Peako Limited advised that a 4500m reverse circulation (RC) drill program has commenced at its Eastman PGE Project in the Kimberley region of Western Australia; a large underexplored layered mafic to ultramafic intrusive complex that Peako considers prospective for a major PGE resource. Peako's 4,500m RC drill program comprises a series of wide-spaced drill fences to test PGE endowment across the ultramafic stratigraphy along the Eastman Intrusion's 16.5km strike length. Drilling will also test PGE endowment of a number of priority targets defined by new and historical data and VTEM geophysical anomalies.

Peako's compilation of historical data and anomalous PGE intercepts indicate an extensive PGE-mineralised system with historical drilling focused on evaluating narrow and discontinuous chromite lenses within the ultramafic sequence rather than the entire ultramafic host rock package. Peako's recent field activities continue to support stratabound PGE mineralisation throughout the ultramafic intrusion and not limited to the chromite horizons. The drill program targets, where possible, drill sections defined from new and historical elevated PGE in both soil and rock-chips together with VTEM geophysical anomalies.