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Peel Mining Continues Wirlong Drill Success

THE DRILL SERGEANT: Peel Mining (ASX: PEX) recently completed a diamond drill program at the Wirlong prospect, south of Cobar in western New South Wales.

Wirlong is part of the company’s Cobar Superbasin project, A Joint Venture with JOGMEC (Japan Oil, Gas and Metals National Corporation).

Peel Mining’s latest drilling at Wirlong comprised three diamond drillholes that were designed to target the Wirlong Central zone to test a newly interpreted strike orientation of high-grade copper mineralisation returned from historic drillholes.

“Importantly, the newly returned high-grade copper intercepts support the revised structural model, offering excellent potential to define high-quality resources and add new mineralisation in the future,” Peel Mining said in its ASX announcement.

Results from the drilling include:

WLDD003
4.26 metres at 2.22 per cent copper, 7 grams per tonne silver from 380m, including 0.26m at 15.85 per cent copper, 58g/t silver from 384m; and
0.74m at 14.3 per cent copper, 66g/t silver from 396.2m.

WLDD004
1.15m at 7.71 per cent copper, 30g/t silver from 54.45m, including 0.25m at 30 per cent copper, 97g/t silver from 54.45m;
30m at 1.64 per cent copper, 8g/t silver from 305m, including 14m at 2.63 per cent copper, 12g/t silver from 320m; and
9.6m at 1.32 per cent copper, 2g/t silver from 436.4m.

WLDD005
5.9m at 3.19 per cent copper, 13g/t silver from 347.1m, including 0.65m at 18.65 per cent copper and 48g/t silver from 351.87m.

Peel Mining completed down-hole EM on drillholes WLDD003 and WLDD004, using a newly designed transmitter loop designed to couple with mineralisation based upon its revised structural model.

“A number of high-grade copper intercepts in the area intersect the modelled plate or are in close proximity to its position, further supporting the new structural models’ validity,” the company explained.

“The strike of mineralisation remains open to the southeast and northwest, and downdip.”

The company forecast future activities for Wirlong to include further infill and extensional drilling and geophysical surveying to assist with exploration drill targeting along with the completion of a maiden mineral resource estimate.

 

Email: info@peelmining.com.au

 

Web: www.peelmining.com.au

 

Peel Mining Substantially Upgrades Southern Nights Resource

THE DRILL SERGEANT: Peel Mining (ASX: PEX) released an updated Indicated & Inferred Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Wagga Tank and Southern Nights deposits located in the Cobar Basin of western New South Wales.

The company explained the MRE is reported within mineable shapes generated at $80 per tonne net smelter return (NSR) with a minimum mining width of three metres and includes internal dilution.

Peel Mining reported an Indicated and Inferred MRE of:

4.95 million tonnes at 5 per cent zinc, 2 per cent lead, 78 grams per tonne silver, 0.3 per cent copper, and 0.4g/t gold within $80/t NSR mineable shapes.

This represent a 31.5 per cent increase in Indicated and Inferred resource tonnage from the company’s previous MRE.

Of note, the Indicated MRE increased to 2.95 million tonnes at 5.73 per cent zinc, 2.33 per cent lead, 86g/t silver, 0.23 per cent copper, 0.36g/t gold (within $80/t NSR mineable shapes).

This represents a 161 per cent increase in Indicated resource tonnage from the previous MRE.

Peel Mining said the updated MRE provides a solid foundation, from which it can immediately commence scoping studies to advance the potential development scenarios at Wagga Tank-Southern Nights.

The company already has associated activities underway, including ongoing metallurgical testwork, geological/structural studies, pre-development environmental baseline work, and drill planning targeting potential extensions to mineralisation.

Also worth noting, is that the Wagga Tank-Southern Nights mineral system remains open along strike and down dip.

“This resource upgrade is another important step for Peel as it continues towards unlocking the next mine development opportunity within the Cobar Basin,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“The advancement of the Southern Nights-Wagga Tank mineral resource utilising contemporary metal pricing, marketing and metallurgical assumptions, presented as a Net Smelter Return, as well as underground mining assumptions is an important move towards our goal.

“Encouragingly, the resource quality has improved significantly with nearly three million tonnes reporting to the Indicated classification.

“We will now move to scope out the project to better understand the potential development opportunities available.”

