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Peel Mining Ltd.
Summary
| Project: | Wagga Tank | |
|---|---|---|
| Deposit: | Southern Nights-Wagga Tank | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver-Gold-Copper | |
| Date: | 12/19/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-12-2019: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Southern Nights-Wagga Tank deposit at the Wagga Tank project. Drilling results incl. 40.4m @ 7.25% Zn, 3.34% Pb, 95g/t Ag, 0.89% Cu, 0.87g/t Au from 352m. Peel Mining Lim | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining Limited (ASX:PEX) (“Peel” or the “Company”) is pleased to confirm the discovery of a new high-grade zone to the south of the Southern Nights deposit from an ongoing resource upgrade drilling program at the 100%-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales. In late August, drilling at Wagga Tank-Southern Nights resumed, comprising ~10,000m of RC/diamond drilling primarily designed to develop a higher confidence Mineral Resource Estimate, anticipated for March quarter 2020, and to progress the project towards development with a concept study. Since recommencement, drilling has targeted Wagga Tank, Southern Nights and the Corridor Zone (located between Wagga Tank and Southern Nights). Planned drilling at Wagga Tank and the Corridor Zone is now complete, with further drilling on the main Southern Nights area subject to a review over the Christmas and New Year period. Recently received assays confirm new high-grade mineralisation located ~500m south of the highgrade Southern Nights Central Zone in an area with only limited drilling, near the boundary of the existing resource model. Drillholes WTRCDD229 and WTRCDD238 returned mineralisation akin to that in the Southern Nights Central Zone. Significantly, this mineralisation remains completely open to the south. | |
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