Peako Limited has identified extensive, high-grade gold-bearing veins across its Saudi Arabian projects, including an 8km corridor at Wadi Jarir with samples up to 41.5 g/t gold, setting the stage for maiden drilling this October.
- 8km quartz-carbonate vein corridor at Wadi Jarir with visible gold
- New gold systems at Karak and Matar prospects with assays up to 22.9 g/t
- High-grade mineralisation confirmed at ancient Ad Dirabi Mine
- Maiden drilling program planned for early October 2026
- Acquisition of Saudi projects pending shareholder approval on 17 August
Major High-Grade Gold Discovery at Wadi Jarir
Peako Limited (ASX:PKO) has dramatically expanded the known scale and quality of gold mineralisation within its Kingdom of Saudi Arabia (KSA) portfolio, revealing an 8-kilometre-long quartz-carbonate vein corridor at the Wadi Jarir project. Rock chip samples from this corridor include standout assays of 41.5 g/t, 23.6 g/t, and 10.6 g/t gold, the latter containing visible gold; a rarity that signals exceptional potential.
Historical drilling in the area largely missed these veins, having targeted intervening low-grade zones. Peako now interprets previous wide but low-grade drill intercepts as halo alteration zones around a high-grade vein system, substantially enhancing the prospectivity of Wadi Jarir.
New Vein Systems at Sukhaybarat South
Beyond Wadi Jarir, Peako has uncovered two new gold-bearing vein systems at the Karak and Matar prospects within the Sukhaybarat project area. Karak boasts a vein system mapped continuously over 2km by 1.5km, with rock chip samples peaking at 9.1 g/t gold. Matar, located just 2.5km south of the operating 2-million-ounce Sukhaybarat Gold Mine, returned samples up to 22.9 g/t gold.
These discoveries are contextualised within a larger intrusion-related gold (IRG) system, supported by the identification of a highly fractionated, volatile-rich intrusive plug in the centre of the Sukhaybarat license. This geological feature is a hallmark of major IRG deposits globally, aligning Peako’s targets with prolific nearby mines such as Sukhaybarat and Bulgah.
High-Grade Mineralisation at Ad Dirabi
At the ancient Ad Dirabi Mine, reconnaissance mapping and sampling confirmed gold mineralisation over an 800-metre corridor, with assays up to 11.4 g/t. Additionally, a conceptual target south of the mine returned 8.4 g/t gold from a single rock chip sample, reinforcing the area’s exploration upside.
Strategic Next Steps and Shareholder Approval
Peako plans to follow up these promising reconnaissance results with high-resolution magnetic surveys and detailed mapping, aiming to commence its maiden drilling program in early October 2026. Initial drill targets include Sukhaybarat South, Wadi Jarir, and Jabal Jumaymah projects.
The acquisition of these KSA project interests is conditional on shareholder approval, with a meeting scheduled for 17 August 2026. The portfolio spans approximately 862 square kilometres in the Central Arabian Gold Region, a Tier-1 gold province with underexplored potential despite hosting multiple multi-million-ounce deposits.
Chairman Gernot Abl emphasised the significance of these early results: "This is an outstanding start to our exploration in Saudi Arabia. The discovery of large-scale gold systems from reconnaissance field work underscores the prospectivity of our KSA portfolio and validates our exploration and targeting strategy."
Bottom Line?
Peako’s early-stage reconnaissance has unveiled high-grade gold systems missed by prior drilling, with a maiden drilling campaign poised to test these compelling targets and unlock potential resource growth.
Questions in the middle?
- Will the maiden drilling program confirm continuity and scale of the high-grade veins at Wadi Jarir?
- How might the discovery of IRG indicators at Sukhaybarat influence Peako’s exploration strategy and resource potential?
- What impact will shareholder approval have on the timing and funding of Peako’s Saudi Arabian exploration plans?