ashburton lead:zinc confirmed by soil sampling

Surface Soil Sampling at Mt Vernon has provided further evidence of
the potential for Mt Vernon to host large tonnage Ag, Pb & Zn
mineralisation.
♦ +200 ppm lead anomaly extends over an area that is approximately
3.5 km long by 3.2 km wide.
♦ Soil Anomaly Co-Incidental with Gravity & Airborne EM geophysical
anomalies & anomalous Pb, Zn, and Ag rock chips.
♦ IP survey to be undertaken as precursor to RC drilling programme to
better define drill targets within > 5km long “structural trap”



Ashburton Base Metal Project
(100% Peak Resources)
Peak Resources Limited (ASX:PEK—”Peak”) is pleased to advise that recently
received assay results from soil geochemistry completed over its Mt Vernon
prospect within the Ashburton has provided further evidence that Mt Vernon has
the potential to host large tonnage metalliferous deposits.
In recent releases to the ASX, Peak announced results from field programmes
undertaken in October and November including the completion of a gravity
survey, geological mapping and rock chip sampling. Results received from those
programmes have elevated the prospectivity of the Ashburton Project making it a
priority focus in 2008. In summary the programmes outcomes included:
♦ Gravity survey indicating the existence of a large structural trap (or
embayment) in close proximity to an unconformable lithological contact
and the intersection of regional scaled lineaments.
♦ Anomalous rock chips being returned over a strike length of +10km with
numerous highly anomalous assay results including; Iron (+50% Fe), Lead
(+1% Pb), Silver (46.5 ppm Ag), Manganese (+10% Mn) as well as
elevated barium, zinc and cobalt;
♦ Geochemical and Geophysical anomalies are co-incidental
Surface Soil Sample Results
As part of the recent field programmes, Peak completed a nominal 400 x 400
metre spaced soil sampling programme in areas external to recent alluvial cover
(drainage) over its Mt Vernon Prospect. Assay results from this programme have
confirmed the size and extent of the identified geophysical anomalies that are
co-incidental with recently reported highly anomalous rock chip samples.