Peako's PGE project wA

Peako completes first half of 4,500m Eastman PGE drill program in WA

Peako Limited (ASX:PKO) reports it has now completed 19 reverse circulation (RC) drillholes for 2,448m at the Eastman PGE Project in the Kimberley region of Western Australia.

The drilling is the first half of a 4,500m RC drilling program which is testing PGE endowment across the ultramafic stratigraphy at the Eastman PGE Project.

Commencing in the east of the Eastman Intrusion, nine wide-spaced drill fences have now been drilled across four prospects. All of these prospects are coincident with both historically defined Versatile Time-Domain Electromagnetic (VTEM) anomalies and soil geochemistry anomalies in Pt, Pd and Au.

Commenting on the drill program, Peako Technical Director, Dr Paul Kitto said: “Although laboratory assays are required to confirm the tenor of any PGE mineralisation that may be present, the visual observations of disseminated chromite horizons, as well as commonly observed disseminated sulphides, in association with previous historical drill results are encouraging indicators of the potential for PGE mineralisation.

“These visual observations provide further support for the thesis that PGE mineralisation occurs throughout the ultramafic intrusions”

These visual observations provide further support for the thesis that PGE mineralisation occurs throughout the ultramafic intrusions.”

Peako’s 4,500m RC drill program was designed as a first-pass test of PGE endowment across the ultramafic stratigraphy along the Eastman Intrusion’s 16.5km strike length where historical data and anomalous PGE intercepts indicate an extensive PGE-mineralised system.

Visual observations of the RC drill chips from 19 RC drill holes confirm the occurrence of ultramafic-mafic sequence at all prospects drilled to date and together with historical intercepts support the potential for PGE mineralisation.

The company reports that drillholes have intersected the targeted mafic and ultramafic horizons within the intrusive complex.

Disseminated chromite horizons together with minor disseminated sulphides up to 5% (pyrite, pyrrhotite, and chalcopyrite) have been visually observed in some locations within the ultramafic rock units.

The first batch of samples have been submitted to Intertek Genalysis in Perth for laboratory analysis with further samples to be dispatched shortly.

First assay results are anticipated in 5 to 7 weeks.

The drilling program is continuing with the remaining drill fences across the western extensions of the Eastman Intrusion anticipated to be completed by the end of August.

Images: Peako Limited
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.