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Peel Mining drilling confirms new high-grade mineralised zone at Southern Nights

Robust drilling results continue to strengthen the company’s geological confidence and expand the potential mining inventory.

Peel Mining Ltd - Peel Mining drilling confirms new high-grade mineralised zone at Southern Nights
Sphalerite-galena-pyrite massive sulphide from drill hole WTRCDD229

Peel Mining Ltd (ASX:PEX) has confirmed the discovery of a new high-grade zone from an ongoing resource upgrade drilling program at the Wagga Tank-Southern Nights project in NSW.

The new high-grade zone is at the southern end of the Southern Nights deposit and has been confirmed with drill hole WTRCDD229 returning very strong assay results, including:

  • 44 metres at 7.39% zinc, 2.95% lead, 76 g/t silver, 0.43 g/t gold, 0.1% copper from 233 metres (including 5.95 metres at 35.5% zinc, 16.9% lead, 447 g/t silver, 0.97 g/t gold 0.37% copper from 233.88 metres).

Drillhole WTRCDD238 located about 35 metres south of WTRCDD229 also intersected broad strong mineralisation with assays pending.

Wagga Tank-Southern Nights long section

Peel managing director Rob Tyson said: “The intercepts in drillholes WTRCDD229 and WTRCDD238 confirm the existence of another zone of very high grade mineralisation, like that seen in the Southern Nights Central Zone.

“These intercepts will add important tonnes and grade to the upcoming resource update whilst offering future exploration upside through step-out drilling.”

Wagga Tank and Southern Nights Central Zone drilling

Southern Nights Central Zone infill drilling results continue to add confidence to the geological model with significant assay results recently received, including:

  • 40.4 metres at 7.25% zinc, 3.34% lead, 95 g/t silver, 0.89% copper, 0.87 g/t gold from 352 metres in WTRCDD222.

All Wagga Tank infill drilling results have now been received adding further confidence to the geological model.

Assay results recently received include 8.6 metres at 2.72% copper, 3.73 g/t gold, 15 g/t silver, 0.26% zinc, 0.37% lead from 202.4 metres.

Tyson added: “We are also very pleased to see robust infill drilling results from both Wagga Tank and Southern Nights Central Zone, which continue to strengthen our geological confidence and expand the potential mining inventory in these deposits.”

Updated resource expected in March quarter 2020

An updated resource is anticipated for March quarter 2020 to progress the project towards development with a concept study.

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

Planned drilling at Wagga Tank and the Corridor Zone is now complete, with further drilling on the main Southern Nights area subject to a review over the Christmas and New Year period.

Quick facts: Peel Mining Ltd

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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

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