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au

 

Class Players Attracted to Peel Mining’s NSW Holdings

THE CONFERENCE CALLER: If the quality of an exploration house’s assets is reflected by the calibre of its joint venture partners and investors, then Peel Mining (ASX: PEX) could well be sitting on something quite significant. By Mark Fraser

The Western Australian company with a New South Wales focus has attracted the attention of some pretty interesting names to its project portfolio – including the giant Japanese resources house Japan Oil, Gas and Metals Corporation (JOGMEC) and mid-tier base metals mining house CBH Resources, which was once listed on the ASX but is now owned by Japan’s Toho Zinc Company.

One of Australia’s largest domestically-own gold miners, St Barbara (ASX: SBM), also has a 13 per cent stake in the company, while another of its major shareholders (15%) is Hampton Hill Mining (ASX: HHM), whose chairman is none other than legendary WA geologist Joshua Pitt, the man who first identified the mineralised potential of the rich polymetallic Golden Grove mine in WA’s Mid West after discovering Gossan Hill back in the early 1970s.

Over the past seven years Peel has established three major project areas in the Cobar Basin.

At the moment it seems the most advanced is its wholly-owned Wagga Tank-Southern Lights high grade zinc-lead-silver system, where the company has established a maiden resource – using a 3.5 zinc equivalent cut off – 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 a 9.2% zinc equivalent).

Located around 150 kilometres south west of the mining hub of Cobar, Wagga Tank-Southern Lights, which remains open along strike and downdip, is hosted within volcanogenic massive sulfide (VMS) mineralisation and is currently undergoing a resource estimation update.

Once this is completed it is expected scoping and pre-feasibility due diligence will quickly kick in.

During the recent RIU Explorers Conference in Fremantle, Peel Mining managing director Rob Tyson said the new resource work would be more akin to, “what you see in the gold mining industry for open pit”.

“We are actually running it through a stope optimisation process to essentially give us a mining resource eventually,” he said.

“The drilling we’ve been doing had … two aims essentially – to increase the quality of the resource, so we are hoping for a significant jump in the amount of indicated resource classification for this next estimate, and we are also hoping to improve the scale of the system.

“And we’ve had a couple of exploration successes as part of our last drill program that we think will put us in good stead there.

“So we think this is going to turn into a classic sort of VMS setting. It’ll grow, so long as we keep the drill rig turning.”

Meanwhile, some 50 kilometresto the north east of Wagga Tank-Southern Lights is Mallee Bull, where past drilling has revealed high grade copper intercepts, including:

14.1 metres at 4.27 per cent copper, 51g/t silver and 0.25g/t gold from 262m;

11m at 9.02 per cent copper, 114g/t silver and 0.37g/t gold from 296m;

53m at 4.08 per cent copper, 42g/t silver and 0.22g/t gold from 470m;

69m at 3.48 per cent copper, 34g/t silver and 0.14g/t gold from 533m; and

84m at 4.42 per cent copper, 38g/t silver and 0.14g/t gold from 575m.

A 50:50 joint venture with CBH, which has already spent $12.8 million on the undertaking, Mallee Bull, currently enjoys a resource – using a 1% copper equivalent cut off – of 6.8 million tonnes at 1.8 per cent copper, 31g/t silver, 0.4g/t gold, 0.6 per cent lead and 0.6 per cent zinc (or a 2.6% copper equivalent).

During his RIU presentation, Tyson said Peel was in discussions with its JV partner regarding the project’s path forward following CBH’s recent decision to put its Endeavor base metals operation on care and maintenance after 37 years’ of more or less continual production.

“It (Mallee Bull) is really a significant copper system – it’s well defined already, but it is in need of a drill out,” he noted.

“Some of these intercepts are as good as you will see anywhere. In fact at the time they were reported they were amongst the best in the world.

“It seems a lot of people have forgotten about Mallee Bull – we certainly haven’t, and we’d like to get back in there, drill it out and then bring it to the scoping phase.”

Peel’s third major priority is the development of Wirlong, which sits around 75 km to the south east of Cobar and is currently half-owned by JOGMEC.

So far the Japanese resources house has spent $7.9 million helping evolve the ore body, where the rig has returned intercepts of:

9m at 3.29 per cent copper and 18g/t silver from 70m;

27m at 5.3 per cent copper and 23g/t silver from 286m;

31m at 3.19 per cent copper and 11g/t silver from 299m;

9m at 8 per cent copper, 17g/t silver and 0.21g/t gold from 616m; and

17m at 4.59 per cent copper and 8g/t silver from 738m.

