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Peel Mining Ltd.

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Summary

Project:

Mallee Bull

Deposit:Mallee Bull T1
Location:Australia
Commodities:Copper-Lead-Zinc-Silver-Gold
Date:5/9/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Pre-Feasibility Study
Report details:9-5-2017: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Mallee Bull T1 deposit at the Mallee Bull project. JV - Drilling results incl. 13.5m @ 21.1% Zn, 14.1% Pb, 268g/t Ag from 82m (Au pending). Peel Mining (ASX:PEX) (“Peel”, “
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Rob Tyson (Internal)
ABSTRACT:Peel Mining (ASX:PEX) (“Peel”, “the Company”) is pleased to advise of excellent preliminary metallurgical (flotation) testwork results from the high-grade, near surface T1 zinc-lead-silver lens at Peel’s 50%-owned Mallee Bull deposit near Cobar in western NSW. These results support Peel’s view that T1 potentially represents an attractive early production opportunity that can be pursued ahead of the development of Mallee Bull’s predominant copper-silver-gold mineralisation. T1 is defined as sphalerite-galena-pyrite rich massive and stringer sulphide mineralisation, varying from 2-20m true thickness, commencing at ~50m below surface, extending to at least 120m below surface, and with a known strike extent of ~60m. In anticipation of a pre-feasibility study into the potential development of the T1 lens, the Mallee Bull Joint Venture has approved an infill RC drilling program comprising ~27 drillholes for ~4,000m, which is anticipated to commence today. Several drillholes will also be completed as diamond drillholes for metallurgical/geotechnical purposes. The results of this work and additional metallurgical testwork will form the basis for a pre-feasibility study, which Peel expects to start in July 2017.

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