Overview of Peak Minerals' activities report for December Quarter 2023

Peak Minerals Limited (ASX: $PUA) has released its activities report for the quarter ended 31 December 2023. The company focused on reviewing its existing tenement package, particularly the gold potential in the northern tenements of the Green Rocks Project. Additionally, preliminary field work commenced at the Yendon Project following the renewal of exploration license EL5457 for a further 5 years.

Executive commentary on activities and future plans

The Company's primary focus during the December 2023 quarter was to continue the review of all historical geophysical and geological databases across the Company's existing tenement package in Western Australia, with a specific focus on the gold potential previously identified on the northern tenements of the Green Rocks project. We have also initiated preliminary field work at the Yendon Project following the renewal of exploration license EL5457 for a further 5 years. We are excited about the identified highly prospective zones in the northern tenements of the Green Rocks Project and are assessing next steps for the Earaheedy Project. Our aim is to strengthen the Company's existing asset portfolio and explore new opportunities to enhance our position in the market.

Summary of Peak Minerals' activities and outlook

Peak Minerals (ASX: $PUA) focused on reviewing its existing tenement package, particularly the gold potential in the northern tenements of the Green Rocks Project, and initiated preliminary field work at the Yendon Project following the renewal of exploration license EL5457 for a further 5 years. The Company aims to strengthen its existing asset portfolio and explore new opportunities. With a cash balance of approximately $214,000, the Company is reducing its operational expenditures until a capital raising can be completed. The 2023 Annual General Meeting saw the passing of all resolutions put to the Meeting on a poll. The Company's current capital structure includes the expiration of 115 million unquoted options exercisable at $0.047 on 31 December 2023. The Company spent approximately $99k on project and exploration activities during the quarter. Peak Minerals continues to comply with its obligations under ASX Listing Rules and is focused on enhancing its mineral resource estimates and exploring new opportunities to strengthen its position in the market.