Tyson said Wirlong was effectively a Cobar-style copper system, with the chalcopyrite-rich mineralisation defined from surface to 600m depth and open over a 500m strike length.

“We’ve just done some drilling and we’ve got some assays pending, and that drilling is designed to test a new structural model,” he explained.

“And I think the signs are very good – we now understand what controls the mineralisation, so we are looking to push that into a resource estimate in the June quarter.”

Although the Cobar region has a long and established mining history – having yielded some 2.5 million tonnes of copper, 4.8 million tonnes of zinc,2.8 million tonnes of lead, 4,000 tonnes of silver and 200 tonnes of gold over 150 years – Tyson firmly believes there is still further wealth to be found in this part of the world.

“Most of our ground holdings are in the southern part of the Cobar Basin and we believe that there’s heaps of upside,” he told RIU delegates.

“It was previously viewed as a mature exploration destination – our work has proven it’s anything but.”

 

 

THE DAILY ROADHOUSE

 

Encounter Resources Intersects Tanami Bedrock Gold

THE DRILL SERGEANT: Encounter Resources (ASX: ENR) reported on recent drilling activities undertaken at the Afghan and Mojave prospects in the Tanami region of Western Australia with Joint Venture partner Newcrest Mining.

Red 5 Continues Growth at King Of The Hill

THE DRILL SERGEANT: Red 5 Limited declared its decision in the December 2019 Quarter to boost underground drilling capacity at the company’s King of The Hill (KOTH) project in Western Australia with three diamond rigs, has paid off.

Peel Mining Drills New Southern Nights Gold Zone

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported the discovery of strong gold mineralisation associated with a new high-grade zone at the southern end of the Southern Nights deposit from the recent resource upgrade drilling program at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales.

Neometals Produces High Purity Dioxide Hydrolsate

THE BOURSE WHISPERER: Neometals (ASX: NMT) has successfully produced high purity (>98%) titanium hydrolysate (hydrated titanium dioxide ‐ TiO2.2H2O) from the titanium recovery stage of the Australian pilot plant trial at the company’s Barrambie titanium and vanadium project in Western Australia.

Magnetic Resources Encounters Encouraging Gold Results at Lady Julie

THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) has completed an initial RC drilling program at the Lady Julie project, not far from the company’s Hawks Nest 9 project, located near Laverton in Western Australia.

 

Peel Mining Drills New Southern Nights Gold Zone

THE DRILL SERGEANT: Peel Mining (ASX: PEX) reported the discovery of strong gold mineralisation associated with a new high-grade zone at the southern end of the Southern Nights deposit from the recent resource upgrade drilling program at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales.

Peel mining completed a drilling program in 2019 that was designed to develop a higher confidence Mineral Resource Estimate at Wagga Tank-Southern Nights.

The drilling was targeted towards the Wagga Tank, Southern Nights and the Corridor Zone located between Wagga Tank and Southern Nights.

This returned strong assay results, including some of the highest-grade gold mineralisation the company has intersected at Southern Nights to date:

WTRCDD238
35 metres at 6.3 per cent zinc, 2.59 per cent lead, 105 grams per tonne silver, 0.24 per cent copper, 1.87g/t gold from 232m, including 5.9m at 17.13 per cent zinc, 8.34 per cent lead, 376 g/t silver, 0.26 per cent copper, 7.6 g/t gold from 232.8m; and
7m at 13.3 per cent zinc, 4.4 per cent lead, 97 g/t silver, 0.1 per cent copper 0.89 g/t gold from 251m.

Peel Mining completed a review of these and other infill results, from which it determined that adequate drilling has now been completed to commence Mineral Resource Estimation work with an upgraded resource anticipated for March quarter 2020.

This resource will form the basis for further concept study work to progress the project towards development.

“The high-grade gold associated with the mineralisation in drillhole WTRCDD238 is a very welcome development for the Southern Nights system, all the more exciting as this area remains completely open to the south,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“More importantly, a recent review of resource upgrade drilling indicates good infill and extensional coverage has been established, supporting an update of the Mineral Resource Estimate.

“We look forward to providing an updated resource this quarter.”

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au

 

Peel Mining Identifies New Southern Nights Mineralised Zone

THE DRILL SERGEANT: Peel Mining (ASX: PEX) claimed discovery of a new high-grade zone to the south of the Southern Nights deposit at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, located south of Cobar in western New South Wales.

