Peel Mining Confirms High-Grade Base Metal Mineralisation at Wagga Tank

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THE DRILL SERGEANT: Peel Mining (ASX:PEX) has encountered high-grade zinc-lead-silver-copper-gold mineralised drill intercepts during recent drilling at the company’s 100 per cent-owned Wagga Tank project, near Cobar in western New South Wales.

Peel Mining said the results have encouraged it to expand the initial Wagga Wagga drilling program, which was designed to confirm the presence of high-grade base and precious metal mineralisation originally identified at Wagga Tank in the 1970s and 80s.

Peel explained that, to date, it has completed sixteen RC drillholes (for 3,727m), adding that the majority of these drillholes ended in mineralisation and will require diamond tails.

Only one diamond tail (WTRCDD002) has been completed thus far.

High-grade zinc-lead-silver sulphide and copper oxide/sulphide mineralisation has now been confirmed at Wagga Tank with results including:

WTRC001
4m at 2.4 grams per tonne gold from 78m; and
12m at 3.09 per cent copper, 97 g/t silver, 1.36g/t gold from 92m.

WTRC002
10m at 1 per cent copper, 0.11g/t gold from 109m;
7m at 0.88 per cent copper, 0.08g/t gold from 130m;
8m at 8.54 per cent zinc, 6.2 per cent lead, 134g/t silver, 1.45 per cent copper from 173m; and
13m at 3.73 per cent zinc, 2.14 per cent lead, 29g/t silver, 0.3 per cent copper, 0.21g/t gold from 225m, including 7m at 5.75 per cent zinc, 3.32 per cent lead, 43g/t silver, 0.4 per cent copper, 0.24g/t gold from 230m.

WTRC003
9m at 0.74 per cent copper, 41g/t silver, 1.07g/t gold from 141m;
14m at 0.86 per cent copper, 1.49 per cent lead, 35g/t silver, 0.19g/t gold from 188m;
25m at 1.07 per cent copper, 8g/t silver, 0.27g/t gold from 208m; and
13m at 5.02 per cent zinc, 3.51 per cent lead, 46g/t silver, 0.29g/t gold from 240m (eoh), including 6m at 9.64 per cent zinc, 6.89 per cent lead, 86g/t silver, 0.53g/t gold from 242m.

WTRC004
17m at 1.19 per cent copper from 128m; and
14m at 9.21 per cent zinc, 4.45 per cent lead, 126g/t silver, 1.74g/t gold, 0.31 per cent copper from 280m (eoh).

WTRCDD005
(drillhole continuing)
33m at 1.01 per cent copper, 0.27g/t gold from 120m; and
5m at 0.97 per cent copper, 0.37g/t gold from 165m.

“Assays for the balance of Wagga Tank RC drilling (WTRC006 to WTRC016) remain pending, however preliminary drillhole geological logging coupled with portable XRF analysis (Olympus Delta) has confirmed the presence of further significant zones of copper oxide/sulphide mineralisation and zinc-lead-silver sulphide mineralisation,” Peel Mining said in its ASX announcement.

“In light of the confirmation of high-grade base and precious metal mineralisation at Wagga Tank, Peel has expanded the current drilling program to garner further information with regards to the setting, tenor, mineralisation style and alteration of the Wagga Tank prospect.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au