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Peregrine Gold (ASX: $PGD) acquires highly prospective tenements around Newman Gold Project

Peregrine Gold's Acquisition of Highly Prospective Tenements


Peregrine Gold Limited (ASX: $PGD) has successfully acquired a 100% interest in seven highly prospective exploration tenements adjoining and surrounding its Newman Gold Project in the Pilbara region of Western Australia. The acquisition, with a total consideration of A$100,000, aims to consolidate the company's footprint in the region. Planning is already underway for reconnaissance geochemistry to further explore the potential of these newly acquired tenements.

Executive Commentary on Acquisition


The acquisition of these highly prospective tenements is a valuable addition to Peregrine Gold's land position at Newman. Some of these tenements are along trend of our current prospects and within a prospective geological formation. Reconnaissance exploration including steam sediment, soil and rock sampling will commence early in Q1 2024.

Summary of Peregrine Gold's Acquisition


Peregrine Gold Limited (ASX: $PGD) has expanded its land position at the Newman Gold Project by acquiring seven highly prospective exploration tenements. The company's technical director, Mr. George Merhi, expressed the significance of this acquisition, highlighting the proximity of these tenements to the current prospects and their location within a prospective geological formation. The commercial details of the acquisition include an upfront cash consideration of A$100,000 and deferred milestone payments upon achieving specific resource delineation and mining lease grant. Peregrine Gold is optimistic about the potential of these tenements and is set to commence reconnaissance exploration in early Q1 2024. The company's ambitious exploration program and the discovery of visible gold in the area indicate a promising outlook for the Newman Gold Project, positioning it as a potential significant gold camp in Australia's mining landscape.

Sourcehttps://announcements.asx.com.au/asxpdf/20231212/pdf/05ygj5r15ctqd4.pdf

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