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In February 2023, Peako received assay results from its Phase 2 reverse circulation (RC) drilling program, which was undertaken in late 2022.

The results provided further confidence in the potential of the Eastman Project, in particular highlighting the potential of the Brumby Prospect and surrounds.

 (1.0 g/t 3E) from 48m(PRC0074) – including 

 from 70m (1.06 g/t3E) (PRC0073)
– including 

23m @ 0.83 g/t PdEq (0.54 g/t 3E) from 46m(PRC0076)
– and 11m @ 0.83 g/t PdEq (0.54 g/t 3E) from 74m
– and 7m @ 0.83 g/t PdEq (0.54 g/t 3E) from 140m
– and 5m @ 0.87 g/t PdEq (0.50 g/t 3E) from 162m

 (0.0.55 g/t 3E) PdEq from26m (PRC0077)
– and 

21m @ 0.83 g/t PdEq (0.48 g/t 3E) from 71m(PRC0079)
– including 

21m @ 0.91 g/t PdEq (0.52 g/t 3E) from 23m(PRC0080)
– including 

(0.72 g/t 3E) from 66m(PRC0081)
– including 

Phase 2 drill results from Brumby define PGE mineralisation continuously across the tested 300m strike, with a high-grade zone that is also continuous over a strike length of at least 180m. All mineralisation at Brumby remains open along strike to both the east and west.High-grade PGE mineralisation at Brumby was consistently intersected at vertical depths around 65m with the zone extending from near surface and currently open both up and down dip and along strike in both directions.