Chasing Potential Hemi Style Gold Targets
Peregrine Gold Limited (ASX:PGD) has entered into an agreement to acquire New Frontier Resources Pty Ltd (NFR), the holder of a number of projects throughout the Pilbara region of Western Australia.
The assets include the Mallina Gold Project, located within the Mallina Formation, which extends 120km northeast from De Grey Mining Limited’s exciting Hemi gold deposit.
HIGHLIGHTS
- Mallina, a 1,728 sq. km tenement package, comprises one of the largest tenement holdings assembled in the Mallina Basin;
- Initial geophysical interpretation has generated numerous intrusive targets across Mallina;
- Remaining 30% interest in Stoney Creek tenement obtained through NFR acquisition;
- Activities at Mallina to be funded from existing cash reserves.
The Mallina Gold Project comprises four tenements (three granted, one application) covering approximately 1,728 sq. km of the Mallina Basin in the Northern Pilbara of Western Australia. De Grey Mining Limited’s Hemi deposit is located approximately 120km to the southwest of the NFR tenements with historical geophysical data suggesting that the majority of the tenement package is underlain by the Mallina Formation.
Mallina comprises one of the largest tenement holdings assembled within the Mallina Basin, of which three of four tenements were applied for prior to the discovery of Hemi. Hemi is identified as an intrusion hosted gold deposit which is a new style of gold mineralisation in the Pilbara region. These intrusions are hosted in the Mallina Formation within the Mallina Basin, part of the De Grey Superbasin.
There has been limited drilling and historical gold exploration conducted over the Mallina Gold Project. The limited geological understanding of Mallina has been derived through geophysical data with some previous interpretation utilised to obtain an overall understanding of the geology of the area.
In 2020, NFR engaged Fathom Geophysics to undertake a targeting exercise across the land package utilising open geophysics data which suggests the potential for the Mallina Gold Project to host multiple late intrusive targets that may be prospective for gold mineralisation.
n addition to the intrusive related gold system targeting noted above, orogenic gold targeting was also completed based on a model developed by Fathom that has been previously used in the Eastern Goldfields and Timmins areas with success.
For further information please visit: https://peregrinegold.com.au/
