http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 25 Apr 2018 04:19:02 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Peel Mining establishes link between Wagga Tank and Southern Nights zinc-rich deposits, shares up ]]> http://www.proactiveinvestors.com.au/companies/news/195102/peel-mining-establishes-link-between-wagga-tank-and-southern-nights-zinc-rich-deposits-shares-up-195102.html Peel Mining Ltd (ASX:PEX) has received a strongly mineralised intercept that establishes a link between the Wagga Tank and Southern Nights zinc-rich base and precious metals deposits in central New South Wales.

A new hole about 300 metres south of Wagga Tank and about 500 metres north of Southern Nights was designed to test a chargeable induced polarisation (IP) geophysical target.

It was intended to intercept the target at about 300 metres below the surface but a deviation resulted in the hole penetrating deeper.

The target was intercepted at about 415 metres below the surface, which is one of the deepest to date in the project area.

READ: Peel Mining drill results support potential for a cluster of high-grade deposits

This hole highlights the potential for down-dip mineralisation continuity, similar to that of other Cobar-style deposits where mineralisation is renowned for vertical continuity.

A zone of about 13 metres of massive to semi-massive pyrite-chalcopyrite-sphalerite-galena mineralisation was intercepted from about 436 metres.

Shares up 11%

Shares jumped 11% to 65 cents in early trade.

The zone is immediately along strike from Wagga Tank and Southern Nights, and coupled with other holes in the intervening area, provides a link between the two deposits.

Assays are expected in about three weeks.

Follow-up drilling in the corridor, which has at least a 2-kilometre strike extent, is planned in coming weeks.

Peel’s tenements in the Cobar Superbasin Project.

Wagga Tank is about 130 kilometres south of the mining centre of Cobar.

High-grade Southern Nights results

At Southern Nights, Peel has received further high-grade zinc-lead-silver-gold results.

Best results are 9.3 metres at 10.24% zinc, 0.44% lead, 0.31% copper, 23 g/t silver and 0.32 g/t gold from 261.9 metres, and 17 metres at 2.80% zinc, 0.96% lead, 0.21% copper, 469 g/t silver and 0.91 g/t gold from 181 metres.

As of April 16, 77 reverse circulation (RC) drill holes, 47 RC/diamond drill holes, 1 diamond drill hole and 335 RAB/aircore drill holes had been completed.

Drilling is continuing and is focused on extensional work.

READ: Peel Mining plans infill drilling to add to Mallee Bull copper-polymetallic resource

Peel is also undertaking follow-up drilling at Fenceline/The Bird prospect targeting extensions to previously intersected mineralisation.

The work is also testing IP chargeable anomalies away from any previous drilling.

First-pass drilling returned significant results, similar to those historically reported, that have confirmed the prospect’s potential.

Geophysical survey work

Peel is also continuing with IP geophysical surveys in the Wagga Tank/Southern Nights project area and an in-depth review of geophysical data is nearing completion.

First-pass metallurgical test work is continuing with follow-up work expected to start this quarter.

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Tue, 17 Apr 2018 12:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195102/peel-mining-establishes-link-between-wagga-tank-and-southern-nights-zinc-rich-deposits-shares-up-195102.html
<![CDATA[News - Peel Mining plans infill drilling to add to Mallee Bull copper-polymetallic resource ]]> http://www.proactiveinvestors.com.au/companies/news/193984/peel-mining-plans-infill-drilling-to-add-to-mallee-bull-copper-polymetallic-resource-193984.html Peel Mining Ltd (ASX:PEX) has identified potential to add to the resource at the Mallee Bull copper-polymetallic deposit near Cobar in New South Wales and will carry out infill drilling.

The company plans to begin a drilling program of about 3,300 metres within the next two weeks.

There are 11 reverse circulation pre-collar/diamond tail holes proposed with the aim of infilling to a maximum of about 30-metre spacing in the main zone of interest.

READ: Peel Mining drill results support potential for a cluster of high-grade deposits

Peel expects the program will take about four weeks to complete.

Drilling will also provide geotechnical information and material for further metallurgical test work if required.

This campaign will extend the timeframe for completion of a pre-feasibility study (PFS) for Mallee Bull to mid-year.

Work completed to date has involved refinement of the preferred PFS pathway.

Joint venture between Peel and CBH Resources

The Cobar-style Mallee Bull deposit is part of the Gilgunnia project, which is south of the mining centre of Cobar in central NSW.

The Mallee Bull deposit is about 100 kilometres south of Cobar.

Gilgunnia is a 50:50 joint venture between Peel and CBH Resources Limited, a wholly-owned subsidiary of Toho Zinc Co Ltd (TYO:5707).

READ: Peel Mining leveraged to partner’s review which identifies copper-gold priority targets

The aim of the PFS was to investigate the conceptual development of the Silver Ray lens as a ‘dig and truck’ operation.

This would see ore milled at CBH’s Endeavor mine about 150km away, where surplus milling capacity exists.

The JV partners believe the staged mining development of Mallee Bull could allow for a significant reduction in total capital expenditure.

PFS concepts considered open pit and underground mining of the Silver Ray lens, followed by the development of an exploration decline to about 300 metres below surface.

This would enable underground drilling of the primary Mallee Bull copper mineralisation.

Underground mining preferred

PFS work to date has shown that an underground mining scenario is the preferred route.

The need for infill drilling was determined following a review of the upper part of the Mallee Bull resource.

According to the 2014 maiden resource estimate, Mallee Bull hosts 3.9 million tonnes at 2.3% copper, 32 g/t silver and 0.3 g/t gold for 90,000 tonnes of copper, 4 million ounces of silver and 43,000 ounces of gold.

Potential to add mineralisation

The review identified potential to add further mineralisation to the scope of the PFS.

This was indicated by a cluster of strong intersections between about 180 and 300 metres below surface.

Current drill spacing between many of the previous holes precludes the ability to estimate an indicated resource for this area.

Mallee Bull is adjacent to the historic 4-Mile Goldfield and was initially identified as a coincident EM and magnetic geophysical anomaly in March 2011.

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Thu, 29 Mar 2018 11:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193984/peel-mining-plans-infill-drilling-to-add-to-mallee-bull-copper-polymetallic-resource-193984.html
<![CDATA[News - Peel Mining drill results support potential for a cluster of high-grade deposits ]]> http://www.proactiveinvestors.com.au/companies/news/193587/peel-mining-drill-results-support-potential-for-a-cluster-of-high-grade-deposits-193587.html Peel Mining Ltd (ASX:PEX) has received more drill results from its 100%-owned Wagga Tank/Southern Nights project south of Cobar in western New South Wales.

Drilling has revealed another high-grade target in The Bird/Fenceline prospect and has further increased the economic potential of the Southern Nights prospect.

Results continue to confirm Peel’s view that it has discovered a large or camp-scale base metal-rich mineral system comprising multiple high-grade deposits.

Significantly, the company also believes the deposits to be clustered within close proximity of one another.

Southern Nights extended to 700 metres, remains open in all directions

Shares jumped 9% to 71.5 cents in early trade.

The latest batch of assays from Southern Nights have extended the high-grade mineralised strike length to over 700 metres.

Importantly, it remains open in all directions.

New high-grade zinc-rich mineralisation from the southern end of Southern Nights includes:

• 12 metres at 16.11% zinc, 5.41% lead, 151 g/t silver, 0.44 g/t gold from 215 metres;
• 15 metres at 4.81% zinc, 2.31% lead, 0.61% copper, 66 g/t silver, 0.59 g/t gold from 234 metres; and
• 18 metres at 4.41% zinc, 1.57% lead, 19 g/t silver, 0.12 g/t gold from 274 metres.

Drill results from The Bird/Fenceline reveal potential

Initial drill results from The Bird/Fenceline prospect have confirmed an additional high-priority target with high-grade lead-silver-gold mineralisation.

Highlights from the latest assays included:

• 24 metres at 12.55% lead, 0.2% zinc, 68 g/t silver, 2.49 g/t gold from 118 metres including 13 metres at 21.49% lead, 0.27% zinc, 120 g/t silver, 4.36 g/t gold;
• 6 metres at 11.69% lead, 0.4% zinc, 39 g/t silver, 1.38 g/t gold from 91 metres including 3 metres at 20.95% lead, 0.61% zinc, 66 g/t silver, 2.08 g/t gold; and
• 2 metres at 7.48% zinc, 4.49% lead, 36 g/t silver, 0.21 g/t gold from 137 metres.

Survey suggests The Bird/Fenceline has size potential

Recently completed induced polarisation (IP) surveying at The Bird/Fenceline has revealed an anomaly that appears associated with the sulphide mineralisation.

The anomaly covers more than 2.5 kilometres along strike, with a significant chargeable zone at its northern end.

This area will be targeted by first-pass reverse circulation drilling in the coming weeks.

READ: Peel Mining intersects best ever high grade zinc intersection at Southern Nights Drilling is ongoing, first-pass metallurgical test work is underway

Reverse circulation and diamond drilling at the Wagga Tank/Southern Nights project is ongoing.

Upcoming drilling will be designed to continue to test for strike and dip extensions and to test other targets in the general Wagga Tank area.

Additional surface geophysical surveys are also planned to assist with targeting.

First-pass metallurgical test work is underway with follow-up work expected to commence during the next quarter.

