- Peako (PKO) has commenced aircore drilling at its East Kimberley project in Western Australia
- The drilling program will test 10 priority targets across seven areas that have an array of prospective geological features
- Aircore drilling will help define the reverse circulation drill targets for testing later in the field season
- On market close, Peako is down 9.09 per cent and is trading at 4 cents per share
Peako (PKO) has commenced aircore drilling at its East Kimberley project in Western Australia.
The drilling program will test 10 priority targets across seven areas that have an array of prospective geological features.
Aircore drilling is planed along 100- to 200-metre-spaced lines across the target and results will help with defining the reverse circulation drill targets for testing later in the field season.
Notably, the drilling program is supported by two Western Australian Government Exploration Incentive Scheme co-funded drilling grants, totalling $320,000.
Earlier this month, Peako found two vein systems, Appaloosa and Gypsy, at the Eastman tenement.
Mapping of these new vein systems has commenced and continues to extend the known footprint of the vein system.
“We are pleased to have commenced aircore drilling as the first step in our multi-phase drilling campaign that will test a pipeline of target areas over the coming months,” Executive Director Rae Clark said.
“Having secured a multi-purpose track-mounted rig we are positioned to rapidly
follow-up encouraging aircore results with RC and/or diamond drilling,” she added.
On market close, Peako is down 9.09 per cent and is trading at 4 cents per share.