Peako (ASX:PKO) has announced its received nickel sulphide (NiS) fire assay results from a selection of 2022 drilling intervals at the Eastman PGE (Platinum Group Element) project.
The explorer says the results confirm the presence of the six rare PGE elements including both high-value rhodium and iridium, increasing the total PGE grade for the drilling intervals that were analysed by NiS fire assay.
It says rhodium and iridium are both rare and valuable metals, and as of March 24 the price of rhodium is US$8,500/oz, whilst the price for iridium is about US$4,600/oz.
Peako says mineralogical studies are ongoing in collaboration with ANU (Australian National University) in order to understand the PGE distribution and metal association of the various PGE's.