SUMMARY
• Follow up RC drilling has commenced at the Peake Project, South Australia, to test IOCG Targets AC23 and AC24
• Target AC23 has a significant 3.8 mGal gravity anomaly with a footprint of 1,400m by 800m, and is located on the fertile Karari Shear Zone
• A single diamond core hole drilled at Target AC23 earlier this year intersected multiple narrow intervals of typical IOCG elements including:
- copper up to 0.45%;
- gold up to 5.35 g/t Au;
- uranium up to 64 ppm; and
- IOCG pathfinder elements Ce+La up to 2025 ppm
• The six-hole program will take approximately three weeks to complete
• Diamond drilling has been completed at Target AC02 with logging and sampling underway
• The Company will release assays to the market as they become available and announce the next steps results dependant for both prospects
• Fully funded with $3.7M cash at bank – 30 Sep 2023 Quarterly Report
WATCH Get all the latest news with this new Investor Update and Presentation from CEO Duncan Chessell, recorded while in the field at the Peake Copper Project. (15min)
DETAILS
Two diamond core holes on Target AC02 have just been completed, hole ID 23PK05 to 571m on the magnetic target and hole ID 23PK06 to 703m on the gravity target, see Figure 2. Detailed logging, core cutting and sampling for assaying of selected intervals of these holes is underway.
The Company will release assays to the market as they become available and announce the next steps, results dependant, for both prospects.
Drilling complete at Target AC02
MORE INVESTOR UPDATES
FROM THE PEAKE PROJECT
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