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Thu, 22 Mar 2018 09:59:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193587/peel-mining-drill-results-support-potential-for-a-cluster-of-high-grade-deposits-193587.html
<![CDATA[News - Peel Mining leveraged to partner’s review which identifies copper-gold priority targets ]]> http://www.proactiveinvestors.com.au/companies/news/192140/peel-mining-leveraged-to-partners-review-which-identifies-copper-gold-priority-targets-192140.html Peel Mining Ltd (ASX:PEX) is leveraged to a review by Talisman Mining Ltd (ASX:TLM) of prospects in the Lachlan Copper-Gold Project of New South Wales which has identified targets for follow-up.

A portion of the areas reviewed to the southeast of mining centre Cobar is held by Peel and is subject to a farm-in agreement with Talisman.

The tenement is east of Peel’s primary areas of focus within the Cobar region in central New South Wales.

READ: Peel Mining leveraged to exploration upside as partner begins work

Talisman has completed a comprehensive compilation and review of historical drilling and other existing exploration data across its wholly-owned and joint venture tenure.

The review has highlighted that there has been no coordinated, systematic regional exploration across the tenement package.

Until now the package has been fragmented and under the control of multiple exploration companies.

First pass exploration work

In addition to the review, Talisman, in association with SRK Consulting, has undertaken a regional structural and geological interpretation as part of first pass exploration work.

This included a detailed geological review of major mineral deposits in the district, which has provided insight to the major regional controls on mineralisation.

The review by Talisman Mining encompassed tenements southeast of Cobar.

Talisman recently completed its second field visit to undertake reconnaissance field mapping and rock-chip sampling over known prospective areas.

Several priority areas identified

As a result of work to date, Talisman has highlighted several high priority areas for initial focus where more detailed geological interpretations have been completed or are underway.

Talisman intends to build a strong database of soil sampling, auger sampling, geological and structure mapping and geophysical surveys to develop and prioritise targets for drilling.

Under the farm-in agreement, Talisman has the right to earn up to 75% of two granted exploration licences through spending a total of $700,000 over five years.

The Cobar region is a richly mineralised district that hosts several base and precious metal mines including the CSA, Tritton and Hera/Nymagee mines.

READ: Peel Mining intersects best ever high grade zinc intersection at Southern Nights

Peel recently intersected high-grade zinc at the Wagga Tank/Southern Nights project in this area.

Results include 46 metres at 17.01% zinc, 9.57% lead, 272 g/t silver and 1.22 g/t gold from 201 metres at Southern Nights, which is the company’s best-ever intersection.

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Mon, 26 Feb 2018 09:08:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192140/peel-mining-leveraged-to-partners-review-which-identifies-copper-gold-priority-targets-192140.html
<![CDATA[News - Peel Mining set to benefit from oversubscribed Saturn Metals IPO ]]> http://www.proactiveinvestors.com.au/companies/news/191868/peel-mining-set-to-benefit-from-oversubscribed-saturn-metals-ipo-191868.html Peel Mining Ltd (ASX:PEX) is getting closer to unlocking the value of its Apollo Hill Gold Project in Western Australia through an IPO of subsidiary Saturn Metals Limited.

The IPO, which is offering 35 million shares priced at $0.20, has closed early with firm commitments leaving the offer heavily oversubscribed.

READ: Peel Mining to unlock value of gold asset through subsidiary spin-off

Saturn has received bids beyond the maximum $7 million subscription amount.

The expected date for Saturn shares to commence trading on the ASX is early March 2018 under the ticker STN.

Initial drilling to test for high-grade gold

Saturn’s exploration program is planned to commence in mid-March, immediately after listing.

This will feature a reverse circulation (RC) drilling campaign at the Apollo Hill resource area, which stands at 17.2 million tonnes at 0.9 g/t gold for 505,000 ounces.

This initial drilling will focus on testing for a higher grade architecture within the Apollo Hill resource.

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Tue, 20 Feb 2018 12:29:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191868/peel-mining-set-to-benefit-from-oversubscribed-saturn-metals-ipo-191868.html
<![CDATA[News - Peel Mining to unlock value of gold asset through subsidiary spin-off ]]> http://www.proactiveinvestors.com.au/companies/news/190711/peel-mining-to-unlock-value-of-gold-asset-through-subsidiary-spin-off-190711.html Peel Mining Ltd (ASX:PEX) aims to unlock the value of its Apollo Hill Gold Project in Western Australia through an IPO of subsidiary Saturn Metals Limited.

The IPO process is underway with a prospectus issued and Peel shareholders invited to participate in a priority offer.

Saturn Metals is seeking to raise a minimum of $4.5 million and up to $7 million of new equity capital at $0.20 per share.

Priority period for Peel shareholders

The priority offer period for Peel shareholders ends on 5 February 2018 with the public offer to open the following day, closing on 23 February.

Saturn Metal shares are expected to begin trading on the ASX on 15 March 2018.

Funds raised under the offer will be used to progress Saturn’s exploration activities at the Apollo Hill project.

Apollo Hill is circa 50 kilometres southeast of Leonora and comprises a tenements package of circa 1,000 square kilometres within the North-Eastern Goldfields.

READ: Peel Mining updates Apollo Hill gold resource ahead of proposed spin-off

It has a gold resource of 17.2 million tonnes at 0.9 g/t gold for 505,000 ounces.

Saturn aims to grow the resource base by targeting along strike potential where intersections of up to 5 metres at 25.9 g/t gold from 52 metres have been returned.

It also aims to increase the average grade of the existing resource base by targeting newly identified high grade plunging shoots and to test regional targets.

To achieve these goals Saturn is planning circa 20,000 metres of drilling this year.

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Mon, 29 Jan 2018 11:12:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190711/peel-mining-to-unlock-value-of-gold-asset-through-subsidiary-spin-off-190711.html
<![CDATA[News - Peel Mining substantial shareholder lifts stake, shares surge to 12-month high ]]> http://www.proactiveinvestors.com.au/companies/news/190590/peel-mining-substantial-shareholder-lifts-stake-shares-surge-to-12-month-high-190590.html Peel Mining Ltd’s (ASX:PEX) substantial shareholder Hampton Hill Mining NL (ASX:HHM) and associates have shown confidence in the company by lifting their combined interest to 19.3% from 18.25%.

The company’s zinc and base metals strategy has also attracted market attention with the company advancing almost 20% today to reach a new 12-month high of $0.78.

Peel is trading 270% higher than on October 9 2017.

READ: Peel Mining intersects best ever high grade zinc intersection at Southern Nights

Hampton Hill Mining and associates have acquired an additional 4.95 million shares since 8 November 2017.

The associates are Wythenshawe Pty Ltd, Perth Capital Pty Ltd, Warramboo Holdings Pty Ltd and The Wythenshawe Foundation.

Perth Capital, Warramboo Holdings and Hampton Hill took up 2.8 million shares in Peel's recent placement.

Shares purchased on market

Wythenshawe Pty Ltd, Warramboo and Perth Capital have subsequently purchased a further 2.15 million shares on market. 

Perth Capital now holds 10.3% of Peel, Hampton Hill 5.63%, Wythenshawe Pty Ltd 2.37%, Warramboo 0.97% and The Wythenshawe Foundation 0.03%.

St Barbara increases interest

Another Peel substantial shareholder, gold miner St Barbara Ltd (ASX:SBM) recently increased its stake in the company to 16.3% through the purchase of 10 million shares priced at $0.50.

Perth-based Hampton Hill holds a 25% contributing interest in the Millennium Zinc Project in Western Australia in joint venture with Encounter Resources Ltd (ASX:ENR).

It also holds a royalty interest over the central leases of Saturn Metals Limited's Apollo Hill Gold Project in the Western Australian goldfields.

Saturn Metals aims to list on the ASX in March 2018.

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Thu, 25 Jan 2018 14:39:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190590/peel-mining-substantial-shareholder-lifts-stake-shares-surge-to-12-month-high-190590.html
<![CDATA[News - Peel Mining intersects best ever high grade zinc intersection at Southern Nights ]]> http://www.proactiveinvestors.com.au/companies/news/190423/peel-mining-intersects-best-ever-high-grade-zinc-intersection-at-southern-nights-190423.html Peel Mining Ltd (ASX:PEX) has received high grade zinc-rich results from its project near the base metals mining centre of Cobar in western New South Wales.

Drilling completed at the Wagga Tank/Southern Nights project before Christmas has returned high grade zinc-lead-silver-gold intersections.

They include 46 metres at 17.01% zinc, 9.57% lead, 272 g/t silver and 1.22 g/t gold from 201 metres at Southern Nights, which is the company’s best-ever intersection.

Shares rise in early trade

Shares were up 14% to $0.645 in early trading.

Since 16 October 2017, shares are up almost 195%, including a 12-month high of $0.67 on 7 December.

READ: Peel Mining sees major ASX-listed gold miner increase stake

Assay results underscore the extensive and high grade nature of zinc-lead-silver-gold mineralisation present at the Southern Nights prospect.

The 46 metre intersection included 16 metres at 25.66% zinc, 15.01% lead, 361 g/t silver and 0.86 g/t gold from 218 metres, and 10 metres @ 31.45% zinc, 16.92% lead, 590 g/t silver and 3.2 g/t gold from 237 metres.

Other high grade zinc intersections included 29 metres at 6.10% zinc from 204 metres, 10 metres at 6.01% from 234 metres, 8 metres at 15.21% from 215 metres, 18 metres at 8.58% from 180 metres and 14 metres at 5.28% from 215 metres.

These intersections also had lead, silver and gold mineralisation.

Exploration resumes

Peel has resumed exploration at the project after the Christmas/New Year break.

Drilling at Southern Nights is continuing with two double shift diamond rigs working.

