Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Peak Resources in trading halt pending Ngualla rare earth project drilling results


Peak Resources (ASX: PEK) has been granted a trading halt by the ASX pending the release of information regarding exploration drilling results at the Ngualla rare earth project in Tanzania.

The company expects to make an announcement on or before the commencement of trading on Thursday 4th August.

Peak Resources has been continuing reverse circulation and diamond drilling campaign at the project where 14 angled reverse circulation holes for 1760 metres were completed in June to the planned depth of 120 metres, with initial assays expected shortly.

Sample recoveries have improved this year compared to last year, with consistently higher sample weights and less variation in sample size achieved in this early phase of the program. Added to the improved samples is a faster exploration rate, with drill rig production rates improved due to more powerful equipment.

Drilling at the project is designed to provide sufficient data for an initial JORC Resource to be completed for both the bedrock and alluvial zones of rare earth mineralisation, which were discovered by the company in 2010.

Rare earth mineralisation was intersected by previous drilling in the Southern Rare Earth Zone at Ngualla, and is enriched in the weathered zone of the carbonatite.

View full PEK profile View Profile

Peak Resources Ltd Timeline

January 30 2015
October 22 2014

Related Articles

January 18 2018
NextSource Materials Inc (TSE:NEXT) (OTCQB:NSRCF) may just be the best graphite company few investors know of.
Sample from Thackaringa Cobalt Project
September 05 2018
Recent pre-feasibility study confirmed that the Thackaringa project is of global significance as a potential source of high-purity cobalt for the battery revolution.
June 13 2018
Lac Guéret Extensions is adjacent to one of the highest grade graphite projects in the world

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use