Exploration Quarter in Review: Augustus Minerals (ASX:AUG), Peregrine Gold (ASX:PGD) and Falcon Metals (ASX:FAL) Report Drilling

Sonal Goyal

26 October 2026 05:28 PM AEDT

Exploration Quarter in Review: Augustus Minerals (ASX:AUG), Peregrine Gold (ASX:PGD) and Falcon Metals (ASX:FAL) Report Drilling

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Key Highlights

1m at 19.5 g/t gold from 73m is the highest grade so far.
202ha Mining Lease application lodged at Capricorn.
850m of strike.
The three companies reported quarterly exploration reports.

Three gold explorers released quarterly reports. Augustus Minerals (ASX:AUG), Peregrine Gold (ASX:PGD) and Falcon Metals (ASX:FAL) each published an update that is covered below.

Augustus Minerals (ASX:AUG): Clifton East Assays

June RC drilling returned 8m at 3.27 g/t from 72m, 12m at 0.94 g/t from 39m, 3m at 1.06 g/t from 36m and the 19.5 g/t metre in MWRC0019i. Mineralisation spans 400m of a 1.2km gold-in-soil trend.

The first diamond hole, MWD0001, reached 201.7m, and measurements link higher grades to steep pyritic quartz veins oblique to alteration. Two shoots remain open to the north-northeast.

Peregrine Gold (ASX:PGD): Capricorn

Sixty-one channel samples confirmed about 1.7km of gold-bearing palaeogravels up to 13.52 g/t, and 25 more added 900m, with lower-grade gold across roughly 4km. The 202-hectare lease application would let the company assess small-scale mining.

An older Tpg unit assayed up to 0.5 g/t, but small samples correlated poorly with visible gold, so 500kg bulk samples are planned subject to heritage clearance. Two orientation pits near Peninsula each gave visible gold, one a 48g specimen estimated at 10% gold.

Falcon Metals (ASX:FAL): Blue Moon

Jasmine and Lotus returned high-grade intercepts, including 3.0m at 13.6 g/t, and Magnolia added a fifth zone.

Three diamond rigs run continuously; 14 more pads approved.

Why These Updates Could Matter

Augustus Minerals: Linking top grades to vein orientation shapes how follow-up holes are angled, and the soil trend is three times longer than the drilled strike. Peregrine Gold: Alluvial grades vary sharply, so bulk samples test grade better than small channels. Falcon Metals: More strike and zones widen the tested area.

Final Word

Augustus Minerals (ASX:AUG), Peregrine Gold (ASX:PGD) and Falcon Metals (ASX:FAL) each issued quarterly exploration reports, summarised above using the figures in their filings.

FAQs

Q: Highest grade?

A: 19.5 g/t over 1m.

Q: Lease size?

A: About 202ha.

Q: Strike?

A: 850m.

Q: Which company applied for a mining lease?

A: Peregrine Gold, over about 202 hectares at Capricorn.

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