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Peel Mining Ltd.
Summary
| Project: | Wagga Tank | |
|---|---|---|
| Deposit: | Southern Nights | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver-Gold | |
| Date: | 1/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-1-2018: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Southern Nights deposit at the Wagga Tank project. Drilling results incl. 46m @ 17.01% Zn, 9.57% Pb, 272g/t Ag, 1.22g/t Au from 201m. Peel Mining (ASX:PEX) (“Peel” or the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining (ASX:PEX) (“Peel” or the “Company”) is pleased to report that recent results from its 100%- owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales, reinforce the view that it has discovered a major high-grade zinc-rich mineral system. Assay results recently received from drilling undertaken prior to the Christmas/New Year break underscore the extensive and high-grade nature of zinc-lead-silver-gold mineralisation present at the Southern Nights prospect. As previously reported, a diamond tail extension to drillhole WTRCDD033 intersected spectacular massive sphalerite-galena sulphide mineralisation. Assay results have confirmed that WTRCDD033 ranks as Peel’s best-ever drillhole intercept, having returned 46m @ 17.01% Zn, 9.57% Pb, 272 g/t Ag, 1.22 g/t Au from 201m. This mineralisation is in addition to that previously reported – 92m @ 2.81% Zn, 0.98% Pb, 19 g/t Ag, 0.2 g/t Au from 108m, including 9m @ 8.84% Zn, 2.07% Pb, 14 g/t Ag, 0.58 g/t Au from 188m (see ASX announcement 30 October 2017). Following a shutdown for the Christmas/New Year holidays, field activities have recommenced. Drilling at Southern Nights is continuing, with two double shift diamond rigs currently working. First-pass RC drilling at Fenceline/The Bird prospect, located ~5km east of Wagga Tank/Southern Nights, has also recently commenced, while a fourth RC/diamond rig has resumed drilling at the Wirlong prospect (JOGMEC Farm-in/JV). In addition, 2 geophysical crews (IP and gravity) are working in the Wagga Tank/ Southern Nights area. In-line with recent results, Peel has begun planning for a systematic resource drill-out of the Southern Nights area. First pass metallurgical testwork is also anticipated to commence over the coming weeks. | |
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