Monday, November 13, 2017
THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported further high-grade zinc-lead-silver assay results from the company’s 100 per cent-owned Wagga Tank project, south of Cobar in western New South Wales.
Peel Mining encountered the latest intersections conducting follow-up drilling, which it claims to have extended the strike of zinc mineralisation at the Southern Nights discovery to approximately 700 metres with mineralisation open in all directions.
Peel recently announced the zinc discovery at Southern Nights, which is located approximately one kilometre south of the high-grade Wagga Tank deposit.
Southern Nights was identified as hosting significant Wagga Tank-style mineralisation.
Peel’s follow-up drilling undertaken over the past month has primarily tested the strike potential of this newly-recognised mineralisation.
Highlights of the recent high-grade zinc-lead-silver intercepts, included:
22 metres at 8.48 per cent zinc, 3.06 per cent lead, 115 grams per tonne silver, 0.24g/t gold from 161m, including 8m at 16.21 per cent zinc, 6.18 per cent lead, 248g/t silver, 0.28g/t gold from 174m; and
10m at 16.28 per cent zinc, 11.17 per cent lead, 387g/t silver, 0.63g/t gold from 148m, including 6m at 26.18 per cent zinc, 18.00 per cent lead, 608g/t silver, 0.98g/t gold from 149m.
“RC drilling at Southern Nights is ongoing at the time of reporting with up to 60 additional RC/diamond drill holes planned over the coming months,” Peel Mining said in its ASX announcement.
“A dedicated diamond drill rig, along with a RAB drill rig are anticipated to commence work within the next fortnight.
“Drilling has been designed to test for strike and dip extensions.
“A portion of drilling will be dedicated to testing nearby prospects including the Fenceline prospect located approximately four kilometres east of Wagga Tank.
“In addition, extensional IP geophysical surveys are now being completed.”