Visible gold recovered from two bulk samples at Peregrine's Western Australia project

en.Wedoany.com Reported - On August 27, Peregrine Gold disclosed that it had completed two directional bulk sample trials near the Peninsula prospect at its Newman Gold-Iron Project in Western Australia, recovering visible gold from both after processing paleochannel gravels using the dry-blowing method. The trials were primarily conducted to test the recovery effectiveness of the anhydrous dry-processing technique and to assess the development potential of shallow gold-bearing gravels at the adjacent Capricorn prospect.

Approximately 500 to 700 kilograms of paleochannel gravel were collected from each of the two trial pits. The first pit, located about 110 meters south of the Peninsula gold-bearing quartz vein, yielded an estimated recovery of approximately 5.3 grams of gold, including a 48-gram ironstone–quartz–gold specimen; the second pit, located about 20 meters south of the quartz vein, recovered approximately 7 grams of finer gold particles. After dry-blowing, both samples were further processed by panning to separate and collect the gold particles.

This round of bulk sampling work aligns with the mining lease application M52/1097 for the Capricorn prospect. The application area covers approximately 202 hectares and is located south of the Peninsula prospect. Previous exploration has identified a gold-bearing paleochannel gravel zone extending approximately 3 to 4 kilometers southward, with mapped widths ranging from about 43 to 185 meters and an average thickness of about 1 meter. Trench samples collected approximately 400 meters south of the current trial pits also returned gold grades of 13.5 g/t and 1.8 g/t.

Peregrine Gold has collected an additional 22 trench samples from the interpreted older paleochannel gravel unit and submitted them to a laboratory for geochemical analysis. The company expects that, should this unit return further gold anomaly results, the combined width of the gold-bearing gravel zone in parts of the Capricorn prospect could expand to approximately 280 meters.

Next steps include expanding bulk sampling, evaluating gravel gold grades, continuing dry-processing trials, and submitting a program of works. The company also plans to prepare a mining development and closure plan to support potential small-scale mining operations; relevant Aboriginal heritage surveys are scheduled for late October 2026.