Peel Mining Ltd (ASX:PEX) has received further positive drilling and geophysical results from its Wagga Tank/Southern Nights project in western New South Wales.
The project is emerging as one of the most significant zinc polymetallic discoveries in Australia in recent years.
READ: Peel Mining’s drilling reveals depth potential of zinc-rich polymetallic project in Cobar region
New assay results have confirmed a strongly mineralised intercept at more than 350 metres below surface adding substantial down-dip continuity to mineralisation at Southern Nights.
Peel assayed 22.1 metres at 6.62% zinc, 2.19% lead, 0.87% copper, 60 g/t silver and 0.42 g/t gold from 459 metres.
Another follow-up drill hole confirmed that the critical stratigraphic contact that is host to Southern Nights’ mineralisation remains present at more than 500 metres below surface.
READ: Peel Mining establishes link between Wagga Tank and Southern Nights zinc-rich deposits, shares up
Peel has established further proof of link between Wagga Tank and Southern Nights deposits with a drill hole returning 5.5 metres at 5.68% zinc, 3.07% lead and 60 g/t silver from 215.5 metres.
Downhole electromagnetic surveying of another drill hole at Southern Nights has identified a significant off-hole conductor considered to likely represent extensions to the mineralisation encountered earlier.
Follow-up drilling targeting this conductor is planned over the coming weeks.
Near-term focus on extending mineralisation at depth
Drilling at the Wagga Tank/Southern Nights project is ongoing, with a near-term focus on extending mineralisation at depth.
A comprehensive review of geophysical data is also practically complete while first-pass metallurgical test work is continuing with follow-up work expected to commence during the current quarter.