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.