Peel Mining Ltd (ASX:PEX) has provided shareholders with another avenue for exploration success through its farm-in agreement with Talisman Mining Ltd (ASX:TLM).
Talisman has now has commenced on-ground exploration activities on the Lachlan Copper-Gold Project in New South Wales.
Under the farm-in agreement, Talisman has the right to earn up to 75% of two granted exploration licences through expending a total of $700,000 over 5 years.
Reconnaissance mapping and prospecting underway
Talisman has commenced reconnaissance field mapping and rock-chip sampling over prospective areas identified from desk-top studies.
Preparation work for the commencement of a geochemical drill campaign across multiple targets is underway.
Detailed regional structural review of controls to mineralisation is in final stages, with specific targeting exercise to follow.
READ: Peel Mining’s drilling reveals high grade zinc-lead-silver in New South Wales
Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.
Peel had a successful 2017 year, which saw its share price triple.
The share price was largely driven by the high-grade zinc-lead-silver discovery made at the Southern Nights prospect within its Wagga Tank Project near Cobar in New South Wales.
The success of Peel has attracted the $1.9 billion gold miner St Barbara (ASX:SBM) as a major investor and shareholder.