Peel Mining encounters more high-grade zinc-lead-silver-gold hits at Mallee Bull

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THE DRILL SERGEANT: Peel Mining’s (ASX: PEX) latest love affair with the drill bit has continued with the latest announcement of results from the company’s 50 per cent-owned Mallee Bull project near Cobar in Western New South Wales.

The recent drilling activity has reported intercepts of additional very high-grade near-surface zinc-lead-silver-gold mineralisation, including:

MBRC028
7m at 21.39 per cent zinc, 12.74 per cent lead, 203 grams per tonne silver and 0.58g/t gold from 71m, including 5m at 29.54 per cent zinc, 17.52 per cent lead, 280g/t silver and 0.8g/t gold from 71m.

MBRC028 lies updip from MBRC024 which returned an intercept of:
12m at 20.3 per cent zinc, 14.81 per cent lead, 308g/t silver and 1.59g/t gold from 83m, including 7m at 31.44 per cent zinc, 19.37 per cent lead, 440g/t silver and 2.53g/t gold from 83m.

Peel has drilled 21 RC drillholes at the T1 geophysical target as part of a program designed to test for new mineralisation, supplementary to the main Mallee Bull copper-silver-gold deposit (3.92 million tonnes at 2.7 per cent copper equivalent).

The company explained T1 is one of a number of strong chargeable IP responses it had identified in a recently completed Orion 3D DCIP geophysical survey.

Peel described T1 to be a near-surface (starting at around 80m below surface), strong chargeable IP, low resistivity anomaly coincident with a gravity high.

It is located in an area that has had limited previous drill testing.

“This exceptionally high-grade mineralisation so close to surface is a very important development for Mallee Bull,” Peel Miing managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“The innovative Orion 3D geophysical survey, in concert with recent magnetic and gravity modelling has helped deliver an excellent outcome and points to further exciting results to come.

“We look forward to recommencing drilling.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au