identified the new Tin Can West zone, showing geological continuity with Tin Can. The high-grade initial success after only five holes is very pleasing and boosts the prospectivity of the entire Tin Can trend. Additional high-grade results have extended the mineralisation at depth, despite challenges such as weathering and possible sub-surface depletion. The focus of the next drilling phase will be to target mineralisation in fresh rock.

Summary of ASX Announcement

Peregrine Gold Limited's phase two RC drilling at the Tin Can Prospect has revealed significant gold mineralisation, including the discovery of a new high-grade gold zone, Tin Can West. The company plans to conduct heritage clearance, IP survey, and phase 3 RC drilling as part of the planned work. The discovery boosts the prospectivity of the entire Tin Can trend, and the company aims to target mineralisation in fresh rock in the next drilling phase.