First-pass reverse circulation drilling at Fenceline/The Bird prospect, circa 5 kilometres east of Wagga Tank/Southern Nights, has recently started.

A fourth reverse circulation/diamond rig has resumed drilling at the Wirlong prospect, which is part of a farm-in agreement with JOGMEC.

Two geophysical crews are working in the Wagga Tank/Southern Nights area on induced polarisation and gravity surveys.

Systematic resource drill-out

In light of the recent Southern Nights results, the company plans a systematic resource drill-out of the area.

Up to 15,000 metres of reverse circulation/diamond drilling and up to 10,000 metres of RAB drilling is planned at Wagga Tank/Southern Nights in coming months.

This is designed to enable resource estimation, to continue testing for strike and dip extensions, and to test other targets in the general area.

First pass metallurgical test work is also expected to begin in coming weeks.

The project is circa 130 kilometres south of Cobar on the western edge of the Cobar Superbasin.

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Tue, 23 Jan 2018 12:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190423/peel-mining-intersects-best-ever-high-grade-zinc-intersection-at-southern-nights-190423.html
<![CDATA[News - Peel Mining leveraged to exploration upside as partner begins work ]]> http://www.proactiveinvestors.com.au/companies/news/190270/peel-mining-leveraged-to-exploration-upside-as-partner-begins-work-190270.html Peel Mining Ltd (ASX:PEX) has provided shareholders with another avenue for exploration success through its farm-in agreement with Talisman Mining Ltd (ASX:TLM).

Talisman has now has commenced on-ground exploration activities on the Lachlan Copper-Gold Project in New South Wales.

Under the farm-in agreement, Talisman has the right to earn up to 75% of two granted exploration licences through expending a total of $700,000 over 5 years.

Reconnaissance mapping and prospecting underway

Talisman has commenced reconnaissance field mapping and rock-chip sampling over prospective areas identified from desk-top studies.

Preparation work for the commencement of a geochemical drill campaign across multiple targets is underway.

Detailed regional structural review of controls to mineralisation is in final stages, with specific targeting exercise to follow.

READ: Peel Mining’s drilling reveals high grade zinc-lead-silver in New South Wales

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Peel had a successful 2017 year, which saw its share price triple.

The share price was largely driven by the high-grade zinc-lead-silver discovery made at the Southern Nights prospect within its Wagga Tank Project near Cobar in New South Wales.

The success of Peel has attracted the $1.9 billion gold miner St Barbara (ASX:SBM) as a major investor and shareholder.

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Fri, 19 Jan 2018 09:29:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190270/peel-mining-leveraged-to-exploration-upside-as-partner-begins-work-190270.html
<![CDATA[News - Peel Mining’s drilling reveals high grade zinc-lead-silver in New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/188913/peel-minings-drilling-reveals-high-grade-zinc-lead-silver-in-new-south-wales-188913.html Peel Mining Ltd (ASX:PEX) has received further high grade zinc-lead-silver drill intercepts from its Wagga Tank-Southern Nights project, south of Cobar in western New South Wales.

While most assays from the recent round of drilling are yet to be received, an intercept of 8 metres at 15.26% zinc, 7.44% lead, 177 g/t silver and 0.97 g/t gold from 195 metres was returned.

READ: Peel Mining sees major ASX-listed gold miner increase stake

Importantly, the drilling has extended the strike length of lead-zinc geochemical anomalism in the project area to circa 2.7 kilometres (open in all directions).

High-grade intercepts from Southern Nights prospect

Southern Nights, located 1 kilometres south of the high-grade Wagga Tank deposit, was identified in September this year and hosts significant Wagga Tank style mineralisation.

READ: Peel Mining extends high-grade Southern Nights discovery

The new result of 8 metres at 15.26% zinc and 7.44% lead from 195 metres provides further compelling evidence of the high-grade tenor of mineralisation at Southern Nights.

Furthermore, a diamond tail extension to the same hole intersected spectacular massive sphalerite-galena-pyrite sulphide mineralisation, from 218 metres to 245 metres downhole.

Assays from this hole are expected early in the New Year.

Strike length of the project extended

Follow-up drilling undertaken since mid-October has focused on testing the strike and depth potential of the Southern Nights prospect.

As of 17 December, 36 reverse circulation drill holes for 8,050 metres, 10 diamond drill holes for 3,653 metres and 103 rotrary air blast (RAB) drill holes for 8,637 metres have been completed.

The bulk of recent reverse circulation and diamond drilling has been focused at the main Southern Nights area where high-grade mineralisation has been identified over circa 300 metrs strike.

Encouragingly, RAB drilling has extended the strike of lead-zinc anomalism to circa 2.7 kilometres strike.

Further extensive drilling planned

Peel Mining has planned up to 15,000 metres of reverse circulation/diamond drilling, and up to 10,000 metres of RAB drilling over the coming months.

The drilling will be designed to continue to test for strike and dip extensions.

A portion of the drilling will be to test nearby prospects including the Fenceline prospect located circa 4 kilometres east of Wagga Tank where extensional geophysical surveys have recently been completed.

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Mon, 18 Dec 2017 11:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188913/peel-minings-drilling-reveals-high-grade-zinc-lead-silver-in-new-south-wales-188913.html
<![CDATA[News - Peel Mining sees major ASX-listed gold miner increase stake ]]> http://www.proactiveinvestors.com.au/companies/news/188092/peel-mining-sees-major-asx-listed-gold-miner-increase-stake-188092.html Peel Mining Ltd (ASX:PEX) has had major shareholder, St Barbara (ASX:SBM) increase its stake in the company to 16.3%.

The increase came about through the purchase of 10 million shares priced at $0.50.

St Barbara now holds 29.75 million shares in Peel.

READ: Peel Mining receives support in recent placement from major shareholder

Peel recently raised $6 million through the issue of 15 million shares at $0.40 as part of an oversubscribed placement to fund drilling at the Southern Nights discovery.

The high-grade zinc-lead-silver Southern Nights discovery is within the 100%-owned Wagga Tank project near Cobar, New South Wales.

READ: Peel Mining extends high-grade Southern Nights discovery

Shares in Peel have tripled in recent months, driven largely by the Southern Nights discovery.

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Fri, 01 Dec 2017 15:22:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188092/peel-mining-sees-major-asx-listed-gold-miner-increase-stake-188092.html
<![CDATA[News - Peel Mining receives support in recent placement from major shareholder ]]> http://www.proactiveinvestors.com.au/companies/news/187491/peel-mining-receives-support-in-recent-placement-from-major-shareholder-187491.html Peel Mining (ASX:PEX) has completed it recently outlined $6 million capital raising as it issued 15 million shares priced at $0.40 late last week.

Funds raised will allow accelerated evaluation of the new Southern Nights discovery, which will include a drilling program of up to 30,000 metres on the tenements.

The Southern Nights high-grade zinc-lead-silver discovery is located within its Wagga Tank Project near Cobar in New South Wales.

Major shareholder and $1.5 billion gold miner St Barbara (ASX:SBM) participated in the share placement and increased its shareholding to 19.75 million shares for 10.8% voting power.

READ NOW: Peel Mining raises capital to drill out new discovery ]]>
Mon, 20 Nov 2017 19:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187491/peel-mining-receives-support-in-recent-placement-from-major-shareholder-187491.html
<![CDATA[News - Peel Mining extends high-grade Southern Nights discovery ]]> http://www.proactiveinvestors.com.au/companies/news/187120/peel-mining-extends-high-grade-southern-nights-discovery-187120.html Peel Mining (ASX:PEX) has received drill results extending the high-grade zinc-lead-silver Southern Nights discovery within its 100%-owned Wagga Tank project near Cobar, New South Wales.

New assays feature 22 metres at 8.48% zinc, 3.06% lead, 115 g/t silver, 0.24 g/t gold from 161 metres.

Follow-up drilling has now extended the strike of significant zinc mineralisation at the Southern Nights discovery to 700 metres in length with mineralisation open in all directions.

Drilling is continuing with expansion and acceleration of field activities underway.

Up to 60 additional reverse circulation and diamond drill holes are planned over the coming months.

Drill result details

22 reverse circulation drill holes for 4,972 metres have been completed to date at the Southern Nights prospect.

Latest assays feature:

- 22 metres at 8.48% zinc, 3.06% lead, 115 g/t silver, 0.24 g/t gold from 161 metres including 8 metres at 16.21% zinc, 6.18% lead, 248 g/t silver, 0.28 g/t gold; and
- 10 metres at 16.28% zinc, 11.17% lead, 387 g/t silver, 0.63 g/t gold from 148 metres including 6 metres at 26.18% zinc, 18.00% lead, 608 g/t silver, 0.98 g/t gold.

The stratigraphic unit host to Wagga Tank mineralisation, the Vivigani Formation, has been intercepted in nearly all drill holes.

Southern Nights discovery

The Southern Nights prospect is located ~1 kilometre south of the high-grade zinc-lead-silver-gold-copper Wagga Tank deposit.

Follow-up drilling undertaken over the past month has primarily tested the strike potential of this newly-recognised mineralisation

Peel recently raised $6 million through the issue of 15 million shares at $0.40 as part of an oversubscribed placement to fund drilling.

READ NOW: Peel Mining raises capital to drill out new discovery

First assays from the Southern Nights prospect were received in late October.

