Peel Mining Drilling Advances Mallee Bull Mine Plan

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported further drilling results from the company’s T1 (Mallee Bull), Wirlong and Wagga Tank prospects – all located near Cobar in western New South Wales.

Peel Mining said the results continued to support the company’s belief in the potential of its strategic land position in the Cobar Basin and its aim of building a camp of high-grade base and precious metals deposits that can ultimately be developed into mines.

Peel is currently undertaking a pre-feasibility study on the high-grade, near-surface zinc-lead-silver-gold T1 lens at the Mallee Bull project with the aim of investigating the conceptual development of T1 as a ‘dig and truck’ operation.

Ore mined would be milled at Joint Venture partner CBH’s Endeavor mine approximately 150 kilometres away,

T1 (Mallee Bull) infill drilling for prefeasibility purposes returned new high-grade zinc-lead-silver mineralisation with better results including:

MBRCDD065
16 metres at 13.52 per cent zinc, 7.61 per cent lead, 191 grams per tonne silver and 1.31g/t gold from 74m;

MBRC066
5m at 5.47 per cent zinc, 7.63 per cent lead, 102g/t silver and 0.14g/t gold from 76m;

MBRC067
3m at 19.79 per cent lead, 53g/t silver and 0.36g/t gold from 62m;

MBRC068
4m at 5.64 per cent zinc, 3.29 per cent lead, 52g/t silver and 0.2g/t gold from 64m; and

MBRC069
4m at 6.76 per cent lead, 46g/t silver and 0.53g/t gold from 62m.

Peel explained that ongoing drilling and geophysics at Wirlong are aimed at better defining and extending the known footprint of copper mineralisation discovered by Peel and JV partner JOGMEC. 

“Drilling at Wirlong continues to identify significant copper mineralisation, with several strong new intercepts recorded,” Peel Mining said in is ASX announcement.

“The results are preliminary and based on observations from geological logging, and indications from portable XRF analysers (pXRF), with assays awaited.”

Recent Wirlong drilling results include:

WLRC026 (extension)
26m at 2.89 per cent copper from 286m;

WLRC052
9m at 8.59 per cent copper from 299m; and

WLRC053
23m at 0.82 per cent copper from 179m.

Drilling underway at the Wagga Tank prospect is aimed at increasing the footprint of the base and precious metals deposit, and testing for a possible high-grade gold shoot.

Peel indicated drilling has been slower than expected due to disruption by heavy rain at the start of the drilling program.

“Encouragingly the first step-out drillhole completed at Wagga Tank has returned significant new mineralisation including a zone of massive sulphides containing strong sphalerite and galena mineralisation,” Peel said.

Wagga Tank drilling returned (as indicated by geological logging and portable XRF analyser; assays awaited):

6m at 7.37 per cent zinc, 1.81 per cent lead, 10g/t silver from 282m.

Peel has drilling at Wagga Tank continuing along with general prospecting of several new target areas including the Mt Allen and Double Peak/Mt Dromedary historic mines/workings.

Other activities recently completed include a high-resolution airborne magnetic survey and several induced polarisation and gravity geophysical surveys.

Peel said the interpretation and review of this data is ongoing with further information to be reported in the company’s upcoming quarterly report.

Email: info@peelmining.com.au

Website: www.peelmining.com.au