Source: Peako
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Peako (PKO) intersects up to 6.2 grams per tonne (g/t) gold following drilling at the Landrigan Prospect within its East Kimberley Project in WA
  • A ‘scout’ reverse circulation program at the prospect intersected gold-silver-lead-copper mineralisation
  • One intercept extended the strike of mineralisation to around 300 metres, remaining open to the north-east
  • Peako plans to continue its work program at Landrigan to expand the current footprint of mineralisation, including strike and depth extensions of known mineralisation
  • Peako last traded at 2.1 cents on January 13.

Peako (PKO) has intersected up to 6.2 grams per tonne (g/t) gold following drilling at the Landrigan Prospect within its East Kimberley Project in WA.  

A ‘scout’ reverse circulation program completed in September saw 30 holes drilled for 1,249 metres across six prospects.

Eight of the holes were drilled at the Landrigan Prospect totalling 449 metres to test the near surface continuation of gold and base metal mineralisation, intersected in previous drilling.

The program intersected gold-silver-lead-copper mineralisation with results including 4 metres at 6.2 g/t gold from 11 metres, and 13 metres at 40.7 g/t silver from 11 metres.

This intercept extended the strike of mineralisation previously intersected in historical drilling by a further 80 metres to around 300 metres, remaining open to the north-east.

The Landrigan Prospect was originally identified by BHP as a base metal prospect, however Peako later recognised the prospect’s gold potential following results of its 2019 reverse circulation drill program.

Peako said it plans to continue its work program at Landrigan to expand the current footprint of mineralisation, including strike and depth extensions of known mineralisation.

Peako last traded at 2.1 cents on January 13.  

PKO by the numbers
More From The Market Online
The Market Online Video

Market Close: Autumn’s ASX200 record breaking start

The ASX200 has closed the first day of Autumn at a new record 7745.6 points -…
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.

Week 9 Wrap-up: ASX hits 2 new ATHs on US inflation + the headlines that mattered

What a week. As US markets continue to go crazy after the American earnings season (read: NVIDIA), the ASX has done the same. 
OBM

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…