READ NOW: Peel Mining shares surge on confirmed high-grade zinc discovery ]]>
Mon, 13 Nov 2017 14:45:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187120/peel-mining-extends-high-grade-southern-nights-discovery-187120.html
<![CDATA[News - Peel Mining raises capital to drill out new discovery ]]> http://www.proactiveinvestors.com.au/companies/news/186982/peel-mining-raises-capital-to-drill-out-new-discovery-186982.html Peel Mining (ASX:PEX) has successfully raised $6 million through the issue of 15 million shares at $0.40 as part of an oversubscribed placement to sophisticated and institutional investors.

Shares in Peel have more than doubled over the past month, driven by the high-grade zinc-lead-silver discovery made at the Southern Nights prospect within its Wagga Tank Project near Cobar in New South Wales.

Recent assay results from Southern Nights include 21 metres at 31.02% zinc, 12.05% lead, 258 g/t silver, 1.43 g/t gold from 194 metres.

READ NOW: Peel Mining shares surge on confirmed high-grade zinc discovery

Funds raised will allow accelerated evaluation of the new Southern Nights discovery, which will include a drilling program of up to 30,000 metres on the tenements.

Proceeds from the $6 million capital raising will also be used to fund pre-development activities at the 50%-owned Mallee Bull polymetallic project, also located in the Cobar Basin.

Rob Tyson, managing director, commented

“We are extremely pleased with the level of interest in the placement from both existing shareholders and new investors as it has ensured we have the funding to properly test Southern Nights and the broader Wagga Tank area.

“Early indications are that the project has the potential to host a major mineralised system.”

Project portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull (50%, NSW): An advanced copper polymetallic deposit that remains open in many directions;
- Wagga Tank (100%, NSW): A polymetallic VHMS-type deposit that also hosts the recent Southern Nights discovery prospect;
- Cobar Superbasin (60%, NSW): Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Apollo Hill (100%, WA): Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga (100%, NSW): A high-grade tungsten deposit.

The Mallee Bull, Cobar Superbasin and Wagga Tank projects are all located near Cobar in western New South Wales.

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Thu, 09 Nov 2017 14:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186982/peel-mining-raises-capital-to-drill-out-new-discovery-186982.html
<![CDATA[News - Peel Mining moves towards finalising raising ]]> http://www.proactiveinvestors.com.au/companies/news/186905/peel-mining-moves-towards-finalising-raising-186905.html Peel Mining Ltd (ASX:PEX) is working on the final details of a capital raising, and the ASX has granted the  company a voluntary suspension following on from a trading halt.

Peel's shares have most recently been trading near 12-month highs around $0.45 following the discovery of high-grade zinc-lead-silver within its Wagga Tank Project near Cobar in New South Wales.

READ NOW: Peel Mining shares surge on confirmed high-grade zinc discovery ]]>
Wed, 08 Nov 2017 10:29:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186905/peel-mining-moves-towards-finalising-raising-186905.html
<![CDATA[News - Peel Mining's zinc discovery provides opportunity to raise funds ]]> http://www.proactiveinvestors.com.au/companies/news/186767/peel-mining-s-zinc-discovery-provides-opportunity-to-raise-funds-186767.html Peel Mining Ltd's (ASX:PEX) shares are trading near 12-month highs following the discovery of high-grade zinc-lead-silver within its Wagga Tank Project near Cobar in New South Wales.

Peel last traded at $0.45, more than double its valuation from one month ago.

READ NOW: Peel Mining shares surge on confirmed high-grade zinc discovery

The company is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Wednesday 8th November 2017, or earlier if an announcement is made to the market.

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Mon, 06 Nov 2017 13:01:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186767/peel-mining-s-zinc-discovery-provides-opportunity-to-raise-funds-186767.html
<![CDATA[News - Peel Mining shares surge on confirmed high-grade zinc discovery ]]> http://www.proactiveinvestors.com.au/companies/news/186394/peel-mining-shares-surge-on-confirmed-high-grade-zinc-discovery-186394.html Peel Mining (ASX:PEX) has drilled out a very high-grade zinc-lead-silver intersection at the Southern Nights prospect within its Wagga Tank Project near Cobar in New South Wales.

Assay results include 21 metres at 31.02% zinc, 12.05% lead, 258 g/t silver, 1.43 g/t gold from 194 metres.

These assay results confirm the initial pre-assay XRF readings, which originally drew investor’s attention on October 19, 2017.

READ NOW: Peel Mining positively re-rated after zinc-rich discovery near Cobar

Significantly, follow-up drilling undertaken since October 19 has intercepted further significant zinc-rich mineralisation.

Drilling remains ongoing with further assays pending.

Drill result details

Assay results have been received for holes WTRC035 and WTRC033 drilled at the Southern Nights prospect.

Results include:

- 21 metres at 31.02% zinc, 12.05% lead, 258 g/t silver, 1.43 g/t gold from 194 metres; and
- 58 metres at 3.88% zinc, 1.19% lead, 28 g/t silver, 0.28 g/t gold from 139 metres including 9 metres at 8.84% zinc, 2.07% lead, 14 g/t silver, 0.58 g/t gold.

Southern Nights is located one kilometre south of the high-grade zinc-lead-silver-copper-gold Wagga Tank deposit.

11 holes completed define 280 metres of strike

Follow-up drilling at Southern Nights recommenced several weeks ago, with 11 reverse circulation holes for 2,565 metres now complete.

Encouragingly, the stratigraphic unit that hosts the Wagga Tank mineralisation, the Vivigani Formation, appears to have been intercepted in all drill holes.

Significant mineralisation appears to have been intercepted in seven drill holes.

Drilling has now defined the Vivigani Formation over the entire 280 metres of strike length tested so far.

Drilling continues

Drilling at Southern Nights is ongoing with six additional reverse circulation holes planned in the near term.

These holes will be designed to primarily test for strike extensions.

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Mon, 30 Oct 2017 16:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186394/peel-mining-shares-surge-on-confirmed-high-grade-zinc-discovery-186394.html
<![CDATA[News - Peel Mining positively re-rated after zinc-rich discovery near Cobar ]]> http://www.proactiveinvestors.com.au/companies/news/185834/peel-mining-positively-re-rated-after-zinc-rich-discovery-near-cobar-185834.html Peel Mining Ltd's (ASX:PEX) shares have soared 47% to $0.33 in morning trade with 1.3 million changing hands, as the latest results support the potential of the wholly-owned Wagga Tank project hosting a major high-grade mineral system.

Wagga Tank is a polymetallic VHMS-type deposit, and is located in a key mining district south of Cobar in western New South Wales.

While the drilling results are pending, XRF results include:

- 21 metres at 24.5% zinc, 8.6% lead and 102g/t silver from 194 metres; and

- 70 metres at 4.8% zinc, 1.0% lead and 18g/t silver from 128 metres.

Drilling is part of a follow-up program of four reverse circulation holes.

Of these, three intersected broad zones of strongly anomalous zinc-lead-silver mineralisation, and two intersected very high-grade zinc-lead-silver-rich sulphides, including massive sulphides.

Importance of Southern Nights prospect

Today's results are from the Southern Nights prospect, located 1 kilometre south of the high-grade zinc-lead-silver-gold-copper Wagga Tank deposit.

The discovery of this near-surface, zinc-rich mineralisation supports the company’s view that the Wagga Tank/Southern Nights area has the potential to host a major, high-grade, base/precious metals mineral system.

Analysis

The tenor of mineralisation discovered at Southern Nights ranks as the best zinc-lead-silver mineralisation encountered to date by Peel.

The assays will then show if it ranks as the number one intercept since the company’s inception.

Peel will now place priority attention on Wagga Tank/Southern Nights over the coming weeks and months as drilling continues.

The forward plan includes at least another ten reverse circulation holes in the near term.

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Thu, 19 Oct 2017 10:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185834/peel-mining-positively-re-rated-after-zinc-rich-discovery-near-cobar-185834.html
<![CDATA[News - Peel Mining has exploration news on the table ]]> http://www.proactiveinvestors.com.au/companies/news/185683/peel-mining-has-exploration-news-on-the-table-185683.html Peel Mining Ltd (ASX:PEX) has been granted a trading halt by the ASX, pending details of an exploration update.

Peel is focused on the Mallee Bull project near Cobar in New South Wales, which is a 50:50 joint venture with CBH Resources Limited (CBH).

A recent resource upgrade delivered a 65% increase in total contained copper equivalent tonnes and comprises 6.76 million tonnes at 1.8% copper, 31 g/t silver, 0.4 g/t gold, 0.6% lead and 0.6% zinc for a 2.6% copper equivalent.

The halt will remain in place until the opening of trade on Thursday 19th October 2017, or earlier if an announcement is made to the market.

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Tue, 17 Oct 2017 14:16:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185683/peel-mining-has-exploration-news-on-the-table-185683.html
<![CDATA[News - Peel Mining updates Apollo Hill gold resource ahead of proposed spin-off ]]> http://www.proactiveinvestors.com.au/companies/news/184183/peel-mining-updates-apollo-hill-gold-resource-ahead-of-proposed-spin-off-184183.html Peel Mining Ltd (ASX:PEX) has updated the gold resource at its Apollo Hill project in Western Australia to comply with the 2012 version of the JORC code.

Apollo Hill is located circa 50 kilometres southeast of Leonora and comprises a tenements package covering circa 1,000 square kilometres within the North-Eastern Goldfields of Western Australia.

The gold resource of 17.2 million tonnes at 0.9 g/t gold for 505,000 ounces of gold (using 0.5 g/t gold cutoff) was previously reported in September 2011 under the 2004 version of the JORC code.

The new update brings this Apollo Hill resource estimate into line with JORC Code 2012.

