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Peel Mining shares halted ahead of capital raising details

The company is on track to deliver a maiden JORC resource for the Wagga Tank Project this month.
toy blocks that read the word funding
Wagga Tank includes the Southern Nights polymetallic discovery

Peel Mining Ltd (ASX:PEX) has been granted a trading halt by the ASX pending the release of information regarding a capital raising.

Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trade on Thursday 6 June 2019.

READ: Peel Mining completes drilling, maiden JORC resource on track

Peel recently completed resource drilling at its emerging 100% owned Wagga Tank Project in western New South Wales.

The Wagga Tank project which includes Southern Nights discovery, is emerging as one of the most significant zinc polymetallic discoveries in Australia in recent years.

Final assay data for the Wagga Tank-Southern Nights resource definition drilling program has been received and Peel is on track to deliver a maiden JORC resource estimate in June.

Highlights from recent assays include 88 metres at 3.13% zinc, 1.09% lead and 26 g/t silver from 407 metres and 42.78 metres at 5.38% zinc, 2.71% lead, 0.21% copper, 80 g/t silver and 0.42 g/t sold from 249.22 metres.

Notably, the deeper intersections have highlighted the continuity at depth, which is typical of Cobar-style deposits.

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