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Peel Mining Ltd.
Summary
| Project: | Wagga Tank | |
|---|---|---|
| Deposit: | Southern Nights | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver-Gold | |
| Date: | 10/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-10-2017: Peel Mining Ltd. announces an Exploration/Drilling Update report for its Southern Nights deposit at the Wagga Tank project. Drilling results incl. 26m @ 25.45 % Zn, 9.92% Pb, 0.34% Cu, 215g/t Ag, 1.19g/t Au from 190m. Peel Mining (ASX:PEX) (“P | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Tyson (Internal) | |
| ABSTRACT: | Peel Mining (ASX:PEX) (“Peel” or the “Company”) is pleased to confirm an exciting new zinc-rich discovery at the Company’s 100%-owned Wagga Tank Project, south of Cobar in western New South Wales, following the receipt of exceptionally high-grade zinc-lead-silver assay results from the Southern Nights prospect. Southern Nights, located ~1km south of the high-grade (Zn-Pb-Ag-Au-Cu) Wagga Tank deposit, was recently identified as hosting significant Wagga Tank-style mineralisation (see ASX announcements dated 7 September and 19 October 2017). As reported on 19 October 2017, drillholes WTRC035 and WTRC033 intersected very high-grade zinc-lead-silver rich sulphides including massive sulphides. Analysis of drill cuttings with a portable XRF device gave a preliminary indication as to the remarkable tenor of the mineralisation. Assay results have since been received with significant intercepts returned shown below. As previously reported, drillhole WTRCDD021 (456.6m), designed to test coincident chargeable IP and magnetic geophysical anomalies ~1km south of the Wagga Tank deposit, intersected a broad zone of Wagga Tank-style mineralisation including significant Zn-Pb-Ag-Cu-Au mineralisation. This area is now termed the Southern Nights prospect. Follow-up drilling at Southern Nights recommenced several weeks ago, and as at the time of reporting, eleven RC drillholes (WTRC031, WTRC033-WTRC042 for 2,565m) had been completed. | |
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