This update has been done in anticipation of Peel’s plan to unlock the value of the Apollo Hill Gold Project through an initial public offer (IPO).

The proposed transaction will have Peel vending Apollo Hill into subsidiary Saturn Metals Limited, which would then IPO on the ASX.

As nominee, Apollo would receive 20 million shares as consideration for the Apollo Hill assets.

The plan for Saturn IPO would be to seek to raise up to $7 million through the issue of up to 35 million shares at $0.20.

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Tue, 19 Sep 2017 14:29:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184183/peel-mining-updates-apollo-hill-gold-resource-ahead-of-proposed-spin-off-184183.html
<![CDATA[News - Peel Mining to monetise Apollo Hill Gold Project; focus on Mallee Bull copper ]]> http://www.proactiveinvestors.com.au/companies/news/183702/peel-mining-to-monetise-apollo-hill-gold-project-focus-on-mallee-bull-copper-183702.html Peel Mining Ltd (ASX:PEX) currently has two flagship assets, and the company is now moving towards  unlocking value in the wholly-owned Apollo Hill Gold Project in Western Australia through an Initial Public Offer (IPO).

The proposed transaction will have Peel vending Apollo Hill into subsidiary Saturn Metals Limited, which would then IPO on the ASX.

As nominee, Apollo would receive 20 million shares as consideration for the Apollo Hill assets.

The plan for Saturn IPO would be to seek to raise up to $7 million through the issue of up to 35 million shares at $0.20.

Rob Tyson, managing director for Peel, commented:

"The Apollo Hill gold assets were originally acquired as the company’s flagship assets, however the discovery of the Mallee Bull copper deposit in the Cobar Basin effectively put Peel in the fortunate position of having two flagships.

"Over time, Peel’s attention has firmly fixed on the exciting potential of our landholding in Cobar.

"It is now time to unlock the inherent value in the wonderful Apollo Hill real estate by giving it a true life of its own."

A general meeting of shareholders will be held in October to approve the disposal of the assets.

Mallee Bull joint venture

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

A recent resource upgrade delivered a 65% increase in total contained copper equivalent tonnes and comprises 6.76 million tonnes at 1.8% copper, 31 g/t silver, 0.4 g/t gold, 0.6% lead and 0.6% zinc for a 2.6% copper equivalent.

The metal content is circa 119,000 tonnes of copper, 6.6 million ounces silver, 83,000 ounces gold, 38,000 tonnes of lead and 38,000 tonnes of zinc for 175,000 tonnes of copper equivalent.

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Mon, 11 Sep 2017 08:49:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183702/peel-mining-to-monetise-apollo-hill-gold-project-focus-on-mallee-bull-copper-183702.html
<![CDATA[News - Peel Mining delivers more high-grade zinc-lead-silver ahead of pre-feasibility study ]]> http://www.proactiveinvestors.com.au/companies/news/182649/peel-mining-delivers-more-high-grade-zinc-lead-silver-ahead-of-pre-feasibility-study-182649.html Peel Mining Ltd's (ASX:PEX) most advanced asset is its Mallee Bull Project, located near Cobar in western New South Wales.

The latest resource definition drilling delivered highlights including: 9 metres at 20.82% zinc, 10.64% lead, 338g/t silver and 1.91g/t gold from 88 metres; and 9 metres at 10.80% zinc, 6.89% lead, 337g/t silver and 0.45g/t gold from 129 metres.

News flow will continue from the project, with metallurgical work continuing, and a pre-feasibility study due for completion in September.

READ: Peel Mining intersects more copper and silver at Wirlong

The study is on the high-grade, near-surface zinc-lead-silver-gold T1 lens.

The aim of the study is to investigate the conceptual development of T1 as a “dig and truck” operation, under which ore would be milled at CBH Resources’ Endeavor mine located 150 kilometres away, where surplus milling capacity exists.

A site visit is to be conducted next week by Peel and 50:50 joint venture partner CBH, with discussions focused on development scenarios and timelines.

Portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.

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Fri, 18 Aug 2017 14:56:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182649/peel-mining-delivers-more-high-grade-zinc-lead-silver-ahead-of-pre-feasibility-study-182649.html
<![CDATA[News - Peel Mining intersects more copper and silver at Wirlong ]]> http://www.proactiveinvestors.com.au/companies/news/182027/peel-mining-intersects-more-copper-and-silver-at-wirlong-182027.html Peel Mining (ASX:PEX) has drilled more high grades of copper and silver at its 60%-owned Wirlong prospect within the Cobar Superbasin project located near Cobar in New South Wales.

Intercepts include 27 metres at 5.3% copper, 23 g/t silver from 286 metres.

Ongoing drilling is aimed at better defining and extending the known footprint of significant copper mineralisation.

Wirlong bears the hallmarks of a Cobar-style deposit, with many similarities to Glencore PLC’s (LON:GLEN) CSA copper mine.

Further assays remain pending and are expected.

Drill result details

Drill holes WLRC026 and WLRC052 returned very strong chalcopyrite-dominant drill intercepts.

Assay results from WLRC026 have now been received with the tenor of copper mineralisation substantially higher than initially indicated by portable XRF analyser.

WLRC026 returned 27 metres at 5.3% copper, 23 g/t silver from 286 metres representing the most significant drill result at Wirlong to date.

Preliminary assays from WLRC052 suggest a zone of strong mineralisation, which measured 5 metres at 15.75% copper, 52 g/t silver from 299 metres.

Full assays for WLRC052 remain pending.

Evidence of Cobar-style deposit, widths yet to be known

Recent drilling results indicate that the Wirlong copper system is structurally dislocated and possibly constitutes a series of stacked, short-strike length, shoot-like structures.

This is a typical feature of Cobar-style mineralisation and deposits.

The true width remains unknown at this point, however it is considered likely that mineralisation is sub-vertical in nature, therefore true widths would be circa 60-80% of downhole widths.

Project portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull (50%, NSW): An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin (60%, NSW): Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank (100%, NSW): A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill (100%, WA): Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga (100%, NSW): A high-grade tungsten deposit.

The Mallee Bull, Cobar Superbasin and Wagga Tank projects are all located near Cobar in western New South Wales.

Peel and its joint venture partner JOGMEC remain highly encouraged by results at Wirlong to date, and by the obvious economic potential of its copper system.

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Mon, 07 Aug 2017 13:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182027/peel-mining-intersects-more-copper-and-silver-at-wirlong-182027.html
<![CDATA[News - Peel Mining drill results build case for Cobar Basin mining camp ]]> http://www.proactiveinvestors.com.au/companies/news/181102/peel-mining-drill-results-build-case-for-cobar-basin-mining-camp-181102.html Peel Mining (ASX:PEX) continues to receive impressive drilling results across its three core projects near Cobar located in western New South Wales.

Drilling recently finished at the T1 prospect within the Mallee Bull Project, while drilling continues at the Wirlong prospect and Wagga Tank project.

Highlights from the recent assays from T1 infill drilling for pre-feasibility purposes includes 16 metres at 13.52% zinc, 7.61% lead, 191 g/t silver and 1.31 g/t gold from 74 metres.

Preliminary drilling results taken by portable XRF ray guns from Wirlong includes 26 metres at 2.89% copper from 286 metres .

Similar XRF preliminary results from Wagga Tank include 6 metres at 7.37% zinc, 1.81% lead and 10g/t silver from 282 metres.

Official lab assays from drilling at Wirlong and Wagga Tank remain pending.

Project portfolio

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull (50%, NSW): An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin (60%, NSW): Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank (100%, NSW): A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill (100%, WA): Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga (100%, NSW): A high-grade tungsten deposit.

The Mallee Bull, Cobar Superbasin and Wagga Tank projects are all located near Cobar in western New South Wales.

Latest drill results from Mallee Bull

Infill drilling from the T1 prospect within the Mallee Bull project has intersected new high-grade zinc-lead-silver mineralisation with better results including:

- 16 metres at 13.52% zinc, 7.61% lead, 191 g/t silver and 1.31 g/t gold from 74 metres;
- 5 metres at 5.47% zinc, 7.63% lead, 102 g/t silver and 0.14 g/t gold from 76 metres;
- 3 metres at 19.79% lead, 53 g/t silver and 0.36 g/t gold from 62 metres;
- 4 metres at 5.64% zinc, 3.29% lead, 52 g/t silver and 0.20 g/t gold from 64 metres; and
- 4 metres at 6.76% lead, 46 g/t silver and 0.53 g/t gold from 62 metres.

Drilling at T1 is now complete with further assays pending.

Metallurgical and geotechnical work is continuing and environmental baseline studies have commenced.

XRF preliminary results promising at Wirlong and Wagga Tank

While official assays remain pending at the Wirlong prospect within the Cobar Superbasin Project and from the Wagga Tank Project, preliminary results have been attained using XRF guns.

At Wirlong, the portable XRF analyser has measured results including:

- 26 metres at 2.89% copper from 286 metres;
- 9 metres at 8.59% copper from 299 metres; and
- 23 metres at 0.82% copper from 179 metres.

At Wagga Tank, the portable XRF analyser has measured results including:

- 6 metres at 7.37% zinc, 1.81% lead, 10 g/t silver from 282 metres.

Building a mining camp starting with T1

The results support Peel’s belief in the potential of its strategic land position in the Cobar Basin and the company’s aim of building a camp of high-grade base and precious metals deposits that can ultimately be developed into mines.

