Peel Mining Limited (ASX: PEX) has resumed drilling at its 100%-owned Wagga Tank-Southern Nights project, south of Cobar in western New South Wales.
Two multi-purpose RC/diamond drill rigs recently commencing activity on site aimed at progressing the Wagga Tank-Southern Nights Project towards development.
Peel recently published a maiden Indicated and Inferred Mineral Resource Estimate (MRE) for Wagga Tank- Southern Nights of 3.8Mt @ 5.5% Zn, 2.1% Pb, 75 g/t Ag, 0.27% Cu and 0.31 g/t Au for 9.2% Zinc Equivalent .
Rob Tyson, Peel Mining’s managing director, said the new drilling programme will comprise ~10,000m of RC and diamond drilling and will primarily target higher grade areas of Inferred Resource with the aim of increasing confidence in these areas by converting further mineralisation to Indicated Resource classification.
Drilling will focus initially on Wagga Tank where the quality of historical drilling impacted the resource confidence in the recently released Maiden MRE. Infill drilling combined with drilling to confirm historical high-grade intercepts presents a good opportunity to rapidly improve the scale and quality of the Wagga Tank Mineral Resource.
Further infill drilling at Southern Nights will target higher-grade Inferred Resources to continue to improve resource confidence. In addition, step out drilling has been planned along strike and downdip of the main resource area, testing for extensions to grow the overall resource base.
Drilling is also planned within the Corridor Zone (between Wagga Tank and Southern Nights) targeting an offhole electromagnetic conductor associated with a massive sulphide drill intercept of 14.45m @ 2.43% Cu, 2.67 g/t Au, 123 g/t Ag, 2.58% Zn, 0.87% Pb from 435.55m.