Peak Minerals (ASX:PUA) Begins Phase Two Drilling at Green Rocks – The Market Herald

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  • Peak Minerals (PUA) begins second phase of core drilling on the Green Rocks project in WA
  • Drilling tests geochemical and geophysical anomalies in the Tal Val and Target B zones, which the company considers to be magmatic intrusions
  • The company says this program is an “important next step” in recognizing Tal Val and Target N as part of the Lady Alma igneous complex.
  • Upon completion of the air core drilling, Peak will create a geological model to aid in a geophysical survey to map disseminated sulphides and confirm conductors
  • PUA shares are trading up 8.33% at 1.3 cents

Peak Minerals (PUA) has started the second phase of core drilling on the Green Rocks project in Western Australia.

The drilling aims to test geochemical and geophysical anomalies in the Tal Val and Target B zones, which are believed to be magmatic intrusions.

The phase one program was undertaken late last year and included over 2,400 meters in the Rixon, West Copper Hills and Target C areas.

“Phase two of the air drill program is an important next step in recognizing Tal Val and Target B as part of the Lady Alma Igneous Complex,” said CEO Jennifer Neild.

“We have worked on geochemistry at Rixon and we can apply this characterization to Tal Val and Target B effectively reducing work times,” she said.

The company hopes the analyzes will confirm the presence of the Lady Alma igneous complex, map the geology and contacts, and confirm the presence or potential for magmatic sulphides.

Once the second phase is complete and the heli-electromagnetic (EM) data processed, Peak will create a detailed geological model that will refine the position of the ground geophysical survey to map the disseminated sulphides and confirm the conductors.

A detailed electromagnetic/induced bias program is expected to commence during the June quarter.

PUA shares were trading up 8.33% to 1.3 cents at 1:25 p.m. AEDT.