Nov 30 2010
Peregrine Metals Ltd. (TSX:PGM) has announced the SEDAR filing of the Technical Report- Altar Project, San Juan Province, Argentina, dated October 4, 2010.
The information in the Technical Report was previously disclosed in the Company's news release dated October 4, 2010.
Altar is a large Andean-style porphyry copper-gold deposit. The alteration zone encompasses an area measuring over three by two kilometres with a strong, coincident induced polarization (IP) geophysical anomaly of approximately the same size. A total of 140 core holes has been drilled at the Project for 55,641 metres, and the deposit remains open in two directions and at depth. The Company is currently undertaking a preliminary economic assessment on a combined leach and concentrator mining operation, expected to be finalized by the third quarter of 2011.
Peregrine Metals holds a 100% interest in the Altar project subject to a 1% NSR royalty granted to Rio Tinto and another 1% NSR royalty granted to the underlying concession owners that may be purchased by Peregrine Metals from the underlying owners at any time for US $1 million.
Jeff Toohey, M.Sc., P.Eng., Vice President Exploration for the Company, is a Qualified Person as defined by NI 43-101 and is responsible for the design and implementation of the exploration work being carried out by the Company at the Altar project.
Source: Peregrine Metals Ltd.