The T1 discovery was made after the original Mallee Bull deposit was drilled out but due to its near-surface position, it is the most likely deposit to enter near-term production.

Peel is currently undertaking a pre-feasibility study on the high-grade, near-surface zinc-lead-silver-gold T1 lens at the Mallee Bull Project.

The aim of the study is to investigate the conceptual development of T1 as a dig-and-truck starter operation, under which ore would be milled at joint venture partner CBH’s Endeavor mine approximately 150 kilometres away, where surplus milling capacity exists.

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Wed, 19 Jul 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181102/peel-mining-drill-results-build-case-for-cobar-basin-mining-camp-181102.html
<![CDATA[News - Peel Mining Ltd swells Mallee Bull resource size ]]> http://www.proactiveinvestors.com.au/companies/news/180424/peel-mining-ltd-swells-mallee-bull-resource-size-180424.html Peel Mining Ltd (ASX:PEX) has increased its JORC resource estimate by 65% to 175,000 tonnes of copper equivalent for the 50% owned Mallee Bull deposit near Cobar, New South Wales.

The updated resource measures 6.76 million tonnes at 1.8% copper, 31 g/t silver, 0.4 g/t gold, 0.6% lead and 0.6% zinc or 2.6% copper equivalent.

This results in contained metals measuring 119,000 tonnes copper, 6.6 million ounces silver, 83,000 ounces gold, 38,000 tonnes zinc and 38,000 tonnes lead.

Rob Tyson, managing director, commented: “The updated mineral resource estimate for Mallee Bull demonstrates the significant exploration success achieved over the last three years.

“This success is highlighted by the addition of lead and zinc mineralisation into the estimate, underpinned by the discovery of near-surface, high-grade zinc-lead-silver mineralisation at T1.

“T1 is now the focus of activity where pre-feasibility work is investigating the potential for an early production opportunity.”


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Mallee Bull

The Mallee Bull project is a 50:50 joint venture with CBH Resources Ltd and is Peel’s most advanced asset.

Since its maiden resource of May 2014, a number of highly mineralised extensional intercepts have been drilled and extensional work programs are continuing at Mallee Bull.

In May 2015, the T1 near-surface high-grade zinc-lead-silver-gold discovery was made.

The T1 target returned shallow, high-grade mineralisation including:

⁻ 12 metres at 35.1% lead-zinc, 308 g/t silver, 1.59 g/t gold from 83 metres;
⁻ 7 metres at 34.1% lead-zinc, 203 g/t silver, 0.58 g/t gold from 71 metres; and
⁻ 10 metres at 23.4% lead-zinc, 322 g/t silver, 1.28 g/t gold from 106 metres.

T1 is defined as massive and stringer sulphide mineralisation, varying from 2-20 metres true thickness, commencing at ~50 metres below surface, extending to at least 120 metres below surface, and with a known strike extent of ~60 metres.

In September 2016, a significant copper intercepts discovered Mallee Bull North, located 300 metres from Mallee Bull.


Analysis

Peel’s focus at Mallee Bull is now firmly set on T1 where pre-feasibility work is investigating the potential for an early production opportunity.

Infill, metallurgical and geotechnical drilling is nearing completion at T1 with assays pending.

Metallurgical test work is continuing, which builds on from the positive flotation test work results received in May.

These early results support Peel’s view that T1 potentially represents an attractive early production opportunity that can be pursued ahead of the main Mallee Bull development.

Peel expects to complete the pre-feasibility study by end September quarter, and provided the findings are positive, will proceed with a definitive feasibility study shortly thereafter.

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Thu, 06 Jul 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180424/peel-mining-ltd-swells-mallee-bull-resource-size-180424.html
<![CDATA[News - Peel Mining extends copper depth at Wirlong ]]> http://www.proactiveinvestors.com.au/companies/news/177897/peel-mining-extends-copper-depth-at-wirlong-177897.html Peel Mining (ASX:PEX) has extended the depth of known copper mineralisation by 350 metres at the 60% owned Wirlong prospect within the Cobar Superbasin project in New South Wales.

Drill hole WLRCDD044 intercepted the host copper mineralising structure at 950 metres below surface confirming nearly one kilometre of mineralisation continuity.

This exploration success builds a stronger case for Wirlong to host a Cobar-style deposit, which are renowned for vertical continuity of mineralisation.

Australia’s highest grade copper mine is an example of a Cobar-style deposit, showing strong vertical development of mineralisation to more than 2,000 metres below surface.

Peel and its joint venture partner JOGMEC have agreed to extend the current work program, commencing with a new drill hole currently underway targeting an off-hole conductor.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Wagga Tank drilling resumed

Drilling at its 100%-owned Wagga Tank project near Cobar has resumed with a focus on targeting extensions to the known mineralised system.

Peel anticipates an initial program of up to 3,000 metres of reverse circulation and diamond drilling aimed at extending the footprint of mineralisation at Wagga Tank.

First results are anticipated in 6-8 weeks.

The project has been effectively landbanked by majors since last drilling in 1989.

42 historical drill holes included highlights of:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
- 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
- 25.9 metres at 8.74% zinc, 3.39% lead, 82 g/t silver from 141.6 metres;
- 15.7 metres at 10.39% zinc, 4.43% lead, 69 g/t silver from 215.6 metres;
- 24 metres at 2.73% copper, 0.56 g/t gold, 13 g/t silver from 86 metres; and
- 20.3 metres at 2.17% copper, 0.76 g/t gold, 9 g/t silver from 184.4 metres.

Peel’s maiden 18-drillhole program targeting primary mineralisation confirms historical data and 7 holes require extension.

Highlights included:

- 12 metres at 3.09% copper, 97 g/t silver, 1.36 g/t gold from 92 metres;
- 8 metres at 8.54% zinc, 6.20% lead, 134 g/t silver, 1.45% copper from 173 metres;
- 27 metres at 10% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres;
- 15 metres at 8.5% zinc, 4.11% lead, 114 g/t silver, 1.57 g/t gold, 0.3% copper from 280 metres;
- 17 metres at 2.65 g/t gold, 0.54% copper, 11 g/t silver from 211 metres; and
- 16 metres at 3.27 g/t gold, 0.35% copper, 1.1% zinc, 0.57% lead, 12 g/t silver from 226 metres.

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Wed, 17 May 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177897/peel-mining-extends-copper-depth-at-wirlong-177897.html
<![CDATA[News - Peel Mining hits high grades with met testing hole ]]> http://www.proactiveinvestors.com.au/companies/news/177481/peel-mining-hits-high-grades-with-met-testing-hole-177481.html Peel Mining (ASX:PEX) has received positive flotation test work results using drilled high grade zinc-lead-silver at the 50% owned Mallee Bull deposit near Cobar in New South Wales.

The metallurgical drill hole at Mallee Bull’s T1 lens returned the best zinc-lead-silver intercept to date of 13.5 metres at 21.1% zinc, 14.1% lead and 268 g/t silver from 82 metres.

The positive metallurgy results support Peel’s view that T1 potentially represents an attractive early production opportunity that can be pursued ahead of the main Mallee Bull development.

An infill drilling program at T1 has today commenced comprising circa 27 drill holes for 4,000 metres.

This drilling along with additional metallurgical test work will underpin a prefeasibility study into the potential early development of the T1 lens.


Metallurgy results

The metallurgical flotation test work at T1 represents the first test work focussed on the significant T1 zinc-lead-silver mineralisation.

Preliminary metallurgical results have shown excellent overall metal recoveries of up to 90.3% zinc, 92.3% lead, and 82.3% silver.

The full elemental analysis remains pending, which will include gold mineralisation.

Ongoing flotation test work, particularly with respect to selectivity between lead and zinc, is anticipated to improve on these results.

Gold analysis is to be included in this work. Further results are expected during the current quarter.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Mallee Bull

The Mallee Bull project is a 50:50 joint venture with CBH Resources Ltd and is Peel’s most advanced asset.

A maiden JORC resource was released in May 2014 of 3.9 million tonnes grading 2.3% copper, 32 g/t silver and 0.3 g/t gold.

Since then, a number of highly mineralised extensional intercepts have been drilled and extensional work programs are continuing at Mallee Bull.

In May 2015, the T1 near-surface high-grade zinc-lead-silver-gold discovery was made.

The T1 target returned shallow, high-grade mineralisation including:

⁻ 12 metres at 35.1% lead-zinc, 308 g/t silver, 1.59 g/t gold from 83 metres;
⁻ 7 metres at 34.1% lead-zinc, 203 g/t silver, 0.58 g/t gold from 71 metres; and
⁻ 10 metres at 23.4% lead-zinc, 322 g/t silver, 1.28 g/t gold from 106 metres.

T1 is defined as massive and stringer sulphide mineralisation, varying from 2-20 metres true thickness, commencing at ~50 metres below surface, extending to at least 120 metres below surface, and with a known strike extent of ~60 metres.

In September 2016, a significant copper intercepts discovered Mallee Bull North, located 300 metres from Mallee Bull.

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Tue, 09 May 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177481/peel-mining-hits-high-grades-with-met-testing-hole-177481.html
<![CDATA[News - Peel Mining receives multi-million dollar investment from gold producer ]]> http://www.proactiveinvestors.com.au/companies/news/175880/peel-mining-receives-multi-million-dollar-investment-from-gold-producer-175880.html Peel Mining (ASX:PEX) has revealed that ASX gold producer St Barbara (ASX:SBM) has taken a 9.5% stake in the company by subscribing for $3.28 million worth of placement shares.

The placement shares will be issued at $0.205 and increase Peel’s net cash position to more than $5.3 million.

