Peel Mining Confirms Southern Nights Mineralisation Continuation at Depth

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported drilling and geophysical results from the company’s 100 per cent-owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales.

Peel Mining said that assay results from drillhole WTRCDD122 confirmed a strongly mineralised intercept at more than 350 metres below surface adding substantial down-dip continuity to mineralisation at Southern Nights.

22.1 metres at 6.62 per cent zinc, 2.19 per cent lead, 0.87 per cent copper, 60 grams per tonne silver, 0.42g/t gold from 459m, including 5.1m at 18.36 per cent zinc, 5.71 per cent lead, 0.12 per cent copper, 72g/t silver, 0.2g/t gold from 476m.

Peel Mining said that follow-up drillhole WTRCDD124 confirmed the critical stratigraphic contact hosting Southern Nights’ mineralisation remains present at more than 500m below surface.

Downhole electromagnetic (DHEM) geophysical surveying of drillhole WTRCDD123 also identified an off-hole conductor the company considers to likely represent extensions to recently-reported mineralisation encountered in WTRCDD123 of:

14.45m at 2.43 per cent copper, 2.67g/t gold, 123g/t silver, 2.58 per cent zinc, 0.87 per cent lead from 435.55m.

Drillhole WTRCDD101, positioned south of Wagga Tank and north of Southern Nights, returned a mineralised interval that company determined as further evidence of a link between the deposits.

The intercept in WTRCDD101 is located some 250m south and around 250m up-dip of the intercept in WTRCDD123.

“WTRCDD123 is situated between Wagga Tank and Southern Nights and coupled with WTRCDD101 and other intervening drillholes has established a link between the two deposits,” Peel Mining said in its ASX announcement.

“Current drilling is focused on testing for deeper mineralisation at Southern Nights and in the Wagga Tank-Southern Nights corridor.

“Induced Polarisation (IP) geophysical surveys along with downhole electromagnetic (DHEM) surveys are continuing.

“A comprehensive review of geophysical data is also practically complete (final report awaited) whilst first-pass metallurgical testwork is continuing.”