Peak Minerals Limited (ASX: PUA) (Peak Minerals or the Company) is pleased to announce results from its drill program at the Earaheedy Project completed in June 2021. The purpose of the drill program was to:

  1. Test previously identified, near surface, copper anomalism and
  2. Test the potential for basement mineralisation at the Cork Tree and Merah Prospects.

Highlights:

  • Drilling confirms and extends historic copper mineralisation at Cork Tree and Merah Prospects
  • 26 air core holes drilled totaling 1,280m, intersections of particular interest were:
    • 3m @ 1.57% Cu from 86 m to EOH
      • Including 1m @ 2.16% Cu
    • 4m @ 1.2% Cu from 21m (EHAC0024)
      • including 1m @ 4.12% Cu
    • 6m @ 0.35% Cu from 27m (EHAC0022)
    • 3m @ 0.31% Cu from 52m (EHAC0024)
  • A mineralisation envelope (1.1km by 2.0km) defined by historic sampling programs has been extended to the south by 1km and indicates proximity to primary mineralisation.
A total of 26 holes were drilled with a final meterage of 1,280m (See Appendix A: Table 1). Drilling was aimed at stepping out from recorded historic mineralisation, except for two holes which were drilled within 10m of known mineralisation to confirm grades. Stepping out from the mineralised envelope yielded significant results; 1.57% copper in EHAC0012 from 86m (See Figure 1). The mineralisation is hosted in sediments with chert horizons. The full extent of this mineralisation at depth is not known as the hole ended early when the rig was unable to penetrate further. Summary of intersections are shown in Table 1.


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