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- Peak Minerals (PUA) receives a $132,000 grant from the WA Government’s Exploration Incentive Scheme for the Earaheedy Project in Western Australia
- The grant will be used to fund 50 per cent of the direct drilling costs with two diamond holes planned at the Cork Tree prospect
- The aim of this drilling is to define the source and style of the mineralisation, map key stratigraphic units, define structural conduits and test newly defined VTEM anomalies
- There were 103 applications for the grant and Peak was one of the 47 successful candidates
- Peak ends the day in the grey with shares trading at 1.2 cents
Peak Minerals (PUA) has received a $132,000 grant from the WA Government’s Exploration Incentive Scheme for the Earaheedy Project in Western Australia.
The grant will be used to fund 50 per cent of the direct drilling costs with two diamond holes planned at the Cork Tree prospect.
The aim of this drilling is to define the source and style of the mineralisation, map key stratigraphic units, define structural conduits and test newly defined VTEM anomalies.
There were 103 applications for the grant and Peak was one of the 47 successful candidates.
Drilling is expected to take place in early Q4 and Peak will use the data to help understand the stratigraphic and structural controls on the mineralisation and attempt to define the source of the mineralisation.
“This is a fantastic result for our Earaheedy exploration plan. We’re straddling the western nose of the Earaheedy Basin, but we need to get a better handle on the stratigraphy and which units are associated with mineralisation,” CEO Jennifer Neild commented.
“There are indications in the geochemical data that we’re looking for a VMS source rather than SEDEX. In addition, we’ve obtained historical VTEM data and have completed reprocessing and defined a conductive zone 200 metres below surface that hasn’t been assessed.”
Peak has ended the day in the grey with shares trading at 1.2 cents.
