The Conversation (0)
Peregrine Gold Limited (“Peregrine” or the “Company”) (ASX: PGD) is pleased to announce a Gradient Array Induced Polarisation (GAIP) survey will commence at the Birdsnest and Epithermal gold and base metals prospects located within the Company’s 100% owned Newman Gold Project (Figure 1).
HIGHLIGHTS
- Gradient Array Induced Polarisation survey to commence at the Birdsnest & Epithermal prospects located within the 100% owned Newman Gold Project
- Additional Dipole-Dipole Induced Polarisation survey to follow in order to refine geophysical targets for subsequent drill testing
Figure 1: Location of the Birdsnest and Epithermal Prospects within the Newman Gold Project.
The Birdsnest and Epithermal Prospects are situated proximal to the bounding contact of the Sylvania Inlier and north of the Nanjilgardy Fault, both of which are highly prospective zones for gold mineralisation (Figure 2). The GAIP survey data is expected to provide useful layers of geophysical information to assist Peregrine’s interpretation of sub-surface geology and structure, provide feedback for further drill targeting of existing gold and base metal mineralised trends and potentially identify new target zones in other parts of the prospect areas.
Figure 2: Newman Gold Project relative to regional geological structures and neighbouring tenements.
The GAIP surveys will produce plan view maps of Induced Polarisation (IP) chargeability and resistivity anomalies relating to potential sulphide minerals associated with gold and/or base metal mineralisation within approximately 100m from surface within the GAIP survey grid areas. The planned GAIP survey grid areas are both 1.2km long (NW-SE) by 900m wide (NE- SW) (Figure 3).
Figure 3: Planned IP Survey area of Birdsnest & Epithermal Prospects (E52/3850).
The GAIP transmitter electrodes and receiver survey lines will be oriented NE-SW across the grid areas, which is perpendicular to the general geological strike. IP receiver lines will be spaced 100m apart, with receiver electrodes spaced 50m apart along the IP receiver survey lines.
Pending GAIP survey results, follow-up Dipole-Dipole IP (DDIP) surveying across priority GAIP anomalies identified at these prospects may be considered in order to produce cross section images of IP chargeability and resistivity to a maximum depth from surface of approximately 350m along the DDIP survey lines, which will provide feedback on the depth and orientation of the GAIP anomaly sources and thereby allow more accurate drill targeting of IP anomalies in the future.
The Company has engaged experienced IP contractor Khumsup Geophysics to undertake the surveys in early April and are scheduled to take between 2 to 3 weeks to complete with final reporting to be released in May. Subject to these results, the Company will immediately commence drill planning activities.
Geophysical consultants from Resource Potentials Pty Ltd have assisted with the IP survey planning and will QC the survey data, provide preliminary updates during the survey period and then process, interpret and model the final IP survey data, as well as assist with follow-up exploration planning as needed.
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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.
Extensions and New Zones of High Grade Tin at Bygoo North
HIGHLIGHTS
- Scale of Bygoo Tin Project continues to grow with the discovery of new zones of tin mineralisation during the Company’s second RC drilling campaign
- Very broad zone of tin mineralisation at the Stewart’s Lode extended along strike with:
- 118m @ 0.32% Sn from 44m in BRC015 (unconstrained internal dilution); including
- 29m @ 0.53% Sn from 44m, including 8m @ 1.17% Sn from 45m
- 12m @ 0.45% Sn from 116m; and
- 28m @ 0.52% Sn from 146m
- Caspin’s maiden drilling at the Smith’s Lode returns further high-grade tin with:
- 16m @ 0.68% Sn from 49m (BRC013); including
- 5m @ 1.73% Sn & 1.45% Cu from 53m;
- Drilling identifies a further new zone of mineralisation named ‘Radius’, between Dumbrell’s and Smith’s, with:
- 16m @ 0.48% Sn from 124m (BRC016); including
- 2m @ 2.05% Sn & 0.37% Cu from 128m
- Wide zones and high-grade tin mineralisation now drilled over +1,000m of granite contact zone with large gaps in drilling and open along strike.
