Peregrine Gold Spots 60% Fe Channel Iron Deposit Near Coopers Prospect
Peregrine Gold has identified a promising new Channel Iron Deposit target near its recent Coopers CID North discovery, with high-grade iron ore samples and plans for imminent exploration.
- New large-scale Peninsula CID Prospect identified via magnetic imagery reinterpretation
- High-grade iron ore rock chip samples between 56.9% and 60.2% Fe
- Prospect located near major BHP iron ore operations in the Pilbara region
- Field exploration including mapping and sampling planned for late 2025
- Additional CID targets on Peregrine tenure under active investigation
A New Frontier in Pilbara Iron Ore Exploration
Peregrine Gold Limited has announced a significant development in its Newman Project with the identification of a new Channel Iron Deposit (CID) target, the Peninsula CID Prospect. This discovery follows a reinterpretation of historical magnetic survey data, enhanced by recent insights from the company’s earlier Coopers CID North Prospect find. The Peninsula target lies just 2.5 kilometres west of Coopers CID North and is situated in a highly prospective iron-rich district of Western Australia’s Pilbara region.
High-Grade Samples Signal Potential
Limited rock chip sampling conducted in 2021 within the Peninsula CID area returned encouraging iron grades ranging from 56.9% to 60.2% Fe. These grades are comparable to those at the Coopers CID North Prospect, suggesting the Peninsula site could host similarly valuable mineralisation. Covering an extensive area of approximately two million square metres, the prospect is geologically analogous to Coopers CID North and lies in proximity to world-class iron ore operations such as BHP’s Western Ridge and Mt Whaleback mines.
Strategic Use of Magnetic Imagery
The discovery was enabled by a novel reinterpretation of magnetic geophysical data, including reprocessed and merged surveys from Peregrine and Fortescue Metals Group. This approach has allowed Peregrine’s geologists to identify multiple CID targets across their tenure, including recently acquired tenements. Notably, previous exploration by Fortescue did not fully evaluate the CID potential, presenting Peregrine with a compelling opportunity to unlock value in the region.
Next Steps and Market Implications
Peregrine is preparing to commence detailed field exploration activities at both the Peninsula and Coopers CID North prospects. These will include mapping, sampling, and potentially drilling, with results from initial work expected by September or October 2025. The company’s Technical Director, George Merhi, expressed optimism about the ongoing exploration program and the broader potential across the Newman Project.
While no drilling has yet been undertaken at Peninsula, the combination of high-grade surface samples and advanced geophysical interpretation positions Peregrine well to expand its iron ore resource base. The proximity to established infrastructure and major mining operations further enhances the commercial attractiveness of these discoveries.
Bottom Line?
Peregrine’s new Peninsula CID Prospect could be a game-changer, but upcoming exploration results will be critical to confirming its potential.
Questions in the middle?
- Will drilling confirm the extent and grade continuity of the Peninsula CID Prospect?
- How will Peregrine prioritise exploration among multiple newly identified CID targets?
- What impact might these discoveries have on Peregrine’s valuation and strategic partnerships?
