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Peregrine Gold Ltd (ASX:PGD)

ALERT: Price-sensitive ASX Announcement for PGD
Current share price for PGD : $0.098 -0.152 (-60.80%)+
Announcement
Release
26 Nov 2025 8:17AM
Price at Release
$0.250
Full Release
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Summary
Peregrine Gold Ltd has identified a second high-grade Channel Iron Deposit (CID) prospect named Carneys CID at their Newman Gold and Iron Project. With a substantial strike length and high iron content, the prospect presents significant potential for expansion, particularly given its proximity to existing prospects such as Coopers CID. Preliminary sampling results are promising, and reverse circulation drilling is planned to further explore the system. The company is also preparing for a heritage survey to facilitate this exploration.
Key Points
  • Peregrine Gold Ltd announced a new high-grade Channel Iron Deposit (CID) at Carneys CID Prospect in Newman.
  • The Carneys CID has a strike up to 1.1km in outcrop with an additional 4.6km inferred under shallow cover from magnetic imagery.
  • Surface sampling at Carneys CID returned high grades up to 60% Fe, averaging 55% Fe with low levels of deleterious elements.
  • The new prospect is located approximately 6km from Peregrine's Coopers CID and 3km from BHP's Western Ridge Project.
  • 44 rock chip samples were collected along the northern 1.1km of strike, showing a robust CID system with increased potential further south under cover.
  • Peregrine has initiated planning for a drilling program and a heritage survey at both Coopers and Carneys CID.
  • The results highlight the potential for increased scale and improved economics due to the proximity of the Carneys CID to the Coopers CID.
  • Reverse circulation drilling is planned to further evaluate the Carneys CID due to its significant potential.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.