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Peel Mining Ltd.
Summary
| Project: | Wagga Tank | |
|---|---|---|
| Deposit: | Southern Nights | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver-Gold | |
| Date: | 5/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-5-2018: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Southern Nights deposit at the Wagga Tank project. Drilling results incl. 22.1m @ 6.62% Zn, 2.19% Pb, 0.87% Cu, 60g/t Ag, 0.42g/t Au from 459m. Peel Mining Limited (ASX:PE | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining Limited (ASX:PEX) (“Peel” or the “Company”) is pleased to report further positive drilling and geophysical results from its 100%-owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales, which is rapidly emerging as one of the most significant zinc polymetallic discoveries in Australia in recent years. Assay results from drillhole WTRCDD122 have confirmed a strongly mineralised intercept at more than 350m below surface adding substantial down-dip continuity to mineralisation at Southern Nights. Follow-up drillhole WTRCDD124 has confirmed that the critical stratigraphic contact that is host to Southern Nights’ mineralisation remains present at more than 500m below surface. Downhole electromagnetic (DHEM) geophysical surveying of drillhole WTRCDD123 has identified a significant offhole conductor considered to likely represent extensions to the mineralisation encountered in WTRCDD123 - 14.45m @ 2.43% Cu, 2.67 g/t Au, 123 g/t Ag, 2.58% Zn, 0.87% Pb from 435.55m. Follow-up drilling targeting the conductor is planned over the coming weeks. Drillhole WTRCDD101, positioned ~500m south of Wagga Tank and ~350m north of Southern Nights, returned a significant mineralised interval providing further evidence of a link between the deposits. The intercept in WTRCDD101 is located ~250m south and ~250m updip of the recently reported highgrade intercept in WTRCDD123. WTRCDD123 is situated between Wagga Tank and Southern Nights and coupled with WTRCDD101 and other intervening drillholes has established a link between the two deposits. | |
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