Peel Mining Ltd (ASX:PEX) has received further positive drilling and geophysical results from its Wagga Tank/Southern Nights project, south of Cobar in western New South Wales.
Recently received assay results continue to add high-grade mineralisation to the Southern Nights mineral system, including:
• 13.1 metres at 5.49% zinc, 1.53% lead, 0.39% copper, 31 g/t silver, 0.51 g/t gold from 259.8 metres;
• 46.4 metres at 3.91% zinc, 1.51% lead, 60 g/t silver, 0.17 g/t gold from 227.6 metres; and
• 11.9 metres at 3.02% zinc, 1.39% lead, 203 g/t silver from 240 metres.
Importantly, the project is rapidly emerging as one of the most significant zinc-rich polymetallic discoveries in Australia in recent years.
READ: Peel Mining’s drilling continues to extend zinc-rich polymetallic project in New South Wales
Recent drilling has focused on testing at deeper levels at the Southern Nights/Wagga Tank prospects and was successful in intercepting the critical host stratigraphic units, with mineralisation observed in all drill holes.
Furthermore, follow-up drilling at the Fenceline prospect has encountered further significant mineralisation which remains open along strike and down-dip.
First-pass drilling at The Bird, located about 1.5 kilometres north of Fenceline, has returned anomalous geochemistry confirming that base metal mineralisation is associated with the geophysical target.
Multiple new targets identified
A comprehensive geophysical review has recently been completed, identifying multiple targets in proximity of the Wagga Tank-Southern Nights-Fenceline prospects.
Systematic drill testing of these targets is planned in the coming months.
Additional induced polarisation and electromagnetic geophysical surveys are continuing to assist with future targeting.
First-pass metallurgical test work is also continuing with follow-up work expected to commence during
the current quarter.