ASX-listed exploration company Peel Mining (ASX:PEX) continues to intersect more high-grade zinc at its Wagga Tank project in central New South Wales, with the prospector announcing a raft of high-grade hits.
The latest round of exploration from its Southern Nights prospect has unearthed a top result of 15m at 12.35% zinc, accompanied with a further 6.13% lead, 0.56% copper, 128 g/t silver and 0.6 g/t gold from a depth of 356 metres.
Peel is crowning Southern Nights as one of the nation’s most interesting prospects, noting that the site is “emerging as one of the most significant zinc polymetallic discoveries in Australia in recent years.”
Other notable assays include 11m at 28.35% zinc, 14.84% lead, 0.46% copper, 380 g/t silver and 1.56 g/t Au from 218 metres.
The significant results add further intrigue for investors eyeing the Wagga Tank project, with the latest round of drilling occurring along a continuous mineralised zone, down dip from previous results.
Further holes have also confirmed the location of a new prospective zone approximately 40 metres north and along strike from previous drilling.
Current drilling activities continue to inspect the site as part of a 20,000m campaign using both reverse-circulation and diamond core drilling.
Peel has said the exploration campaign is testing for extensions to the mineralised system, which remains open along strike and at depth, with results to enable the completion of a maiden JORC resource estimate.
The Company has said it anticipates releasing the maiden resource by the end of the current financial year.
