Peel Mining (ASX:PEX) has drilled out a very high-grade zinc-lead-silver intersection at the Southern Nights prospect within its Wagga Tank Project near Cobar in New South Wales.
Assay results include 21 metres at 31.02% zinc, 12.05% lead, 258 g/t silver, 1.43 g/t gold from 194 metres.
These assay results confirm the initial pre-assay XRF readings, which originally drew investor’s attention on October 19, 2017.
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Significantly, follow-up drilling undertaken since October 19 has intercepted further significant zinc-rich mineralisation.
Drilling remains ongoing with further assays pending.
Drill result details
Assay results have been received for holes WTRC035 and WTRC033 drilled at the Southern Nights prospect.
Results include:
- 21 metres at 31.02% zinc, 12.05% lead, 258 g/t silver, 1.43 g/t gold from 194 metres; and
- 58 metres at 3.88% zinc, 1.19% lead, 28 g/t silver, 0.28 g/t gold from 139 metres including 9 metres at 8.84% zinc, 2.07% lead, 14 g/t silver, 0.58 g/t gold.
Southern Nights is located one kilometre south of the high-grade zinc-lead-silver-copper-gold Wagga Tank deposit.
11 holes completed define 280 metres of strike
Follow-up drilling at Southern Nights recommenced several weeks ago, with 11 reverse circulation holes for 2,565 metres now complete.
Encouragingly, the stratigraphic unit that hosts the Wagga Tank mineralisation, the Vivigani Formation, appears to have been intercepted in all drill holes.
Significant mineralisation appears to have been intercepted in seven drill holes.
Drilling has now defined the Vivigani Formation over the entire 280 metres of strike length tested so far.
Drilling continues
Drilling at Southern Nights is ongoing with six additional reverse circulation holes planned in the near term.
These holes will be designed to primarily test for strike extensions.