Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Peak Minerals (PUA) has received positive results from its maiden reverse circulation (RC) drilling program at the Copper Hills Project in WA
  • Seven RC holes were drilled with results confirming copper sulphide mineralisation remains open at depth
  • Results peaked at 1.6 per cent copper, and modelling of the mineralisation suggests the shear plunges and thickens to the south-southeast
  • Diamond drilling is currently in progress at the Lady Alma prospect to test an interpreted bedrock electromagnetic conductor
  • Due to rig issues, no RC drilling will be completed, but diamond drilling is expected to be completed near the end of the month
  • Shares in Peak are down 4 per cent on the market and are trading at 2.4 cents

Peak Minerals (PUA) has received positive results from its maiden reverse circulation (RC) drilling program at the Copper Hills Project.

The 9.2 square kilometre Copper Hills Project lies 42 kilometres south of Meekatharra in Western Australia.

Seven RC holes, for 1633 metres, were drilled with results confirming copper sulphide mineralisation remains open at depth.

Modelling of this mineralisation suggests the shear, which hosts the mineralisation, plunges and thickens to the south-southeast.

Best results include 37 metres at 0.67 per cent copper from 90 metres including 11 metres at 1.25 per cent copper and one metre at 1.6 per cent copper.

Additionally, an induced polarisation survey is now being planned to identify the extent of the dispersed mineralisation in the area.

“We are strongly encouraged by the early success of this program which has validated our targeting methodology. The extensions of this target provide a compelling follow-up target warranting further investigation,” Managing Director Wayne Loxton said.

“In addition, we have several look alike targets to the Copper Hills Prospect which provide multiple high priority exploration opportunities,” he added.

Diamond drilling is currently in progress at the Lady Alma prospect to test an interpreted bedrock electromagnetic conductor.

Due to rig issues, no RC drilling will be completed, but diamond drilling is expected to be completed near the end of the month.

Shares in Peak are down 4 per cent on the market and are trading at 2.4 cents at 1:13 pm AEDT.

PUA by the numbers
More From The Market Herald
North Stawell Minerals (ASX:NSM) - Non Executive Chairman, Jerry Ellis

" North Stawell Minerals (ASX:NSM) extends Gellatlys gold trend to 3.5km

North Stawell Minerals' (ASX:NSM) recent aircore drilling program has extended the Gellatlys gold trend to 3.5…

" Victory Goldfields (ASX:1VG) receives Coolgardie results

Victory Goldfields (ASX:1VG) has received results from its reverse circulation (RC) drilling program completed at the…
Orange Minerals (ASX:OMX)- Managing Director, David Greenwood

" Orange Minerals (ASX:OMX) posts first quarterly report since listing

Orange Minerals (ASX:OMX) reports its first activities quarterly report after listing on the ASX last month.

" Meeka Gold (ASX:MEK) observes mineralisation in all Margaret lode drill holes

Meeka Gold (ASX:MEK) observes mineralisation in every drill hole completed at its Murchison gold project in…