THE PILBARA LITHIUM PROSPECT
Peregrine was successful in a ballot for Exploration Licence E45/5775 which is located adjacent and along strike from the prolific Pilgangoora Lithium operations of Pilbara Minerals Ltd (ASX: PLS) and hosts abundant mapped pegmatites. E45/5775 is situated in a favourable geological setting which hosts numerous lithium occurrences. The mineral resource at Pilgangoora for June 2021 comprised a total of 308.9 million tonnes grading 1.14% spodumene (Li2O) and 105 ppm tantalite (Ta2O5).
There has been limited drilling and historical exploration conducted over E45/5775, a review of all past work is underway. The Company is seeking to rapidly process Exploration Licence E45/5775 to grant. Subject to weather, the Company will commence field activities as soon as possible and then once E45/5775 is granted, undertake a comprehensive stream sediment and rock chip sampling programme.
THE PILBARA GOLD PROJECT
The Company holds a 100% interest in the Pilbara Gold Project consisting of eight granted exploration licences (and nine applications) covering a total of 1,894km2 located on the Sylvania Inlier in the south west of the prolific Pilbara region (Figure 1). The project is situated approximately 30km south and west of Newman and approximately 1,000km north-north east of Perth at the southern edge of the Hammersley area of Western Australia. The tenements are neighbouring Capricorn Metal Limited’s Karlawinda Gold Project (“Karlawinda”).
The tenement package comprises predominately greenfields tenements prospective for gold that historically have been underexplored and/or have had a focus on other metals such as iron ore. The Company considers that the tenements may contain additional gold prospects and warrant further investigation.”
THE MALLINA GOLD PROJECT
The Mallina Gold Project (“Mallina”) comprises four tenements (three granted, one application) covering approximately 1,728km2 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 Mallina 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.