Peel Mining Delivers Further Drilling Encouragement from Mallee Bull

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported further encouraging drilling results from the company’s 50 per cent-owned Mallee Bull deposit, located near Cobar in western New South Wales.

Peel Mining said the results relate to prefeasibility work into the development of the high-grade, near surface T1 zinc-lead-silver lens at Mallee Bull.

Peel is undertaking a pre-feasibility study on the high-grade, near-surface zinc-lead-silver-gold T1 lens at the Mallee Bull project, which is a Joint Venture with CBH Resources.

The study is investigating the conceptual development of T1 as a ‘dig and truck’ operation, under which ore would be milled at CBH’s Endeavor mine approximately 150 kilometres away, where surplus milling capacity exists.

As part of the prefeasibility study, 39 RC/diamond drillholes were recently completed with the primary aim to infill to a maximum 20 metres by 20 metres drill spacing, and to define the limits of T1 mineralisation.

The latest T1 (Mallee Bull) resource definition drilling returned further new high-grade zinc-lead-silver mineralisation with better results including:

MBRC085
9m at 20.82 per cent zinc, 10.64 per cent lead, 338 grams per tonne silver and 1.91g/t gold from 88m;

MBRC089
9m at 10.80 per cent zinc, 6.89 per cent lead, 337g/t silver and 0.45g/t gold from 129m;

MBRC088
3m at 12.74 per cent zinc, 6.93 per cent lead, 263g/t silver and 1.25g/t gold from 119m;

MBRC073
10m at 7.10 per cent lead, 19g/t silver and 0.53g/t gold from 46m; and

MBRC084
3m at 5.98 per cent zinc, 3.33 per cent lead, 54g/t silver from 77m.

“The significant assay results highlighted above continue to provide encouragement for the establishment of a high-grade mining reserve at T1, and follow-on from other previously released significant results,” Peel Mining said in its ASX announcement.

Email: info@peelmining.com.au

Website: www.peelmining.com.au