Peako Limited has identified multiple gold-bearing vein systems across its Kingdom of Saudi Arabia project portfolio, with reconnaissance rock chip sampling returning grades of up to 41.5 g/t gold. The results, emerging from mapping and sampling programs initiated following the company's acquisition of an 862km² exploration package in June 2026, have highlighted previously unrecognised high-grade structures.

At the Wadi Jarir project, field teams delineated an 8km-long quartz-carbonate vein corridor. Rock chip samples from this area included results of 41.5 g/t, 23.6 g/t, and 10.6 g/t gold, with visible gold identified in the latter. Peako notes that previous exploration efforts in the area had focused on broad intervals of low-grade mineralisation and largely failed to intersect these primary vein systems.

In the Sukhaybarat project area, new gold-bearing systems were discovered at the Karak and Matar prospects. Mapping at Karak identified a vein system spanning 2km by 1.5km, with rock chip samples grading up to 9.1 g/t gold. At Matar, located 2.5km south of the operating Sukhaybarat gold mine, mapping revealed a series of veins returning grades up to 22.9 g/t gold. Additionally, sampling at the Ad Dirabi prospect returned grades of up to 11.4 g/t gold from ancient mine workings, alongside a conceptual target to the south that yielded 8.4 g/t gold.

“This is an outstanding start to our exploration in Saudi Arabia. In our first mapping and sampling campaign we've discovered two new gold systems at Sukhaybarat South and defined an 8km high-grade vein corridor at Wadi Jarir that was missed by historical exploration drilling. High-grade mineralisation has also been discovered south of the ancient Ad Dirabi Mine.”

“The discovery of large-scale gold systems from reconnaissance field work underscores the prospectivity of our KSA portfolio and validates our exploration and targeting strategy.”

— Gernot Abl, Chairman

Peako has shifted its strategic focus toward Saudi Arabia and recently appointed Johan van Vuuren as a Strategic Adviser to lead these exploration initiatives. The company is currently preparing for a maiden drilling program across its KSA portfolio and expects to release further assay results from its ongoing sampling programs in the near term.

Read the full announcement: Extensive gold systems discovered - KSA project rock samples