Peel Mining Ltd’s (ASX:PEX) latest drilling results add strength to the Wagga Tank-Southern Nights project being one of Australia’s most significant emerging zinc polymetallic discoveries in recent years.
High-grade zinc-rich results have been returned from drilling at Southern Nights and in the zone between it and Wagga Tank.
A strongly mineralised intercept has also been returned from Southern Nights at more than 350 metres below surface, which adds substantial down-dip continuity.
READ: Peel Mining drill results support potential for a cluster of high-grade deposits
Best result was 7 metres at 11.32% zinc, 4.92% lead, 49 g/t silver and 0.23 g/t gold within a broader 31 metre intersection from 274 metres at 3.7% zinc, 1.51% lead, 0.25% copper, 25 g/t silver and 0.19 g/t gold.
The results build on previous results from the project, which is south of the mining centre of Cobar in western New South Wales.
READ: Peel Mining establishes link between Wagga Tank and Southern Nights zinc-rich deposits, shares up
Of particular interest is the result from a hole about 300 metres south of the Wagga Tank deposit and about 500 metres north of Southern Nights deposit.
This returned 14.45 metres at 2.43% copper, 2.67 g/t gold, 123 g/t silver, 2.58% zinc and 0.87% lead from 435.55 metres.
Core samples showing massive/semi-massive pyrite-sphalerite-galena-chalcopyrite.
The hole, coupled with other holes in the intervening area, provides a link between the two deposits.
Potential for depth continuity
It also represents one of the deepest to date in the Wagga Tank-Southern Nights project area and highlights the potential for down-dip continuity of mineralisation.
This is similar to that seen in other Cobar-style deposits, which are renowned for their vertical continuity.
Mineralisation is also gold-copper rich with individual metres grading up to 5.88% copper and 8.83 g/t gold.
This possibly indicates metal zonation, which is another common feature of Cobar-style deposits.
Follow-up work planned
Follow-up drilling is planned in this corridor over the coming weeks.
Peel’s drilling at Southern Nights is also indicating a sub-vertical mineralised system with latest results returning strong deeper intersections.
Apart from the 31 metre intersection, another good result was 19 metres at 3.52% zinc, 1.11% lead, 18 g/t silver and 0.1 g/t gold from 181 metres, including 5 metres at 8.18% zinc, 3.75% lead, 46 g/t silver and 0.12 g/t gold.
Drilling is now testing the system to about 350 metres below surface.
Geophysical survey work
Additional geophysical surveys are underway to assist with future targeting.
A comprehensive review of geophysical data is practically complete while first-pass metallurgical test work is continuing.
The company has completed a drilling program and the Fenceline and The Bird prospects with assays pending.