What acquisition did Peako (ASX:PKO) announce in Saudi Arabia?

Peako has entered a binding agreement to acquire a 100 per cent interest in a gold exploration portfolio in Saudi Arabia's Central Arabian Gold Region. The deal covers six projects spanning 862 square kilometres. The portfolio is considered "drill-ready" with immediate testing targets.

Why is Saudi Arabia considered an emerging gold frontier for junior explorers like Peako (ASX:PKO)?

Saudi Arabia represents a newly opened tier-1 mining jurisdiction with geology highly comparable to prolific gold provinces in Western Australia and West Africa. Because the region has only recently opened to foreign investment, it remains largely under-explored.

Where are Peako's (ASX:PKO) new gold projects located relative to existing mines?

All six projects sit in a near-mine position within 65 kilometres of established, operating gold mines. Specifically, Peako's priority target areas directly neighbour the multi-million-ounce Sukhaybarat (~2Moz Au) and Bulghah (~3.4Moz Au) operations.

What are the key historical drill results for Peako's (ASX:PKO) new priority prospects?

Historical intercepts highlight high-grade, shallow gold mineralization across three main prospects. Notable results include 4 metres at 11.32 g/t Au at Sukhaybarat South, 7 metres at 10.12 g/t Au at Jabal Jumaymah, and 2 metres at 13.53 g/t Au at Wadi Jarir.

How is Peako (ASX:PKO) funding this new Saudi Arabian exploration strategy?

Peako has secured firm commitments for a $5.2 million capital placement to fund the upcoming exploration programme. Demonstrating strong insider alignment, company directors and management have personally committed $625,000 of the total raising.

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Peako secures major Saudi Arabian gold portfolio

Written by Liezl GambePublished Jun 10, 2026, 2:31 AM

Australian mineral explorer Peako (ASX:PKO) announced a binding agreement to acquire a 100% interest in a drill-ready gold exploration portfolio spanning 862km2 across six projects in the Central Arabian Gold Region of Saudi Arabia.

The milestone entry into an emerging tier-1 gold frontier positions Peako within a major, under-explored gold province boasting geology comparable to Western Australia and West Africa, which has only recently opened to foreign investment.

The acquisition places Peako in a near-mine position, with all projects located within 65km of established, operating gold mines.

Priority targets neighbour the Sukhaybarat (~2Moz Au) and Bulghah (~3.4Moz Au) operations.

The portfolio includes drill-ready priority prospects featuring historical high-grade intercepts for immediate testing, highlighted by 4m at 11.32 g/t Au at Sukhaybarat South, 7m at 10.12 g/t Au at Jabal Jumaymah, and 2m at 13.53 g/t Au at Wadi Jarir, all remaining open along strike and at depth.

Further upside remains across a district-scale discovery pipeline containing untested targets at Bulghah East and Ad Dirabi.

To drive the exploration programme, incoming Saudi-based Exploration Manager Oliver Jones will lead the in-country team alongside Strategic Adviser Tony Manini, while Marcus Harden will join the board as non-executive director.

Peako has secured firm commitments for a $5.2 million placement, including $625,000 from directors and management.

Peako secures major Saudi Arabian gold portfolio

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