Peako (ASX:PKO) confirms ‘extensive’ gold systems across its Wadi Jarir, Sukhaybarat, and Ad Dirabi project areas in Saudi Arabia, with reports of rock chip samples up to 41.50 grams per tonne gold (Au).
At Wadi Jarir, mapping identified an 8km long quartz-carbonate vein corridor with rock chip samples ranging up to 41.50g/t Au, 23.60g/t Au, and 10.60g/t Au, including visible gold. Peako notes historical drilling largely missed these veins.
Two new gold-bearing vein systems were also discovered in the Sukhaybarat project area. Rock chip samples returned up to 9.10g/t Au at Karak and up to 22.90g/t Au at Matar.
At the ancient Ad Dirabi Mine, gold mineralisation was defined over an 800m corridor, returning up to 11.40g/t Au.
Chairman Gernot Abl says the discoveries mark an ‘outstanding’ start to the company’s exploration in Saudi Arabia.
“The discovery of large-scale gold systems from reconnaissance field work underscores the prospectivity of our KSA portfolio and validates our exploration and targeting strategy,” Abl says.
Peako’s portfolio comprises six projects covering approximately 862km² in the Central Arabian Gold Region.
The company is following up with magnetic surveys and mapping ahead of a maiden drilling program in early October.
Acquisition of the project interests is subject to shareholder approval on 17 August.
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: Mining.com.au
