- Peako (PKO) is gearing up for an exploration campaign at its portfolio of copper-gold tenements in Western Australia’s East Kimberley region
- The company has defined 29 prospective targets across nine prospect areas on the Eastman tenement
- An extensive database has been compiled using geochemical and geophysical data gathered over the last 50 years
- Final field checking is due to begin in April with more than 6000 metres of airfare drilling scheduled to start in May
- Peako is up 8.7 per cent to 2.5 cents per share
Peako (PKO) is gearing up for an exploration campaign at its portfolio of copper-gold tenements in Western Australia’s East Kimberley region.
The company has defined 29 highly prospective targets across nine prospect areas on the Eastman tenement. These were identified using an extensive database that features 50 years of geochemical and geophysical information, along with recently acquired satellite spectral alteration indicators.
Final field checking is expected to begin in April at the conclusion of the wet season, with more than 6000 metres of aircore drilling scheduled to begin in May.
Peako has already secured field personnel, contracted an aircore drill rig and received work approval from the Western Australian government. The company aims to have a continuous presence in the East Kimberley region to rapidly advance its holdings.
Previous reverse circulation drilling completed in 2019 at the Landrigan prospect discovered latent gold potential, with results including six metres at 1.16 grams per tonne of gold and 27.27 grams per tonne of silver, as well as seven metres at 1.1 grams per tonne of gold and 7.51 grams per tonne of silver.
“We are approaching a defining moment, with our focus on more than 25 targets across 9 key prospects developed in our E80/4990 Eastman tenement,” said Geoff Albers, Chairman of Peako.
“In addition, we continue to identify further prospectivity across our Wirana E80/5182 tenement immediately to the north of our Eastman tenement,” he added.
The work at Wirana will include reconnaissance mapping and rock sampling in preparation for drill testing later in the season.
Peako is up 8.7 per cent to 2.5 cents per share at 1:08pm AEDT.