- High resolution aerial magnetic survey covering ~800km2 to commence shortly
Caspin’s Managing Director, Mr Greg Miles, commented “These results are an exciting epilogue to our maiden drilling program at the Bygoo Project. We are delighted with intersecting 16m @ 0.68% Sn in our first drill hole at Smith’s, including a high-grade zone of 5m @ 1.73% Sn, coupled with 1.45% Cu, the highest-grade copper result by Caspin to date. Another 100m-plus intersection of tin mineralisation at Stewart’s also confirms continuity of ‘bulk’ mineralisation, at very shallow depths. And finally, a new zone of tin mineralisation at ‘Radius’ result demonstrates verifies Caspin’s geological model and growing understanding of key controls to tin mineralisation.
“Most importantly, we now recognise the tin mineralisation potential over greater than 1,000m of shallow granite contact strike at Bygoo North. Drilling is quickly demonstrating that Bygoo North has excellent potential to grow into a tin project with substantial scale. Drilling will continue to target new zones of tin mineralisation and extensions of known areas of shallow tin mineralisation along strike.”
Since acquiring the project, the Company has invested considerable time to understand the geology and controls on mineralisation at Bygoo North. Using the previous exploration data as a base and steadily importing other legacy data such as drilling from the 1970s, the Company is developing a new geological model for the prospect. The Ardlethan Granite contact can now be traced over 1,000m at the prospect, with greisen-style mineralisation developed variably along its entirety (Figure 1).
Figure 1. Location plan of mineralisation and relationship to granite contact at Bygoo North, with significant intercepts. The prospective granite horizon represents the potential for greisen mineralisation on the granite contact to approximately 100m below surface.
These latest results provide further evidence that mineralisation is constrained only by drilling. There are obvious additional drill targets for further exploration. A planned high-resolution aerial magnetic survey, commencing in the following weeks, will further assist refinement of the geological model and hence the targeting process, particularly the several kilometres of untested granite contact to the north and south.
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This article includes content from Caspin 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.
Nine Mile Metals Maintains Nine Mile Brook Project Option with Third Anniversary Payment
This successfully allows Nine Mile Metals to keep the Option Agreement in Good Standing and pursue its priority exploration of the Flagship Nine Mile Brook VMS Project and its goal to discover additional High Grade VMS Len's.
The Nine Mile Brook Project consists of 50.02 square kms over 229 mining claims, 10kms west of the World-Famous Brunswick #12 Mine. Below is a summary of the 2022 Drill Program Certified Assay Results, previously announced, displaying the exceptional grades of the Nine Mile Brook Lens. (see Table 1 below)
Table 1: Nine Mile Brook VMS Lens Drill Program Certified Assay Results
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Drill Certified Assays:
(Sample #683512) 18.30 % Cu, 0.40 % Pb, 0.17 % Zn, 119 g/t Ag, 0.84 g/t Au)
(Sample #683542) 15.42% Cu, 2.45% Pb, 2.03% Zn, 173 g/t Ag, 1.05 g/t Au)
(Sample #683534) 16.85% Cu, 0.98% Pb, 0.57% Zn, 125 g/t Ag, 1.13 g/t Au)
"The team is looking forward to returning to Nine Mile Brook in Fall of 2025. With abundant geophysical targets already defined, drill hole selection involves the integration of our extensive datasets including the UAV magnetics, I.P. and Borehole electromagnetics (BHEM) and previous drill hole data, into a 3D model to best leverage the information. The Bathurst Mining Camp is structurally complex and having less than 1% outcrop, the team is committed to following the science and in particular, the advanced geophysics to guide us to success," stated Gary Lohman, VPX & Director.
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About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS and the Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.
ON BEHALF OF NINE MILE METALS LTD.
"Patrick J. Cruickshank, MBA"
Chief Executive Officer and Director
info@ninemilemetals.com
"Jonathan Holmes"
Director
jonathan@ninemilemetals.com
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company's Qualified Person and is not independent of the Company.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek, "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
