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Peel Mining Ltd.
Summary
| Project: | Wagga Tank | |
|---|---|---|
| Deposit: | Southern Nights | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver-Gold | |
| Date: | 12/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-12-2017: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Southern Nights deposit at the Wagga Tank project. Drilling results incl. 84m @ 2.03% Zn, 0.73% Pb, 20g/t Ag from 111m. Peel Mining (ASX:PEX) (“Peel” or the “Company”) is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining (ASX:PEX) (“Peel” or the “Company”) is pleased to report that its 100%-owned Wagga Tank-Southern Nights project, south of Cobar in western New South Wales, continues to demonstrate the potential to develop into a major mineral system, with further high-grade zinc-lead-silver intercepts returned from the Southern Nights prospect and RAB drilling extending the strike length of lead-zinc geochemical anomalism in the project area to ~2.7km (open in all directions). While most assays from the most recent round of drilling are yet to be received, an intercept of 8m at 15.26% Zn, 7.44% Pb, 177 g/t Ag and 0.97 g/t Au from 195m was returned from hole WTRCDD043, providing further compelling evidence of the high-grade tenor of mineralisation at Southern Nights. Furthermore, a diamond tail extension to hole WTRCDD033 intersected spectacular massive sphalerite-galena-pyrite sulphide mineralisation, similar to that encountered in WTRCDD035, from ~218m to ~245m downhole. Assays from this hole are expected early in the New Year. Southern Nights, located ~1km south of the high-grade (Zn-Pb-Ag-Au-Cu) Wagga Tank deposit, was identified in September this year by drillhole WTRCDD021 (456.6m) as hosting significant Wagga Tankstyle mineralisation. Follow-up drilling undertaken since mid-October has focused on testing the strike and depth potential of mineralisation. As of 17 December, 36 RC drillholes (for 8,050m), 10 RC/diamond drillholes (for 3,653.2m), and 103 RAB drillholes (for 8,637m) had been completed as part of this program. At least 17 RC drillholes require diamond tails. | |
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