Peel Mining Intersects High-Grades at Wagga Tank

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THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported results from drilling recently carried out at the company’s 100 per cent- owned Wagga Tank project near Cobar in western New South Wales.

Peel Mining indicated the drilling had returned highly encouraging intercepts, which the com[any interpreted to demonstrate the presence of additional high-grade base and precious metal mineralisation.

The company said the results reported come from its maiden drilling program at Wagga Tank, which has been designed to confirm the presence of high-grade base and precious metal mineralisation originally identified in the 1970s and 1980s.

To date, Peel has completed 18 drillholes with at least seven drillholes requiring extensions.

Highlights from the latest drilling results include:

WTRC003
27 metres at 10 per cent zinc, 6.41 per cent lead, 89 grams per tonne silver, 0.42g/t gold, 0.21 per cent copper from 240m (end of hole), including 10m at 19.39 per cent zinc, 12.35 per cent lead, 171g/t silver, 0.67g/t gold, 0.30 per cent copper from 253m; and

WTRC017
16m at 3.27g/t gold, 0.35 per cent copper, 1.1 per cent zinc, 0.57 per cent lead, 12g/t silver from 226m, including 10m at 4.27g/t gold, 0.37 per cent copper, 0.88 per cent zinc, 0.52 per cent lead, 13g/t silver from 228m, and;

13m at 3.34g/t gold, 0.83 per cent copper, 0.77 per cent zinc, 0.28 per cent lead, 20g/t silver from 299m, including 6m at 6.9g/t gold, 1.28 per cent copper, 0.62 per cent zinc, 0.21 per cent lead, 29g/t silver from 300m.

“Peel is encouraged by results to date, with confirmation of very high-grade zinc-lead-silver rich massive sulphide style mineralisation, and strong gold-copper mineralisation, at relatively shallow depths,” Peel Mining said in the company’s ASX announcement.

“Whilst further drilling is required, Peel believes that the intersection of several strong gold-copper intervals (as seen in WTRC011, WTRC013 and WTRC017) possibly represents a previously unrecognised feeder structure to the historically reported oxide gold mineralisation.

“Notwithstanding the required drilling of the oxide gold zone; the strong gold-copper intervals intersected by Peel are open down-dip and along strike and require follow-up drilling beyond the completion of Peel’s maiden 18-drillhole program.”

Email: info@peelmining.com.au

Website: www.peelmining.com.au