Peako Discovers Gold Mineralization in Saudi Arabia, with Top Grade of 41.50 g/t

en.Wedoany.com Reported - Australian mineral exploration company Peako (ASX:PKO) has confirmed the presence of extensive gold systems at its Wadi Jarir, Sukhaybarat, and Ad Dirabi project areas in Saudi Arabia, with rock chip samples returning gold grades of up to 41.50 grams per tonne (Au).

At the Wadi Jarir project area, mapping has defined an 8-kilometer-long quartz-carbonate vein corridor, with rock chip samples yielding gold grades of up to 41.50 g/t, 23.60 g/t, and 10.60 g/t, with visible gold observed in the samples. Peako stated that historical drilling has largely not tested these veins.

At the Sukhaybarat project area, the company has discovered two new gold-bearing vein systems: rock chip samples at Karak returned gold grades of up to 9.10 g/t, while samples at Matar returned grades of up to 22.90 g/t.

At the ancient Ad Dirabi mining district, gold mineralization has been delineated along an 800-meter-long corridor, with gold grades of up to 11.40 g/t.

Peako Chairman Gernot Abl stated that these discoveries mark a strong start to the company's exploration efforts in Saudi Arabia. He said: "The large-scale gold systems identified through field reconnaissance highlight the prospectivity of our Saudi Arabian portfolio and validate the company's exploration and target selection strategy."

Peako's project portfolio comprises six projects covering approximately 862 square kilometers within the Central Arabian Gold Region.

The company plans to conduct magnetic surveys and geological mapping as follow-up work ahead of initial drilling scheduled for early October.

The acquisition of interests in the aforementioned projects remains subject to approval at the shareholders' meeting on August 17.

Peako is a mineral exploration company focused on the discovery and development of gold assets, with its primary exploration focus in the Central Arabian Gold Region.