Peel Mining reported the discovery was made during an ongoing resource upgrade drilling program underway at Wagga Tank-Southern that had been primarily designed to develop higher confidence resources and to progress the project towards development.

The company said the new high-grade zone was encountered around 500 metres south of the high-grade Southern Nights Central Zone in an area that has been subjected to limited drilling, near the boundary of the existing resource model.

Drillholes WTRCDD229 and WTRCDDD238 intercepted healthy zones of very high-grade zinc and lead mineralisation, which the company said were similar to the intercepts returned from the Southern Nights Central Zone.

“The new high-grade intercepts at the southern edge of Southern Nights continue to underline the incredible quality and scale of these mineral systems,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“The latest intercepts are on the edge of the current resource model offering excellent exploration upside.

“Most importantly, this mineralisation adds further weight to the future development prospects of the project, highlighting the opportunity to increase the grade and tonnage profile of the deposit.”

Elsewhere at Southern Nights, Peel received results from several drillholes targeting infill and extensions at the northern end of the Southern Nights Central Zone.

WTRCDD186 returned several zones of mineralisation including:

10.66 metres at 4.27 per cent zinc, 1.32 per cent lead, 242 grams per tonne silver, 0.24g/t gold from 390.11m, including 5.22m at 7.39 per cent zinc, 2.25 per cent lead, 454g/t silver, 0.44g/t gold from 390.11m.

WTRCDD221 also returned several zones of mineralisation including:

6.6m at 4.37 per cent zinc, 2.02 per cent lead, 26g/t silver and 0.13g/t gold from 367.9m; and
6.04m at 3.89 per cent zinc, 0.23 per cent lead, 0.21 per cent copper, 10g/t silver and 0.46g/t gold from 381.46m.

Drilling at Wagga Tank was carried out to test for north-south extensions to the existing resource, shallower up-dip extensions to the resource, and also to provide infill drilling to improve the confidence of the resource.

The company said results it has received to date generally confirm the grade and continuity of mineralisation, and the modelled geometry of the deposit.

WTRCDD214 returned several zones of mineralisation including:

18.6m at 1.1 per cent copper, 0.32g/t gold from 124.4m, including 9m at 1.7 per cent copper, 0.39g/t gold from 134m; and
2m at 4.44g/t gold, 0.85 per cent copper, 20g/t silver from 275m.

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au

 

THE DAILY ROADHOUSE

 

Peel Mining Boosts Southern Nights Potential

THE DRILL SERGEANT: Peel Mining (ASX: PEX) has claimed discovery of new zones of mineralisation from an ongoing drilling campaign across the company’s 100 per cent-owned Wagga Tank project, south of Cobar in western New South Wales.

Cassini Resources Advances Mount Squires Gold Project

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced final results of recent RC drilling and future work plans at the company’s 100 per cent-owned Mount Squires project in the West Musgrave Province of Western Australia.

Barra Resources Drilling at Burbanks

THE DRILL SERGEANT: Barra Resources (ASX: BAR) has commenced a Reverse Circulation (RC) drilling program at the company’s Burbanks gold project, south of Coolgardie in Western Australia.

Geopacific Resources Raising $45M to Underpin Woodlark Project Development

THE BOURSE WHISPERER: Geopacific Resources (ASX: GPR) has completed a $40 million share placement and is subsequently offering a Share Purchase Plan (SPP) to raise up to a further $5 million to eligible shareholders.

PolarX Hits Mineralised Porphyry‐Style Veins at Mars

THE DRILL SERGEANT: PolarX Limited (ASX: PXX) has completed a single diamond drill hole into the Mars porphyry target within the company’s Alaska Range project in Alaska.

Pantoro Encounters Wide High-Grade Intercepts at Rowdies

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) has drilled high-grade extensions to the north Rowdies lode from results along strike of existing development in the upper levels of the Wagtail Underground Mine, part of the company’s 100 per cent-owned Halls Creek gold project in the Kimberley Region of Western Australia.

Peel Mining Boosts Southern Nights Potential

THE DRILL SERGEANT: Peel Mining (ASX: PEX) has claimed discovery of new zones of mineralisation from an ongoing drilling campaign across the company’s 100 per cent-owned Wagga Tank project, south of Cobar in western New South Wales.

Peel Mining returned resumed drilling at Wagga Tank-Southern Nights in August, with a program comprising around 10,000 metres of RC/diamond drilling primarily designed to develop higher confidence resources and to progress the project towards development.

