Peako Limited provided an update on field activities at its Eastman PGE Project in the Kimberley region of Western Australia where it will shortly commence a 4,500m RC drilling program.Peako has received Programme of Work (POW) approval for its upcoming reverse circulation (RC) drilling program and has completed all groundwork preparations . The drill rig is expected to arrive at the Eastman PGE Project in the coming days with drilling to commence in the first week of July. Peako's planned 4500m RC drill program is designed to complete first pass wide spaced testing across the Eastman Intrusion's 16.5km strike length to define zones with higher-grade stratabound PGE-rich mineralisation within the ultramafic complex.

The configuration of the drill program will incorporate multiple wide-spaced drill fences to test PGE endowment of thecomplete ultramafic stratigraphy. The drill program also includes a number of targeted drill sections defined from new and historical data including select area with elevated PGE soil and rock indicators at surface. Additional drill targets include testing of chromite-rich ultramafic layers across the intrusive complex as well as untested soil and rock anomalies, and VTEM target zones.

Dr. David Selley has completed the field component of a tectono-stratigraphic architectural study directed to define a framework for emplacement of the Eastman Intrusion, PGE mineralisation contained within it to assist drill hole targeting. Field work involved numerous mapping traverses across the intrusion to evaluate structural controls on emplacement and deformation history and the collection of rock samples at regular intervals for pXRF analysis to assist the definition of magmatic units making up the intrusion as well as Koongie Park Formation host rocks to the intrusion. Key rock samples from traverses have been submitted to the laboratory for analysis.