Peako Limited (ASX:PKO) has applied for additional ground adjacent to its existing tenements in the underexplored belt-scale East Kimberley copper province.
If approved, this will increase the company’s tenement package to about 1,200 square kilometres.
Like Peako’s other two tenements the new ground is prospective for volcanic-hosted massive sulphide (VHMS) deposits comprising the Proterozoic exploration terrane of the Halls Creek Oregony.
The company’s East Kimberley copper exploration strategy focuses on VHMS deposits in order to leverage from the impending global copper supply shortfall.
“Commanding presence” in the East Kimberley
Peako chairman Geoff Albers said: “We are pleased to have built a commanding presence in the emerging East Kimberley copper province.”
The company’s East Kimberley tenements have historically been sparsely and sporadically explored for a wide range of mineralisation styles and commodities over a large area.
Historical exploration was primarily guided by surface gossans and geochemical anomalies with only the more significant geochemical anomalies tested by limited shallow drilling.
Prior use of geophysical methods including VTEM survey were ineffective at identifying mineralisation, including that identified by drilling.
In late 2018 Peako conducted an induced polarisation (IP) survey program consisting of both Gradient Array IP (GAIP) and Dipole IP (DDIP) at each prospect.
The IP surveys detected the known mineralisation at each prospect, validating the IP method.
The company is now preparing to drill test each prospect along strike of the known mineralisation with support of a $150,000 Environment Incentive Scheme drilling grant from the Western Australian government.