Peako Unveils High-Grade East Kimberley Discoveries and Secures $1.8M Capital Boost

• Significant base and precious metal assays from Eastman Project rock chip samples
• Granting of new tenements targeting lithium and rare earth elements in East Kimberley
• Completion of a $1.8 million placement to fund exploration and new opportunities
• Appointment of Dr. Louis Bucci as Technical Director to lead exploration efforts
• Cash balance strengthened to over $2 million post-placement

Exploration Highlights in East Kimberley

Peako Limited (ASX: PKO) has delivered a robust quarterly update for the period ending 31 December 2024, spotlighting promising exploration results from its East Kimberley tenements in Western Australia. The company’s focus remains on the Koongie Park Formation and Eastman Intrusive Complex, where diverse mineralisation styles have been identified, including volcanogenic massive sulphide (VMS) base metals and magmatic Ni-Cu-PGE systems.

Recent rock chip sampling at the Eastman Project has confirmed high-grade mineralisation, with standout assays such as 14% copper, 226 g/t silver, and 2.36% lead at Bullock's Bore, and an exceptional historic sample revealing 336 g/t gold alongside significant copper and lead. These results reinforce Peako’s earlier findings and underscore the potential for multi-commodity deposits within the tenement package.

New Tenements and Lithium Potential

During the quarter, Peako secured two new exploration licenses, E80/5703 and E80/5704, expanding its footprint in the East Kimberley region. These tenements are prospective for lithium and rare earth elements, marking a strategic diversification beyond base and precious metals. The Minneroo Pool Lithium Project within E80/5703 has revealed evidence of lithium-bearing pegmatite systems and large alkaline granitoid bodies, with no prior lithium exploration recorded in the area.

Satellite imagery and radiometric data interpretation have identified multiple pegmatite targets for future field validation, positioning Peako to potentially tap into the growing demand for lithium and associated critical minerals.

Financial Position and Corporate Developments

Peako successfully completed a placement raising approximately $1.8 million through the issue of over 600 million shares and accompanying options. This capital injection will underpin ongoing exploration activities and support the evaluation of new project opportunities. Following the placement, the company’s cash reserves have increased to over $2 million, providing a solid financial platform for its growth ambitions.

In a move to strengthen its technical leadership, Peako appointed Dr. Louis Bucci as Technical Director. Dr. Bucci’s elevation from Non-Executive Director will enable him to dedicate his expertise to advancing the company’s exploration programs and conducting technical due diligence on prospective acquisitions.

Looking Ahead

Peako is currently reviewing the various mineralisation styles and metal associations across its tenements, informed by detailed geological and structural mapping led by external consultant Dr. Dave Selley. This reinterpretation aims to refine target prioritisation for upcoming exploration campaigns. The company’s strategic expansion into lithium and rare earth elements, combined with strong base and precious metal results, positions it well to capture value in a dynamic minerals market.

Bottom Line?

Peako’s blend of high-grade discoveries and fresh capital sets the stage for an active and potentially transformative exploration year ahead.

Questions in the middle?

• How will Peako prioritise exploration between its base/precious metals and new lithium targets?
• What are the timelines and budgets for drilling programs following the recent geological reinterpretation?
• Could further capital raises be necessary if exploration results prompt accelerated development?