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Peel Mining confirms significant new drilling intersects at Wagga Tank project

Drilling at Wagga Tank-Southern Nights remains ongoing as part of a resource upgrade program and will include further testing in the Corridor Zone.

Peel Mining Ltd - Peel Mining confirms significant new drilling intersects at Wagga Tank project
Geological logging and portable XRF analyses confirm significant zones of mineralisation

Peel Mining Ltd (ASX:PEX) has revealed new encouraging drilling results from its Wagga Tank project, south of Cobar in western New South Wales.

Drilling at Wagga Tank resumed in late August with two multi-purpose (RC/diamond) drill rigs and will comprise about 10,000 metres of drilling primarily designed to progress the project towards development.

Background

In July 2019, a maiden resource estimate for Wagga Tank-Southern Nights of 3.8 million tonnes at 5.5% zinc, 2.1% lead, 75 g/t silver, 0.27% copper and 0.31 g/t gold or 9.2% zinc equivalent was published.

Since recommencement, drilling has targeted both Wagga Tank and the Corridor Zone (located between Wagga Tank and Southern Nights).

Drilling in the Corridor Zone was designed to follow-up drillhole WTRCDD123, where a significant massive sulphide mineralised intersection was previously returned.

New mineralised intersections

Drill hole WTRCDD141 at Corridor Zone was originally drilled in July 2018 to a depth of about 430 metre.

This whole has been now extended to a total depth of 822.8 metres and intersected significant zones of variable pyrite-sphalerite-galena rich sulphides including massive, semi-massive and breccia/stringer sulphide zinc-lead rich mineralisation from ~554 metres to ~594 metres downhole.

WTRCDD141: 557 metres to 559 metres

WTRCDD141W1 intersected significant zones of variable pyrite-sphalerite-galena rich sulphides including massive, semi-massive and breccia/stringer sulphide mineralisation ~505 metres to ~508 metres downhole, and from ~580 metres to ~619 metres downhole.

WTRCDD141 and WTRCDD141W1 also intersected significant zones of stringer/vein-style chalcopyrite mineralisation from ~530 metres to ~533 metres and ~513 metres to ~527 metres respectively.

This copper mineralisation is interpreted to be responsible for WTRCDD123’s offhole DHEM anomaly.

Interconnected deposits

The intersections in WTRCDD123, WTRCD141 and WTRCD141W1 are considered highly important as they provide further support that the Wagga Tank and Southern Nights deposits are interconnected, and like other significant Volcanogenic Massive Sulphide deposits, mineralisation is likely to cluster and stack in multiple lenses.

Whilst the geometry of the mineralised zones remains complex, it is believed that mineralisation is likely to be sub-vertical/steeply dipping to the west and therefore the true width on the above intersections would be ~40-50% of the downhole widths.

Drilling in the Corridor Zone is continuing at the time of reporting and assay results will be reported as they come become available.

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Peel Mining 'on time and on budget' to reveal maiden resource at Wagga Tank

Peel Mining Ltd (ASX:PEX) managing director Rob Tyson visits the Proactive Perth studio to discuss the latest results from ongoing drilling at the Wagga Tank zinc-polymetallic project in Western NSW. Three drill rigs are active on site, with a maiden JORC resource slated to be revealed in...

on 25/1/19

3 min read