Peako has a tenement package covering more than 1200km2 in the East Kimberley Region of Western Australia comprised of three exploration licenses (two granted and one at application stage).
The tenement package is largely located on Louisa Downs Station, 120km to the southwest of the Halls Creek. Access to the tenements is via the Great Northern Highway and station tracks.
Eastman Project Tenement
Peako is earning a 60% interest in the Eastman Tenement.
Two styles of mineralisation have been the subject of discontinuous exploration during the past 50 years:
Disseminated, vein and stratabound copper-zinc-lead-silver and gold mineralization within metamorphosed felsic volcanics and sediments of the Koongie Park Formation; and Nickel-copper-platinum group metals mineralization associated with multiple stacked chromite seams and chromite bearing ultramafic in the Upper and Lower ultramafic phases of the Eastman Bore (Sally Downs Gabbroic) layered intrusion.
In the past, exploration has been primarily guided by surface gossans and geochemistry and only the more significant geochemical anomalies have been tested by limited and wide-spaced drilling. Most previous exploration targeted the southeast quadrant of the tenement and numerous wide-spaced drill intercepts of strongly anomalous mineralisation have not been effectively explored. In the western part of the tenement geochemical and magnetic targets remain untested beneath extensive transported sand and gravel cover.
Wirana Project Tenement
Peako has a 100% interest in the Wirana Project exploration licence (E80/5182).
Previous exploration in the Wirana tenement has been sparse and sporadic, with a small number of explorers having pursued a wide range of mineralisation styles for different commodities over a large area.
Wide-spaced and generally shallow drill intercepts of anomalous gold and base metal mineralisation have been identified, but not effectively followed up.