Peako (ASX:PKO) has appointed former Rio Tinto (ASX:RIO) executive Stephen McIntosh as non-executive director to strengthen its Saudi Arabian gold strategy.
McIntosh brings 39 years of global mining experience, including 33 years with Rio Tinto, where he served as group executive, growth and innovation and global head of exploration.
He currently serves as senior adviser to EMR Capital and Chalice Mining (ASX:CHN) regarding the Gonneville Project, and provides strategic advice to Andina Copper (TSX-V:ANDC), Cobra Resources (LSE:COBR), IMDEX (ASX:IMD), Genesis Minerals (ASX:GMD), and Rio Tinto.
Chairman Gernot Abl says McIntosh brings a level of technical and commercial knowledge in exploration and ore deposit quality “that few in our industry can match”.
“[Stephen’s] experience and networks will be of great value as Peako rapidly advances its Saudi Arabian portfolio towards drilling evaluation and further builds out its project pipeline,” Abl says.
According to McIntosh, Peako holds ground in one of the few ‘genuinely underexplored’ tier one gold provinces still opening to new entrants.
“I look forward to working with the board and the exploration team as the company moves to consolidate its exploration footprint and move to drilling,” McIntosh says.
Peako also acknowledges Rae Clark, who resigns from the board but will continue supporting the company in an advisory capacity after 14 years of service.
The company’s 862km² Saudi Arabian portfolio comprises six projects located within 65km of operating gold mines, including positions neighbouring the 2-million-ounce (Moz) Sukhaybarat and 3.4Moz Bulghah gold mines.
Three prospects host drill-ready targets with ‘high-grade’ historical intercepts, including 4m @ 11.32 grams per tonne gold (Au), 7m @ 10.12g/t Au, and 2m @ 13.53g/t Au.
Peako expects to commence first drilling across multiple high-priority targets in Q3 2026.
Peako is a mineral explorer focused on the discovery and development of gold assets, particularly in the Central Arabian Gold Region.
Write to Paula Fabe at Mining.com.au
Images: Peako