The funds raised via the placement will allow for the acceleration of upcoming work programs including further drilling at Peel’s 100%-owned Wagga Tank VMS prospect.

Drilling at Wagga Tank is scheduled to recommence in April.

Rob Tyson, managing director, commented: “We are pleased to welcome a company of the calibre of St Barbara to the share register.

“St Barbara’s funding commitment provides further validation of our strong belief in the mineral potential of the Cobar Superbasin.”


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Wagga Tank

Wagga Tank is located 130 kilometres south of Cobar and 50 kilometres from Mallee Bull.

The project has been effectively landbanked by majors since last drilling in 1989.

42 historical drill holes included highlights of:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
- 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
- 25.9 metres at 8.74% zinc, 3.39% lead, 82 g/t silver from 141.6 metres;
- 15.7 metres at 10.39% zinc, 4.43% lead, 69 g/t silver from 215.6 metres;
- 24 metres at 2.73% copper, 0.56 g/t gold, 13 g/t silver from 86 metres; and
- 20.3 metres at 2.17% copper, 0.76 g/t gold, 9 g/t silver from 184.4 metres.

Peel’s maiden 18-drillhole program targeting primary mineralisation confirms historical data and 7 holes require extension.

Highlights included:

- 12 metres at 3.09% copper, 97 g/t silver, 1.36 g/t gold from 92 metres;
- 8 metres at 8.54% zinc, 6.20% lead, 134 g/t silver, 1.45% copper from 173 metres;
- 27 metres at 10% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres;
- 15 metres at 8.5% zinc, 4.11% lead, 114 g/t silver, 1.57 g/t gold, 0.3% copper from 280 metres;
- 17 metres at 2.65 g/t gold, 0.54% copper, 11 g/t silver from 211 metres; and
- 16 metres at 3.27 g/t gold, 0.35% copper, 1.1% zinc, 0.57% lead, 12 g/t silver from 226 metres.


Analysis

Attracting a company with the profile of St Barbara highlights the value of Peels portfolio of projects.

Significantly, the placement was conducted at a premium to the previous trading price.

Peel will be able to draw on St Barbara’s extensive experience in deep, underground gold mining at Gwalia.

This technical expertise is highly applicable to Cobar-style deposits, which typically show strong vertical continuity.

Peel is entering a busy period of exploration which secures upcoming exploration based news flow for shareholders.

Drilling at Wagga Tank is scheduled to recommence in April. Elsewhere, drilling is continuing at the JOGMEC-funded Wirlong copper discovery, while drilling recommenced last week at the T1 prospect at Mallee Bull targeting very high-grade zinc-lead-silver mineralisation for metallurgical test-work purposes.

Shares are up 26% after being released from their trading halt today.

During March 2017, a drill intersection at Wagga Tank was recognised by RSC Mining and Mineral Exploration as one of its 10 significant global drill results of the month.

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Tue, 04 Apr 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/175880/peel-mining-receives-multi-million-dollar-investment-from-gold-producer-175880.html
<![CDATA[News - Peel Mining gets ready to raise ]]> http://www.proactiveinvestors.com.au/companies/news/175790/peel-mining-gets-ready-to-raise-175790.html Peel Mining (ASX:PEX) has been granted a trading halt by the ASX, pending details of a capital raising.

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

The halt will remain in place until the opening of trade on Wednesday 5th April 2017, or earlier if an announcement is made to the market.


Portfolio

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.

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Mon, 03 Apr 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/175790/peel-mining-gets-ready-to-raise-175790.html
<![CDATA[News - Peel Mining drills out copper extensions at Wirlong ]]> http://www.proactiveinvestors.com.au/companies/news/175110/peel-mining-drills-out-copper-extensions-at-wirlong-175110.html Peel Mining (ASX:PEX) continues to have success drilling at its 60% owned Wirlong copper prospect located within the Cobar Superbasin project in New South Wales.

While assays are still pending, preliminary results from a new drill hole shows down-dip continuity to significant copper mineralisation, from near surface to ~600 metres below surface.

Down-hole electromagnetics undertaken on the recent hole indicates a significant electromagnetic conductor centred to the north of drill hole.

The next drill hole is now underway, which is designed to test down-dip from the recent hole.

Assays for the completed hole are pending and expected in about four weeks.


Drill hole WLRCDD043

Drill hole WLRCDD043 was designed to test for mineralisation at ~600 metres below surface, down dip of previous high-grade intersections including:

- 4.9 metres at 4.3% copper, 13 g/t silver from 402.1 metres and 22 metres at 1.0% copper, 4 g/t silver from 332 metres in WLRCDD015;
- 9 metres at 8.0% copper, 17 g/t silver, 0.21 g/t gold from 616 metres and 38 metres at 1.18% copper, 4 g/t silver from 450 metres in WLDDD001;
- 26 metres at 1.21% copper, 5 g/t silver from 227 metres in WLRCDD024; and
- 9 metres at 3.29% copper, 0.60% zinc, 18 g/t silver from 70 metres in WLRC035.

Significantly, WLRCDD043 intersected strong copper mineralisation, with preliminary logging showing a 16 metres zone from 749 metres comprising chalcopyrite-rich veins/stringers/breccia.

The encouraging initial indications have prompted the decision to drill another hole, WLRCDD044, testing down-dip from WLRCDD043, which is now underway.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Analysis

These drilling results continue to provide evidence that suggest indications of a Cobar-style deposit at Wirlong.

The recent drilling at Wirlong is part of ongoing investigations into the potential to host Cobar-style deposits, which are renowned for vertical continuity of mineralisation.

Australia’s highest grade copper mine, is an example of a Cobar-style deposit, showing strong vertical development of mineralisation to more than 2,000 metres below surface.

The mine has produced over one million tonnes of copper since commencement of modern mining around 1965.

Whilst substantively more investigation is required, indications of a Cobar-style analogue for Wirlong are promising.

Peel shares are up over 25% year to date, currently trading at $0.22.

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Tue, 21 Mar 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175110/peel-mining-drills-out-copper-extensions-at-wirlong-175110.html
<![CDATA[News - Peel Mining to reveal exploration update ]]> http://www.proactiveinvestors.com.au/companies/news/175031/peel-mining-to-reveal-exploration-update-175031.html Peel Mining (ASX:PEX) has been granted a trading halt by the ASX, pending details of an exploration update.

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

The halt will remain in place until the opening of trade on Wednesday 22nd March 2017, or earlier if an announcement is made to the market.

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Mon, 20 Mar 2017 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175031/peel-mining-to-reveal-exploration-update-175031.html
<![CDATA[News - Peel Mining confirms mineralisation with final batch of assays ]]> http://www.proactiveinvestors.com.au/companies/news/174728/peel-mining-confirms-mineralisation-with-final-batch-of-assays-174728.html Peel Mining (ASX:PEX) has received assays from its completed 18 hole drill program at its recently acquired 100%-owned Wagga Tank Project near Cobar in western New South Wales.

Initial drilling by Peel commenced in the December quarter for a total of 18 reverse circulation holes and 5 diamond tails for 4,788 metres.

All assays have now been received and have confirmed the historical drill results that featured strong evidence of a zinc-lead-silver-gold-copper mineralised system.

Results include 27 metres at 10.00% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres and mineralisation remains open along strike and at depth.

Seven drill-holes require diamond extensions with drilling anticipated to recommence late March or early April.


Drill result details

Results are part of Peel’s maiden drilling program at Wagga Tank, designed to confirm the presence of high grade base and precious metal mineralisation originally identified in the 1970-80s.

Significant new high-grade mineralisation and extensions to existing high-grade mineralisation have been identified, with results including:

- 27 metres at 10.00% zinc, 6.41% lead, 89 g/t silver, 0.42 g/t gold, 0.21% copper from 240 metres including 10 metres at 19.39% zinc, 12.35% lead, 171 g/t silver, 0.67 g/t gold, 0.30% copper;
- 16 metres at 3.27 g/t gold, 0.35% copper, 1.1% zinc, 0.57% lead, 12 g/t silver from 226 metres including 10 metres at 4.27 g/t gold, 0.37% copper, 0.88% zinc, 0.52% lead, 13 g/t silver; and
- 13 metres at 3.34 g/t gold, 0.83% copper, 0.77% zinc, 0.28% lead, 20 g/t silver from 299 metres including 6 metres at 6.90 g/t gold, 1.28% copper, 0.62% zinc, 0.21% lead, 29 g/t silver.

All assays for Peel’s maiden Wagga Tank drilling program completed prior to end calendar 2016, have now been reported.

Drilling at the Wagga Tank is anticipated to resume upon completion of drilling currently underway at the company’s 60%-owned Wirlong copper prospect.

The activity at Wirlong is expected to finish late March to early April.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Wagga Tank

Wagga Tank is 100% owned by Peel and was acquired for $40,000 and a 2% net smelter royalty.

It is a volcanic-hosted massive sulphide (VHMS) deposit located on the western edge of the Cobar Superbasin, 45 kilometres from Mallee Bull.

The deposit has had 42 historical holes drilled into it from 1989 including:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
⁻ 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
⁻ 30 metres at 1.93 g/t gold 24 g/t silver from 8 metres;
⁻ 25.9 metres at 8.74% zinc, 3.39% lead, 82 g/t silver from 141.6 metres;
⁻ 15.7 metres at 10.39% zinc, 4.43% lead, 69 g/t silver from 215.6 metres;
⁻ 18.15 metres at 5.86% zinc, 3.00% lead, 32 g/t silver, 1.01 g/t gold from 222.85 metres;
⁻ 24 metres at 2.73% copper, 0.56 g/t gold, 13 g/t silver from 86 metres;
⁻ 20.3 metres at 2.17% copper, 0.76 g/t gold, 9 g/t silver from 184.4 metres; and
⁻ 13.55 metres at 4.6% copper, 1.14 g/t gold, 470 g/t silver from 119.75 metres.