This drilling has targeted both Wagga Tank and the Corridor Zone, located between Wagga Tank and Southern Nights and has resulted in the confirmation of strong new mineralisation in the Corridor Zone, which the company said highlights the potential for interconnected mineralisation between the Wagga Tank and Southern Nights deposits.

Drilling in the Corridor Zone, located between Wagga Tank and Southern Nights returned wide, high-grade intercepts highlighting the potential for a link between the two deposits, including:

WTRCDD141:
2.1 metres at 4.7 per cent copper, 129 grams per tonne silver, 0.15g/t gold, 0.4 per cent zinc, 0.5 per cent lead from 530.2m; and

58.3m at 5.4 per cent zinc, 2.3 per cent lead, 0.1 per cent copper, 24g/t silver, 0.31g/t gold from 546.7m, including 13.1m at 11.1 per cent zinc, 5.7 per cent lead, 0.05 per cent copper, 52g/t silver, 0.51g/t gold from 553.9m.

WTRCDD141W1:
9m at 7.6 per cent zinc, 4.7 per cent lead, 0.1 per cent copper, 153g/t silver, 0.46g/t gold from 501m, including 2.8m at 21.6 per cent zinc, 12.7 per cent lead, 0.4 per cent copper, 441g/t silver, 1.23g/t gold from 505.1m;

17m at 1.3 per cent copper, 25g/t silver, 0.14g/t gold, 0.1 per cent zinc, 0.1 per cent lead from 510m;

47m at 6.3 per cent zinc, 2.8 per cent lead, 0.05 per cent copper, 24g/t silver and 0.28g/t gold from 573m; and

53m at 3.4 per cent zinc, 1.9 per cent lead, 0.1 per cent copper, 24g/t silver and 0.46g/t gold from 626m.

Drilling at Wagga Tank deposit is around 60 per cent complete with initial results received from WTRCDD213, including:

20m at 1.52g/t gold, 4g/t silver, 0.2 per cent copper, 0.4 per cent lead from 80m.

The drill rig from the Corridor Zone has now relocated to Southern Nights to focus on infill and extensional drilling in the main resource area.

“This is a very exciting development, offering potential to infill the zone between Wagga Tank and Southern Nights, and further enhancing the development prospects of the project,” Peel Mining managing director Rob Tyson said in the company’s announcement to the Australian Securities Exchange.

“VMS and Cobar-style mineral systems are renowned for clustering and stacking and we see every chance that this will be the case here – we look forward to completing follow-up drilling in due course.

“In the meantime, we are continuing with resource upgrade drilling at Wagga Tank and Southern Nights to advance these deposits towards development.”

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au

 

Peel Mining Hits New Intercepts Within Wagga Tank Corridor Zone

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.

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au

 

Peel Mining Resumes Wagga Tank-Southern Nights Drilling

THE DRILL SERGEANT: Peel Mining (ASX: PEX) has resumed drilling at the company’s 100 per cent-owned Wagga Tank-Southern Nights project, south of Cobar in western New South Wales.

Peel Mining has two multi-purpose (RC/diamond) drill rigs on site to commence drilling.

The company recently declared a maiden Indicated and Inferred Mineral Resource Estimate (MRE) for Wagga Tank-Southern Nights 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 for 9.2 per cent zinc equivalent.

Peel explained the drilling program will comprise approximately 10,000m of RC and diamond drilling and is designed to continue to progress the Wagga Tank-Southern Nights project towards development.

“Drilling will primarily target higher grade areas of Inferred Resource with the aim of increasing confidence in these areas by converting further mineralisation to Indicated Resource classification,” Peel Mining said in its ASX announcement.

The drilling will focus initially on Wagga Tank consisting infill drilling combined with drilling to confirm historical high-grade intercepts that the company considers presents a good opportunity to rapidly improve the scale and quality of the Wagga Tank Mineral Resource.

Further infill drilling at Southern Nights will target higher-grade Inferred Resources to continue to improve resource confidence along with step out drilling along strike and downdip of the main resource area, testing for extensions to grow the overall resource base.

“On completion of drilling, an updated Mineral Resource Estimate will be undertaken which will then form the basis of a formal Scoping Study,” Peel said.

“In the meantime, an internal Scoping Study, which is now underway, will be completed to aid with the formal study process.”

 

Email: info@peelmining.com.au

Web: www.peelmining.com.au