- Peako (PKO) has officially commenced its 2021 field program at the East Kimberley Gold-Copper Project in Western Australia
- The exploration team is doing the final prep work ahead of an initial aircore drilling program which will begin next month
- Peako has identified 29 prospective drill targets which will be followed up in the aircore program and through reverse circulation drilling later this year
- Pleasingly, the company is getting $320,000 under the WA Government’s Exploration Incentive Scheme
- The money will be put towards direct drilling and the remaining $20,000 will be used for mobilisation costs
- Peako ended the day 6.67 per cent in the green with shares closing at 3.2 cents
Peako (PKO) has officially commenced its 2021 field program which is focussed on the East Kimberley Gold-Copper Project in Western Australia.
The exploration team has moved to the project area to undertake final target validation and preparation work for a phase one aircore drilling program. This program is expected to begin next month and will drill between 6000 and 8000 metres.
Twenty nine prospective drilling targets have been defined using data Peako has carefully compiled and will be followed up, along with targets defined in the upcoming aircore program.
“We are excited to finally have our people in the field preparing for our imminent drill program,” Executive Director Rae Clark said.
The East Kimberley region is home to multiple gold deposit styles such as intrusion-related, orogenic and epithermal mineralisation. For reference, the WA Government has documented approximately 260 vein and hydrothermal gold occurrences across the region.
As a testament to the region’s potential, Peako’s field program is being supported by two Western Australian Government exploration incentive schemes (EIS) which will provide $320,000 in grants.
Specifically, one EIS grant is for $150,000 and will cover 50 per cent of drilling costs incurred by June 30. The other grant is for a further $150,000 amount for 50 per cent of drilling costs incurred before December 31, 2021, as well as up to $20,000 towards mobilisation costs.
Peako ended the day 6.67 per cent in the green with shares closing at 3.2 cents.