Peako Ltd. has completed the acquisition of six highly prospective gold projects in Saudi Arabia, paving the way for a maiden drill campaign set to kick off in late October.
Following shareholder approval, the company has secured an 862-square-kilometre footprint in Saudi Arabia’s Tier-1 Central Arabian Gold Region.
The portfolio contains a mix of drill-ready targets and earlier-stage exploration grounds situated near operating mines and multi-million-ounce deposits.
Recent field reconnaissance by Peako geologists significantly upgraded several prospects ahead of the upcoming program.
Mapping at Sukhaybarat South, located directly adjacent to the approximately two-million-ounce Sukhaybarat mine, uncovered two new high-grade vein systems, dubbed Matar and Karak, returning rock chip samples up to 22.9 grams per tonne (g/t) gold.
Meanwhile, surface sampling at Wadi Jarir delineated an eight-kilometre vein corridor with rock chip grades reaching up to 41.5 g/t gold.
With geophysics nearing completion, a drill rig has been secured to test five priority targets across the assets.
Initial drilling will target open high-grade intercepts at Sukhaybarat South, untested targets along the Wadi Jarir corridor, and outcropping vein systems at Jabal Jumaymah.
“Completing this acquisition is a major step for Peako, positioning us in Saudi Arabia’s emerging gold sector,” said Peako Chairman Gernot Abl.
“We have built a high-grade discovery platform across an exceptional geological setting that is significantly under-explored.”
To support its regional push, Peako has strengthened its leadership structure by appointing geologist Marcus Harden as non-executive director. Harden is a geologist with international discovery credentials.
He joins newly appointed Director Stephen McIntosh, Chairman Gernot Abl, and non-executive director Paul Kitto, alongside strategic advisers Tony Manini and Johan van Vuuren.
In-country operations are managed by Oliver Jones, an exploration specialist with over a decade of hands-on experience in the Saudi minerals sector.
