Peak Minerals Discloses Heavy Mineral Assays After 452 Drill Holes at Minta
Peak Minerals Limited has disclosed previously withheld heavy mineral assay results from its Minta Rutile Project following an ASX price query, shedding light on recent trading activity.
- Disclosure of heavy mineral assay results from Minta Rutile Project
- Results received on 24 June 2025, reviewed and validated by 30 June
- Reconnaissance drilling program ongoing with 452 of 564 holes completed
- Further assay batches expected from mid-July 2025
- Company confirms compliance with ASX continuous disclosure rules
Background to the ASX Price Query
Peak Minerals Limited (ASX, PUA) recently faced an ASX price query following unusual trading activity, including a price rise from $0.028 to $0.032 and a significant volume increase. The ASX sought clarity on whether the company was in possession of any material information not yet disclosed to the market that could explain this movement.
Disclosure of Minta Rutile Project Assay Results
In response, Peak Minerals confirmed it held heavy mineral (HM) assay results from its Minta Rutile Project that had not been released due to ongoing quality assurance and quality control (QA/QC) processes. These results were received by the company’s Competent Person on 24 June 2025 but only reviewed and validated by 30 June due to scheduling and travel constraints.
The company released these assay results concurrently with its ASX response, explaining that the delay was necessary to ensure the accuracy and reliability of the data before public disclosure. This transparency aligns with Peak Minerals’ commitment to maintaining market integrity and compliance with ASX Listing Rules.
Ongoing Exploration and Future Assay Results
Peak Minerals is actively conducting a reconnaissance drilling program at Minta, targeting an initial 3,500 square kilometers with broad drill spacings to identify higher-grade zones for more detailed infill drilling. To date, 452 of 564 planned drill holes have been completed, with assay results for 278 holes already released.
The remaining 174 holes have been sent to an independent laboratory in Cape Town, South Africa, with results expected to start arriving in batches around 11 July 2025. The company emphasized that samples are sent on a blind basis to maintain confidentiality and integrity, with only the Competent Person having access to the corresponding data.
Compliance and Market Implications
Peak Minerals confirmed it has complied fully with ASX Listing Rules, particularly continuous disclosure obligations under Listing Rule 3.1. The company also implemented a trading halt to manage the timing of the announcement and ensure a fair and orderly market.
Notably, the company had previously announced on 25 June 2025 that rutile is the dominant titanium-bearing mineral at Minta, a key factor for investors assessing the project’s potential. Additionally, an independent research note by Fosters Stockbroking was released on 30 June, possibly contributing to market interest.
Looking Ahead
With further assay results pending and ongoing drilling, Peak Minerals is poised to provide more data that could refine the understanding of the Minta Rutile Project’s resource potential. Investors and analysts will be watching closely for how these results translate into resource upgrades or development plans.
Bottom Line?
Peak Minerals’ timely disclosure and ongoing drilling program set the stage for potential resource milestones in the coming months.
Questions in the middle?
- How will the newly released assay results impact the estimated resource size and grade at Minta?
- What are the implications of the pending assay batches for project development timelines?
- Could the recent market activity signal growing investor confidence ahead of further announcements?
