Peel Mining encounters shallow zinc-lead-silver at Mallee Bull

THE DRILL SERGEANT: Peel Mining (ASX: PEX) has received results from a round of drilling carried out at the company’s Mallee Bull project in central New South Wales.

According to Peel the recent drilling at Mallee Bull has intercepted shallow, high-grade zinc-lead-silver mineralisation, including:

MBRC018
10 metres at 15.8 per cent zinc, 7.6 per cent lead, 322 grams per tonne silver and 1.28g/t gold from 106m; and

MBRC016
7m at 6.1 per cent zinc, 3.4 per cent lead, 76g/t silver and 0.25g/t gold from 131m.

According to Peel, MBRC016 and MBRC018 were completed as part of a recent drilling program designed to test for additional mineralisation away from the main Mallee Bull copper-polymetallic deposit.

The Mallee Bull project is a 50:50 Joint Venture with CBH Resources Limited (CBH).

A maiden JORC compliant Mineral Resource estimate was completed in May 2014, and comprises 3.9 million tonnes at 2.3 per cent copper, 32g/t silver and 0.3g/t gold.

“MBRC018 was one of four drillholes completed to test a new, high-priority geophysical target known as T1, in close proximity to Mallee Bull,” Peel Mining said in its ASX announcement.

“T1 represents one of two strong chargeable IP areas identified by the recently completed innovative Orion 3D DCIP survey and chosen for drill testing.”

The company explained drillholes MBRC013, MBRC016, MBRC017 and MBRC018 were all designed to test the T1 target.

The first three all intersected zinc-lead-silver mineralisation predominantly occurring as stringer sulphides.

MBRC018 differed in that it intersected sphalerite-galena-pyrite rich massive sulphide mineralisation over a 10m zone from 106m.

Email: info@peelmining.com.au

Website: www.peelmining.com.au