THE DRILL SERGEANT: Peel Mining (ASX: PEX) has claimed discovery of new zones of mineralisation from an ongoing drilling campaign across the company’s 100 per cent-owned Wagga Tank project, south of Cobar in western New South Wales.
Peel Mining returned resumed drilling at Wagga Tank-Southern Nights in August, with a program comprising around 10,000 metres of RC/diamond drilling primarily designed to develop higher confidence resources and to progress the project towards development.
This drilling has targeted both Wagga Tank and the Corridor Zone, located between Wagga Tank and Southern Nights and has resulted in the confirmation of strong new mineralisation in the Corridor Zone, which the company said highlights the potential for interconnected mineralisation between the Wagga Tank and Southern Nights deposits.
Drilling in the Corridor Zone, located between Wagga Tank and Southern Nights returned wide, high-grade intercepts highlighting the potential for a link between the two deposits, including:
2.1 metres at 4.7 per cent copper, 129 grams per tonne silver, 0.15g/t gold, 0.4 per cent zinc, 0.5 per cent lead from 530.2m; and
58.3m at 5.4 per cent zinc, 2.3 per cent lead, 0.1 per cent copper, 24g/t silver, 0.31g/t gold from 546.7m, including 13.1m at 11.1 per cent zinc, 5.7 per cent lead, 0.05 per cent copper, 52g/t silver, 0.51g/t gold from 553.9m.
9m at 7.6 per cent zinc, 4.7 per cent lead, 0.1 per cent copper, 153g/t silver, 0.46g/t gold from 501m, including 2.8m at 21.6 per cent zinc, 12.7 per cent lead, 0.4 per cent copper, 441g/t silver, 1.23g/t gold from 505.1m;
17m at 1.3 per cent copper, 25g/t silver, 0.14g/t gold, 0.1 per cent zinc, 0.1 per cent lead from 510m;
47m at 6.3 per cent zinc, 2.8 per cent lead, 0.05 per cent copper, 24g/t silver and 0.28g/t gold from 573m; and
53m at 3.4 per cent zinc, 1.9 per cent lead, 0.1 per cent copper, 24g/t silver and 0.46g/t gold from 626m.
Drilling at Wagga Tank deposit is around 60 per cent complete with initial results received from WTRCDD213, including:
20m at 1.52g/t gold, 4g/t silver, 0.2 per cent copper, 0.4 per cent lead from 80m.
The drill rig from the Corridor Zone has now relocated to Southern Nights to focus on infill and extensional drilling in the main resource area.
“This is a very exciting development, offering potential to infill the zone between Wagga Tank and Southern Nights, and further enhancing the development prospects of the project,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.
“VMS and Cobar-style mineral systems are renowned for clustering and stacking and we see every chance that this will be the case here – we look forward to completing follow-up drilling in due course.
“In the meantime, we are continuing with resource upgrade drilling at Wagga Tank and Southern Nights to advance these deposits towards development.”