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Peak Minerals hits heavy rutile mineralisation in maiden drilling at Minta project in central Africa

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By Imelda Cotton - 
Peak Minerals ASX PUA assays Minta Rutile Project Cameroon
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Initial results from maiden reconnaissance drilling at Peak Minerals’ (ASX: PUA) Minta project in Cameroon have confirmed the discovery of a significant new rutile province.

Assays from the first 12 holes for a total of 56 metres hit significant heavy minerals (HM) from surface, with best intercepts of 4.7m at 2.9% HM and 4.2m at 2.4% HM.

The initial results were located approximately 25km from the project’s discovery holes, which featured a best assay of 4m at 1.05% rutile and an average HM assemblage of 63.2% rutile.

Modern campaign

Peak’s broad-spaced maiden program is the first-ever modern and systematic drilling campaign conducted at Minta.

It comprises a total of 316 holes over 3,500 square kilometres, covering nearly half of Minta’s total acreage.

Peak is currently awaiting assays from the remaining 304 reconnaissance holes and has commenced Phase 2 exploration, comprising 134 drill holes at residual rutile targets.

Cost-effective program

Chief executive officer Casper Adson said the shallow and cost-effective hand auger program had produced excellent initial results from the central African project.

“This is the first time these tenements have been systematically explored for residual rutile and the early indications are that we have mineralisation over a globally significant area,” he said.

All drill holes reported to date have intersected HM from surface to end of hole, demonstrating the deposit’s scale and consistency.

Nugget mineralisation

The company has also observed angular rutile nuggets measuring between 1 millimetre and 30mm in diameter across the Minta region.

“The contribution from oversize rutile nugget mineralisation, which is present across the project area, is yet to be fully quantified but it has the potential to add significantly to our overall HM grades,” Mr Adson said.

“We remain highly optimistic about Minta’s potential and our work to date has been a major step in unlocking the full value of this world-class discovery in a new rutile province.”