Peregrine Gold Limited has announced a significant new discovery at its 100% owned tenement E52/3850 on the Newman Project. The company’s geologists, using reprocessed and merged magnetic data from previous surveys combined with insights gained from the recent Coopers CID North Prospect, have identified a large-scale Channel Iron Deposit target known as the Peninsula CID Prospect. This new target, covering about 2,014,000 square meters, is located approximately 2.5 kilometers west of the Coopers CID North Prospect and lies in a richly endowed iron district. Historical rock chip samples from the northern portion of the Peninsula unit have returned exceptionally high grades of iron (ranging between 56.9% and 60.2% Fe), underscoring the prospect’s promising potential. The prospect’s proximity—10 to 21 kilometers—to major iron ore operations, including projects managed by a world-class iron ore producer, further enhances its appeal and strategic significance. The announcement details robust technical work, including high-resolution 50-meter spaced magnetic surveys from 2021 reinterpreted with additional 2023 data from a major competitor. Peregrine’s exploration team has planned fieldwork at both the Coopers CID North and Peninsula CID targets, with mapping and sampling anticipated to be completed by September/October 2025. The company is also investigating other similar channel iron deposit targets across newly acquired tenements, suggesting a broader opportunity set on its tenure. Expert commentary from Peregrine’s Technical Director highlights that these initiatives are part of ongoing efforts to fully unlock the potential of the Newman Project. Bullish sentiment centers on the clearly defined high-grade iron results and the methodological advances that have culminated in the discovery of the Peninsula CID Prospect. The geological similarities with the successful Coopers CID North Prospect and the strategic location near established iron ore centers suggest a robust exploration upside, which could drive investor confidence in Peregrine Gold Limited’s resource potential. On the other hand, the early stage of exploration leaves certain uncertainties regarding resource continuity and economic viability. While the technical indicators are promising, market participants should consider the inherent risks in exploration, including the time required for detailed mapping, sampling, and potential future drilling to confirm the deposit’s scale and quality.