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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: | 7/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-7-2019: Peel Mining Ltd. announces a Resource Estimation report for its Southern Nights-Wagga Tank deposit at the Wagga Tank project. Maiden mineral resource estimate for project. Peel Mining Ltd (ASX Code: PEX) (“Peel” or “the Company”) is pleased to a | |
| Resources: | (Resource, I+I): 4.155Mt @ 5.1% Zn, 1.9% Pb, 71g/t Ag, 0.28% Cu, 0.32g/t Au | |
| CP/QP: | [Resources]: Jason McNamara (Internal) | |
| ABSTRACT: | Peel Mining Ltd (ASX Code: PEX) (“Peel” or “the Company”) is pleased to announce a maiden JORC 2012 Indicated & Inferred Mineral Resource Estimate (“MRE”) for its 100% owned Wagga Tank and Southern Nights deposits located in the Cobar Basin of western NSW (Australia). The MRE provides Peel with a solid foundation to immediately commence Scoping Studies to advance the potential development scenarios at Wagga Tank-Southern Nights. Activities underway at the time of reporting include detailed metallurgical testwork, ongoing geotechnical studies, pre-development environmental baseline work, new geophysical surveys and drill planning targeting potential extensions to mineralisation. The Wagga Tank-Southern Nights mineral system remains open along strike and down dip. Peel Mining Managing Director Mr Rob Tyson commented: “The high-grade Maiden Resource at Wagga Tank-Southern Nights is a pleasing addition to Peel’s Cobar Basin assets. Peel’s exceptional exploration team were able to deliver this major resource in less than 2 years from discovery and at a fraction of the cost of many of our peers. A great deal of knowledge has come from this work and the potential for the project to grow is excellent.” “It is worth noting that the scale of resource at Wagga Tank-Southern Nights is similar to that of other Cobar Basin mines at the time they were brought into production – mines that have gone on to become world-class operations. We now look forward to advancing Wagga Tank-Southern Nights’ development scenario studies to ultimately complement our pending development of Mallee Bull.” | |
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