Analysis

The final batch of assays from the 2016 drilling program at Wagga Tank supports the emergence of the Wagga Tank VHMS deposit as a significant zinc-lead-silver-copper-gold mineralised system.

Results to date are encouraging with confirmation of very high-grade zinc-lead-silver rich massive sulphide style mineralisation, and strong gold-copper mineralisation, at relatively shallow depths.

Whilst further drilling is required, Peel believes that the intersection of several strong gold-copper intervals 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.

Shareholders continue to be leveraged to news flow from proven exploration targets that are advancing towards development in the Cobar Superbasin.

Peel has a track record of operating with low overheads and investing capital into the ground with circa 18,000 metres of drilling in 2016.

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Tue, 14 Mar 2017 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174728/peel-mining-confirms-mineralisation-with-final-batch-of-assays-174728.html
<![CDATA[News - Peel Mining is dominating the Cobar Superbasin ]]> http://www.proactiveinvestors.com.au/companies/news/174417/peel-mining-is-dominating-the-cobar-superbasin-174417.html Peel Mining (ASX:PEX) has the largest single company holding in the Cobar Superbasin of New South Wales comprising 3,777 square kilometres.

This tenure covers the bulk of historic metallic mineral occurrences in the southern half of Cobar Basin, considered highly prospective terrain.

Most prospects have received little exploration in modern times.

Peel has a strong discovery track record at its Cobar Superbasin projects with the discovery of the Wirlong copper deposit and the high-grade Mallee Bull copper-polymetallic deposit.

More recently, Peel has benefited from the emergence of the Wagga Tank volcanic-hosted massive sulphide (VHMS) deposit as a significant zinc-lead-silver-copper-gold mineralised system.


Background

Peel’s projects cover more than 5,000 square kilometres across New South Wales and Western Australia.

Projects include:

- Mallee Bull: An advanced copper polymetallic deposit that remains open in many directions;
- Cobar Superbasin: Farm-in agreement that offers funded strategic greenfields exploration potential along with the new Wirlong copper discovery;
- Wagga Tank: A polymetallic VHMS-type deposit with many significant intercepts;
- Apollo Hill: Exploration project that hosts a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike; and
- Attunga: A high grade tungsten deposit.


Mallee Bull

The Mallee Bull project is a 50:50 joint venture with CBH Resources Ltd and is Peel’s most advanced asset.

The discovery featured some of the most significant copper results reported anywhere in the world in 2012-13.

A maiden JORC resource was released in May 2014 of 3.9 million tonnes grading 2.3% copper, 32 g/t silver and 0.3 g/t gold.

Since then, a number of highly mineralised extensional intercepts have been drilled and extensional work programs are continuing at Mallee Bull.

Mineralisation remains open along strike, up and down dip.

Metallurgical flotation test-work has indicated copper recoveries of up to 95%.


Mallee Bull: Extensional discoveries

In May 2015, the T1 near-surface high-grade zinc-lead-silver-gold discovery was made.

The T1 target returned shallow, high-grade mineralisation including:

⁻ 12 metres at 35.1% lead-zinc, 308 g/t silver, 1.59 g/t gold from 83 metres;
⁻ 7 metres at 34.1% lead-zinc, 203 g/t silver, 0.58 g/t gold from 71 metres; and
⁻ 10 metres at 23.4% lead-zinc, 322 g/t silver, 1.28 g/t gold from 106 metres.

In September 2016, a significant copper intercepts discovered Mallee Bull North, located 300 metres from Mallee Bull.

Intercepts include:

⁻ 7 metres at 2.01% copper, 37 g/t silver, 0.15 g/t gold from 324 metres;
⁻9 metres at 2.24% copper, 27 g/t silver, 0.27 g/t gold from 455 metres;
⁻7 metres at 1.28% copper, 16 g/t silver, 1.89 g/t gold from 371 metres; and
⁻5 metres at 2.22% copper, 31 g/t silver, 0.09 g/t gold from 404 metres.

Closer to the current deposit, extensional intercepts intersected on the northern edge of the Mallee Bull resource include:

- 62 metres at 3.15% copper, 42 g/t silver, 0.28 g/t gold from 465 metres; and
- 13 metres at 0.86% copper, 33 g/t silver, 1.39 g/t gold from 407 metres.


Wagga Tank

Wagga Tank is 100% owned by Peel and was acquired for $40,000 and a 2% net smelter royalty.

It is a VHMS deposit located on the western edge of the Cobar Superbasin, 45 kilometres from Mallee Bull.

The deposit has had 42 historical holes drilled into it from 1989 including:

- 32 metres at 3.00 g/t gold, 24 g/t silver from 10 metres;
⁻ 20 metres at 3.11 g/t gold, 63 g/t silver from 28 metres;
⁻ 30 metres at 1.93 g/t gold 24 g/t silver from 8 metres;
⁻ 25.9 metres at 8.74% Zn, 3.39% lead, 82 g/t silver from 141.6 metres;
⁻ 15.7 metres at 10.39% Zn, 4.43% lead, 69 g/t silver from 215.6 metres;
⁻ 18.15 metres at 5.86% Zn, 3.00% lead, 32 g/t silver, 1.01 g/t gold from 222.85 metres;
⁻ 24 metres at 2.73% Cu, 0.56 g/t gold, 13 g/t silver from 86 metres;
⁻ 20.3 metres at 2.17% Cu, 0.76 g/t gold, 9 g/t silver from 184.4 metres; and
⁻ 13.55 metres at 4.6% Cu, 1.14 g/t gold, 470 g/t silver from 119.75 metres.

Initial drilling by Peel commenced in the December quarter for a total of 18 reverse circulation holes and 5 diamond tails for 4,788 metres.

The program has successfully confirmed the presence of high grade base and precious metal mineralisation originally identified at Wagga Tank.

Final assays remain pending.


Cobar Superbasin Project

The Cobar Superbasin Project is subject to a memorandum of agreement with Japan Oil, Gas, and Metals National Corporation (JOGMEC), under which JOGMEC may earn up to 50% interest by funding up to $7 million of exploration.

The Stage 1 expenditure commitments totalling $4 million were concluded in the September 2016 quarter, taking JOGMEC's interest in the project to 40%.

Stage 2, for an additional 10% interest through the spending of $3 million, has commenced.

The focus has been on the Wirlong and Red Shaft prospects where drilling has discovered high grade copper-silver-gold mineralisation.

Results include:

- 9 metres at 8.0% copper, 17 g/t silver, 0.21 g/t gold from 616 metres;
- 26 metres at 1.21% copper, 5 g/t silver from 227 metres; and
- 9 metres at 3.29% copper, 18 g/t silver from 70 metres.

Mineralisation has been defined from near-surface to more than 500 metres depth, along over 500 metres strike that remains open.

Further extensional drilling at Wirlong is underway.


Analysis

Importantly, Peel has a track record of operating with low overheads and investing capital into the ground with circa 18,000 metres of drilling in 2016.

Peel has a competent board and management that have made discoveries such as Mallee Bull, Wirlong and Red Shaft and have done value accretive deals such as Wagga Tank to deliver value to shareholders.

This has resulted in the company emerging as one of New South Wales’ predominant green fields explorers.

Shareholders are leveraged to news flow from proven exploration targets that are advancing towards development in the Cobar Superbasin.

The Cobar area hosts proven prospective geology, which features multiple high grade mineral deposits and long-life mining operations.

Due to its prospectivity, the area has good access to mining infrastructure and a supportive, mining-skilled community.

With a current share price of $0.175, Peel has a market cap of 26.5 million making for a compelling value proposition.

Peel is well funded to continue delivering drill-based news flow with $3.3 million in cash at the end of the December quarter.

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Wed, 08 Mar 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174417/peel-mining-is-dominating-the-cobar-superbasin-174417.html
<![CDATA[News - Peel Mining reveals base metal potential of New South Wales projects ]]> http://www.proactiveinvestors.com.au/companies/news/168230/peel-mining-reveals-base-metal-potential-of-new-south-wales-projects-168230.html The Drilling at Mallee Bull was designed to further test the recently discovered mineralisation at Mallee Bull North.

The drilling returned additional copper-dominant intercepts including:
- 5 metres at 2.22% copper, 31 g/t silver, 0.09 g/t gold from 404 metres; and
- 10 metres at 1% copper, 14 g/t silver, 0.07 g/t gold from 469 metres.

The Mallee Bull North area was identified following a review of electromagnetic surveys adjacent to an area of interest.

The drill results confirm that the conductor responsible for the electromagnetic anomaly is caused by significant copper mineralisation.

Further extensional drilling at Mallee Bull is planned to be completed prior to year-end.

At the Wagga Tank Project, Peel has completed six reverse circulation drill holes for 1,537 metres with a seventh drill hole currently in progress.

Whilst assays for all the holes remain pending, initial geological logging has confirmed the presence of significant zones of copper oxide/sulphide mineralisation and zinc-lead-silver sulphide mineralisation.

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Mon, 31 Oct 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168230/peel-mining-reveals-base-metal-potential-of-new-south-wales-projects-168230.html