Peel Mining Ltd (ASX:PEX) has received more high-grade base metals results from resource definition drilling at Wagga Tank Polymetallic Project, south of Cobar in western NSW, with a maiden resource estimate due for completion next month.
With the drilling program complete, detailed structural and geochemical studies are underway to develop the geological model in preparation for the estimate.
This work will also assist in generating future drill targets in this large mineralised system, which incorporates the Southern Nights deposit.
READ: Peel Mining intersects up to 2.54% zinc at Wagga Tank project
Resource drilling at Southern Nights continues to yield substantial results including:
- 44.11 metres at 4.52% zinc, 1.55% lead, 0.06% copper, 203 g/t silver and 0.07% gold from 389.89 metres, including 1.99 metres at 23.88% zinc, 10.96% lead, 0.26% copper, 3,548 g/t silver and 0.11 g/t gold, and 2.27 metres at 18.91% zinc, 6.4% lead, 0.36% copper, 268 g/t silver and 0.28 g/t gold;
- 21 metres at 4.94% zinc, 1.77% lead, 0.26% copper, 65 g/t silver and 0.11 g/t gold from 401 metres including 4.72 metres at 13.79% zinc, 4.84% lead, 0.24% copper, 170 g/t silver and 0.07 g/t gold from 402.8 metres; and
- 23.42 metres at 9.23% zinc, 5.41% lead, 0.7% copper, 125 g/t silver and 0.47 g/t gold from 351.58 metres including 8 metres at 19.23% zinc, 11.11% lead, 1.36% copper, 307 g/t silver and 0.64 g/t gold from 352 metres.
READ: Peel Mining fields high-grade zinc and polymetallic results from Wagga Tank
Full final assays have also extended the high-grade mineralised intersections within three other holes and identified a new broad copper-gold zone in one of these. Results with zinc listed first, followed by lead, copper, silver and gold, include:
- 35 metres at 6.5%, 3.28%, 0.37%, 212 g/t and 1.02 g/t from 181 metres including 3 metres at 16.67%, 6.78%, 1.04%, 437 g/t and 0.76 g/t from 185 metres and 2.9 metres at 30.34%, 18.24%, 0.19%, 415 g/t and 0.38 g/t from 193 metres;
- 12 metres at 15.68%, 7.45%, 0.13%, 170 g/t and 0.31 g/t from 336 metres including 5.4 metres at 29.26%, 13.97%, 0.22%, 326 g/t and 0.45 g/t from 337.2 metres; and
- 28 metres at 19.03%, 10.77%, 0.24%, 166 g/t and 1.21 g/t from 224 metres.
Drilling at Wagga Tank intersected new mineralisation 200 metres north of the main deposit extending the Wagga Tank-Southern Nights mineral system to more than 2.2 kilometres in strike and it is still open.
Two drill holes were drilled north of the Wagga Tank prospect area targeting arsenic and zinc anomalies in historical RAB drilling along strike from the main mineralisation.
The presence of this mineralisation highlights the potential for extension of both the Wagga Tank and Southern Nights deposits along this stratigraphic contact.