THE DRILL SERGEANT: Peel Mining (ASX: PEX) claimed that recent results it received from the company’s 100 per cent- owned Wagga Tank/Southern Nights project, south of Cobar in western New South Wales, reinforce the view it has discovered a major high-grade zinc-rich mineral system.
Peel Mining said assay results it received from drilling undertaken prior to the Christmas/New Year break underscore the extensive and high-grade nature of zinc-lead-silver-gold mineralisation present at the Southern Nights prospect.
A previously reported, a diamond tail extension to drillhole WTRCDD033 intersected spectacular massive sphalerite-galena sulphide mineralisation.
Further assay results have confirmed that WTRCDD033 ranks as Peel’s best-ever drillhole intercept, having returned:
46 metres at 17.01 per cent zinc, 9.57 per cent lead, 272 grams per tonne silver, 1.22g/t gold from 201m.
On return from a shutdown for the Christmas/New Year holidays, the company has recommenced field activities with drilling at Southern Nights continuing with two double shift diamond rigs currently working.
First-pass RC drilling has also kicked off at Fenceline/The Bird prospect, located approximately five kilometres east of Wagga Tank/Southern Nights.
A fourth RC/diamond rig has resumed drilling at the Wirlong prospect (JOGMEC Farm-in/JV).
In addition, two geophysical crews (IP and gravity) are working in the Wagga Tank/ Southern Nights area.
“In-line with recent results, Peel has begun planning for a systematic resource drill-out of the Southern Nights area,” Peel Mining said in its ASX announcement.
“First pass metallurgical testwork is also anticipated to commence over the coming weeks.”