The Conversation (0)
Peregrine Gold Limited (“Peregrine” or the “Company”) (ASX: PGD) is pleased to announce it has executed an agreement, via its wholly owned subsidiary Pilbara Gold Exploration Pty Ltd, with prominent prospector and major shareholder Mark Creasy. The agreement permits the exploitation of precious metals within three Prospecting Licenses (“SPL”) applied for over the Peninsula prospect E52/3850 (Figure 1) (“Agreement”), located within the Company’s Newman Gold Project (Figure 2).
HIGHLIGHTS
- Prominent prospector and major shareholder Mark Creasy applies for several Special Prospecting Licences over Peregrine’s high grade Peninsula Prospect
- Binding agreement executed permitting access to enable the potential extraction of gold material down to 50m vertical depth
- Net proceeds recovered to be split in favour of Peregrine on a 60/40 basis
Figure 1: Map of SPL locations over the Peninsula prospect (E52/3850)
Figure 2: Location of Peninsula prospect within Newman Gold Project
Subject to the grant of the SPL, the Agreement stipulates the exploitation of precious metals can proceed under the following conditions:
- Any expenditures incurred in the process of exploitation are to funded by Mark Creasy and will be deducted from the value of any gold recovered (Net Value);
- The Net Value of any gold recovered (cash or physical form) to be divided 60/40 in favour of Peregrine;
- The SPL cannot be converted to a mining license and may not be advanced beyond 50m vertical depth from surface;
- Commencing from execution, the Agreement has a maximum term of three years and nine months;
- While Mr Creasy is responsible for and managing the SPL, as part of the Agreement, all activities are to be coordinated with Peregrine so that any significant mineralisation identified will be reported to the market in accordance with the Company’s continuous disclosure policy.
Having had a history of demonstrating spectacular shallow gold intercepts (Figures 3-6) (ASX Announcement: 5 August 2022), the Agreement recognises the significant potential of the Peninsula prospect and due to the Agreement being free carried through to gold monetisation, potentially provides the Company a pathway to generating cashflow at a time when the Australian gold price continues to reach all-time highs.
Technical Director of Peregrine Mr. George Merhi commented:
“It’s a pleasure to partner with a supportive shareholder with arguably the best track record for discovery and value creation in Australia on an initiative that will greatly advance our understanding of the geological potential of the Peninsula prospect. We look forward to updating shareholders once the SPL is granted.”
Figure 3: Peninsula Prospect - At surface drill core photo of ‘Hole A’ (ASX Announcement 5 August 2022). To assist with mineralogical and textural studies at the Newman Project, Hole A was not split and assayed for gold (ASX Announcement 12 January 2023)1.
Figure 6: Peninsula Prospect gold vein looking south-east1
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This article includes content from Peregrine Gold Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Cash Payment Received from Loreto, Chile Option and Joint Venture Agreement
Transaction Terms
Pursuant to the Agreement, Teck Chile has been granted options, to earn up to a 75% interest in Loreto by making US$600,000 in staged cash payments and spending US$17m on exploration.
First Option
Asara has granted Teck Chile an option to acquire a 55% interest in Loreto (the First Option). Teck Chile may exercise the First Option by incurring an aggregate of US$5,000,000 in expenditures on Loreto and by making US$600,000 in cash payments to Asara as set out in the schedule below. The dates for remaining payments, are tied to the Permit Date.
Second Option
If Teck Chile exercises the First Option, Teck Chile shall have a further option to acquire an additional 20% interest in Loreto, by incurring an additional US$12,000,000 in expenditures over the ensuing four-year period (the Second Option).
Loreto Project Litigation
As announced on 8 May 2025, Asara successfully concluded legal proceedings brought against the Company as outlined in its ASX Announcement dated 15 November 2023. As part of the settlement, Asara was required to sell 25.26% of its interest in the Loreto Project to Costa Rica Dos SpA (Costa Rica Dos) for approximately A$87,122 with payment to be made through future profits generated in the context of the Agreement with Teck Chile. Accordingly, Asara is not required to remit the requisite portion of the recent payment to Costa Rica Dos.
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This article includes content from Asara Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Australian Critical Minerals to acquire significant gold and copper portfolio in mineral rich Peru
Highlights
- ACM has entered into a binding Share Purchase Agreement to acquire 100% of the issued capital of Circuit Resources Pty Ltd which owns several potentially transformational gold and copper projects in highly prospective locations in Peru.
- Targeting gold and copper, with high grade silver and base metals a secondary focus.
- Blanca Gold Project is a low-sulphidation epithermal quartz vein with substantial previous drilling and trenching identifying high grade gold.
- Drill results include:
- Bonanza drill grades to 52.8g/t Au over 1.5 metres within 9.5m @ 11.27 g/t Au
- 4m @ 3.97 g/t Au, including 1.75m @ 7.5 g/t Au
- 1.5m @ 22.68 g/t Au within 5m @ 7.04 g/t Au
- 1.2m @ 8.13 g/t Au within 7.37m @ 2.44 g/t Au
- 6m @ 2.31 g/t Au (refer to Figure 4 and Appendices 3 and 4 for full results of the drill and trench sampling program). (1,2,3)
- Only partially drilled - 2km of the 3km strike remains to be drilled
- Drill results include:
- The Riqueza Copper-Silver Project is a district-scale, intermediate-sulphidation vein system extending over a 10 km strike length, which has undergone substantial exploration by previous operators.
- Copper grades from 1% to 8.7% and silver assays to 2,238 g/t in historic surface rock chip samples
- The Flint Gold Project hosts a 6 sq km high-sulphidation system with strong geophysics and geochemistry,
- directly bordering Peñoles’ San Juan copper deposit—highlighting shallow gold potential.
- Cerro Rayas hosts eight high-grade zinc-lead-silver workings along 8 km, with rock chips grading over 40% Pb+Zn—showcasing standout exploration potential (refer to Figure 15 and Appendix 6 for further details).
- Completion of oversubscribed $1m placement to support exploration across new and existing projects.
Australian Critical Minerals Managing Director, Dean de Largie commented, “The acquisition of Circuit Resources is a significant opportunity for ACM, delivering a pipeline of high-impact exploration projects across gold, copper, silver, zinc, and lithium in Peru. The scale and quality of these assets—spanning over 25,000 hectares— give us immediate drill-ready targets and exceptional scope for new discoveries.
Projects like Riqueza, with high-grade copper-silver veins over several kilometres and proximity to majors like Anglo American, offer Tier-1 potential. Blanca has already demonstrated strong gold mineralisation, while Cerro Rayas and the Salar projects provide exposure to critical metals with potentially strong demand tailwinds.
This acquisition significantly strengthens our portfolio, and we’re excited to begin unlocking value with aggressive exploration in the near term.”
Figure 1 – Location of Circuit Resources Projects
Circuit Resources Project Overview
Circuit Resources owns or has the right to acquire 100% of six projects comprising 37 mining concessions covering 25,600 Ha in Peru. Refer to Appendix 5 for a summary of the mining concessions to be obtained through the acquisition of Circuit.
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This article includes content from Australian Critical Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
