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Peel Mining kicks off reverse circulation drilling at Siegals Prospect near Cobar, New South Wales

The proposed drill-hole locations have been sited to test for the potential of massive sulphide-associated gold-zinc-lead-copper-silver mineralisation.

Peel Mining Ltd - Peel Mining kicks off reverse circulation drilling at Siegals Prospect near Cobar in western NSW
The planned drilling is also designed to gather further information on the geological setting and alteration, and mineralisation style

Peel Mining Ltd (ASX:PEX) has started reverse circulation drilling at its 100%-owned Siegals Prospect, near Cobar in western New South Wales.

The program, comprising about 2,000 metres of RC drilling in up to 9 drill holes initially, has been designed primarily to test significant electromagnetic anomalies.

The planned drilling is also designed to gather further information on the geological setting and alteration, and mineralisation style.

The proposed drill-hole locations have been sited to test for the potential of massive sulphide-associated gold-zinc-lead-copper-silver mineralisation.

Funding

In support of the drilling at Siegals, Peel has been awarded up to $200,000 via the NSW Government-funded New Frontiers Cooperative Drilling program.

Peel will be reimbursed for 50% of its direct inground drilling costs, subject to the execution of the funding deed and completion of drilling and associated reports.

Further information on the Siegals program will be released as results are received and analysed.

Siegals is located near the western edge of the Cobar Superbasin, about 110 kilometres south of Cobar or around 35 kilometres north of Mount Hope.

It represents a polymetallic VMS-type target with historic workings, significant geophysical and geochemical anomalies, and significant historic drill intercepts.

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