Company
ASX:PEX
Peel Mining Ltd (ASX:PEX) is an Australian company focused on exploring and developing precious, base and specialty metals resources in New South Wales and Western Australia.
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The proposed drill-hole locations have been sited to test for the potential of massive sulphide-associated gold-zinc-lead-copper-silver mineralisation.
The company will use the funds from the sale to continue exploring and developing its precious base metals resources in New South Wales.
The newly returned high-grade copper intersections support the revised structural model, offering excellent potential to define high-quality resources and add new mineralisation in the future.
The upgraded resource provides the basis for updated scoping studies and further delineation drilling to better understand the potential development opportunities available.
Near-term news flow will be from Wirlong drilling and an updated Wagga Tank-Southern Nights resource, which will form the basis of a concept study over the project.
Adequate drilling has now been completed to commence resource estimation works with an upgraded resource anticipated this quarter.
Robust drilling results continue to strengthen the company’s geological confidence and expand the potential mining inventory.
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Peel Mining is an Australian company focused on exploring and developing precious base metals resources
Hartleys has initiated coverage of Peel with a Speculative Buy recommendation and a 12-month price target of 38 cents per share.
Very high-grade massive sulphide intercepts have been returned in resource upgrade drilling at the project south of Cobar in NSW.
High-grade base metals intersections, with added gold and silver, highlight the link between the Wagga Tank and Southern Nights deposits.
Drilling at Wagga Tank-Southern Nights remains ongoing as part of a resource upgrade program and will include further testing in the Corridor Zone.
Drilling is now underway at Wagga Tank and Southern Nights as part of a program to upgrade the JORC resource.
Peel has made three major base metals discoveries in the prolific Cobar Basin.
Simpson’s experience ranges from mine development and management through to corporate and equity market participation.
St Barbara aims to produce 355,000 ounces of gold in FY19 from its mines in Western Australia and Papua New Guinea.
The company received firm commitments from institutional, sophisticated and strategic investors for the placement.
The company is on track to deliver a maiden JORC resource for the Wagga Tank Project this month.
The high-grade results from the resource drilling will feed into the maiden JORC resource estimate, which is on track for delivery in June.
The advancement of Mallee Bull via an exploration decline is a logical, low-risk way to unlock the project’s obvious economic potential.
