THE DRILL SERGEANT: Peel Mining (ASX: PEX) informed the market of drilling results from the Corridor Zone, located between the Wagga Tank and Southern Nights deposits on the company’s 100 per cent-owned Wagga Tank project, south of Cobar in western New South Wales.
Peel Mining’s recent efforts involve the completion of drillholes WTRCDD141 and WTRCDD141W1 that were designed to follow-up drillhole WTRCDD123, which had encountered a massive sulphide mineralised intercept.
The company said that geological logging and portable XRF analyses had confirmed zones of variable pyritesphalerite-galena rich sulphides comprising massive, semi-massive and breccia/stringer style mineralisation.
WTRCDD141 intersected zinc-lead rich mineralisation from around 554 metres to around 594m downhole, including several zones of strong massive zinc-lead rich mineralisation.
WTRCDD141W1 intersected zinc-lead rich mineralisation from approximately 505m to around 508m downhole, and from near 580m to about 619m downhole, including several zones of strong massive zinc-lead rich mineralisation.
“The intersections in WTRCDD123, WTRCD141 and WTRCD141W1 are considered highly important as they provide further support that the Wagga Tank and Southern Nights deposits are interconnected, and like other significant Volcanogenic Massive Sulphide deposits, mineralisation is likely to cluster and stack in multiple lenses,” Peel Mining said in its ASX announcement.
“Whilst the geometry of the mineralised zones remains complex, it is believed that mineralisation is likely to be sub-vertical/steeply dipping to the west and therefore the true width on the above intercepts would be around 40 to 50 per cent of the downhole widths.”
Peel Mining released a maiden Indicated and Inferred Mineral Resource Estimate (MRE) for Wagga Tank-Southern Nights in July of 3.8 million tonnes at 5.5 per cent zinc, 2.1 per cent lead, 75 grams per tonne silver, 0.27 per cent copper and 0.31g/t gold or 9.2 per cent zinc equivalent.