- Peel Mining (PEX) has finds further high-grade copper and zinc-lead mineralisation at its Mallee Bull deposit in Cobar, NSW
- Resource drilling has recently been completed at the project, confirming strong copper and zinc-lead mineralisation
- Peel is currently aiming to convert the project from an inferred classification resource to an indicated classification
- On the market, Peel is in the grey and is trading at 22.5 cents per share at 1:24 pm AEST
Peel Mining (PEX) has found further high-grade copper and zinc-lead mineralised intercepts at its Mallee Bull deposit in Cobar, NSW.
Recent resource drilling at Mallee Bull has been completed and continued to confirm strong copper and zinc-lead mineralisation.
Results from the drilling include 21 metres at 2.03 per cent copper, 38 grams of gold per tonne (g/t), 1.25g/t of silver from 319 metres and 7.85 metres at 17.72 per cent zinc, 18.13 per cent lead, 127g/t gold, 0.34 per cent copper and 0.58g/t silver.
Peel is currently aiming to convert the project from an inferred classification resource to an indicated classification.
Managing Director, Rob Tyson, said the latest results is “another exciting development.”
“This mineralisation is in the hanging wall, similar to that seen in the near-surface very high-grade Silver Ray zinc-lead-silver lens, and likely represents a down plunge repetition,” Mr Tyson said. “Importantly, several other drillholes nearby have returned similar mineralisation providing continuity between intercepts.
“Drilling at Mallee Bull continues to advance well with ~55% of the resource definition program now completed. We expect to receive further results in the coming weeks.”
On the market, Peel was in the grey, trading at 22.5 cents per share at 1:24 pm AEST.