Peako Limited Reports High-Grade Gold Veins at Wadi Jarir and Matar, Porphyry Signal at Karak in Saudi Arabia

Aditi Sarkar

11 November 2026 12:32 PM AEDT

Peako Limited Reports High-Grade Gold Veins at Wadi Jarir and Matar, Porphyry Signal at Karak in Saudi Arabia

Image Source: Krish Capital Pty Ltd

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Peako Limited (ASX:PKO) has disclosed new rock chip sampling results from its Kingdom of Saudi Arabia exploration projects, with high-grade gold-bearing veins identified at Wadi Jarir returning up to 16.6 g/t Au, an extension of 500 metres to the Matar vein system with grades up to 19.5 g/t Au, and multi-element geochemistry at Karak indicating a porphyry or intrusion-related gold mineral system.

Key Points

New rock chip samples at Wadi Jarir returned grades up to 16.6 g/t Au, 15.8 g/t Au and 13.9 g/t Au, extending the mineralised vein corridor to 9km.
The Matar vein system was extended by approximately 500 metres, with rock chip samples returning up to 19.5 g/t Au, 15.1 g/t Au and 14.2 g/t Au.
Multi-element geochemistry at Karak revealed gold-copper-molybdenum anomalism characteristic of a porphyry or reduced intrusion-related gold system, with copper readings up to 1,332 ppm and molybdenum up to 789 ppm.
Approximately 400 new vein targets have been identified at Wadi Jarir and Karak from high-resolution drone photogrammetry, with field reconnaissance and sampling in progress.
A maiden KSA drilling program is expected to commence in December 2026, pending rig arrival.

Wadi Jarir Rock Chip Results and Vein Corridor Extension

Phase two mapping and sampling at Wadi Jarir identified multiple new high-grade gold-bearing veins, with rock chip sample L156534 returning 16.6 g/t Au and 5.3 g/t Ag, sample L156423 returning 15.8 g/t Au and 15.4 g/t Ag, and sample L156523 returning 13.9 g/t Au and 59.7 g/t Ag. The results extend the mineralised vein corridor to 9 kilometres. Significant silver mineralisation was also identified at Wadi Jarir South, with rock chip sample L156501 returning 74.5 g/t Ag. Historical wide-spaced drilling at the prospect is interpreted to have largely targeted zones between primary veins, missing the main structures. The upcoming drilling program will directly test the high-grade vein system.

Matar Prospect 500-Metre Vein Extension

The Matar Prospect is located 2.5 kilometres south of the Sukhaybarat Gold Mine and 3 kilometres northeast of the company's Redhill SE Prospect. Follow-up work by Peako geologists extended the outcropping vein system by approximately 500 metres. New rock chip samples returned grades including 19.5 g/t Au from sample L156351, 15.1 g/t Au from sample L156350, 14.2 g/t Au from sample L156349, and 12.7 g/t Au from sample L156343. Mineralisation at Matar is hosted along the margins of the same Tonalite intrusive suite that hosts the Sukhaybarat gold deposit. The filing noted that multi-element geochemistry results for Matar had not yet been received from the laboratory.

Karak Porphyry Geochemical Signature

Multi-element results at Karak revealed a geochemical signature described in the filing as characteristic of a porphyry gold-copper-molybdenum or reduced intrusion-related gold system. Karak covers a 2 kilometre by 1.5 kilometre outcropping vein system, with previous rock chips returning up to 9.1 g/t Au. New results include sample L156370, which returned 6.3 g/t Au, 4.2 g/t Ag, 50 ppm Mo and 832 ppm Cu, and sample L156420 returning 1,332 ppm Cu. The filing stated the geochemistry supports the potential for a larger magmatic system beneath the vein system mapped at surface. Approximately 400 new vein targets at Wadi Jarir and Karak were identified from drone photogrammetry, with field reconnaissance ongoing.

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