Join our daily newsletter At The Bell to receive exclusive market insights
- Peak Minerals (PAU) encounters impressive nickel-copper values at the Green Rocks Project in Western Australia
- Between August and November, 192 samples were collected from the project with a focus on the Rixon, Rinaldi, Tal Val, Copper Hills, Lady Alma and The Horn areas
- The aim of this work was to map out lithology variation to better understand the intrusions and mineralisation association
- Grades ranged up to 22.70 per cent copper with up to 1.29 per cent nickel, 7.78 g/t gold and 26.8 g/t silver also encountered
- Peak shares were flat trading at 1.3 cents
Peak Minerals (PAU) has encountered impressive nickel-copper values in drilling at the Green Rocks Project in Western Australia’s Murchison region.
Between August and November, 192 samples were collected from the project, 35 kilometres south-east of Meekatharra, with a focus on the Rixon, Rinaldi, Tal Val, Copper Hills, Lady Alma and The Horn areas.
The aim of the work was to map out lithology variation to better understand the intrusions and mineralisation association.
Of the 192 samples collected, 57 returned more than one per cent copper, 17 returned more than 5 per cent copper and six returned more than 10 per cent copper.
Grades ranged from 4.73 per cent copper to 22.70 per cent copper. Additionally, up to 1.29 per cent nickel, 0.42 per cent sulphur, 7.78 grams per tonne (g/t) gold and 26.8 g/t silver was intersected.
Further, 42 of the samples have been classified to be part of the prospective intrusions with a 3D model currently being created to highlight the structural complexity and better exhibit the intrusives.
“These results exceed our expectations from the preliminary mapping observations. We are not the first company to confirm copper on the ground, but we are the first to map individual intrusions that host copper,” CEO Jennifer Neild said.
“The evidence is stacking up that the source of this mineralisation is nearby. Ground geophysics is the next step, to get firm targets for our diamond drill program in May.
“The key to developing the prospect further is doing what previous explorers didn’t do, we aren’t chasing remobilised copper. We’re mapping where we are in the magmatic system through detailed geochemistry. This, with support from geophysics, will locate the best possible position to drill.”
Diamond drilling is set to begin in the second quarter to test the prospective targets.
Peak shares were trading in the grey at 1.3 cents at 1:20 pm AEDT.
