Peel Mining Limited (ASX:PEX) continues to return strong intercepts with its multi-rig drilling campaign at its 100%-owned Wagga Tank project, south of Cobar in western New South Wales.
The company has reported that geological logging and portable XRF analyses in the latest drilling campaign at the Corridor Zone have confirmed significant zones of variable pyrite-sphalerite-galena rich sulphides comprising massive, semi-massive and breccia/stringer style mineralisation.
The latest hole, WTRCDD141, intersected significant zinc-lead rich mineralisation from ~554m to ~594m downhole, including several zones of strong massive zinc-lead rich mineralisation.
WTRCD141 then intersected significant zinc-lead rich mineralisation from ~505m to ~508m downhole, and from ~580m to ~619m downhole, including several zones of strong massive zinc-lead rich mineralisation.
Drilling at Wagga Tank resumed in late August with two multi-purpose (RC/diamond) drill rigs and is to comprise ~10,000m drilling primarily designed to progress the project towards development.
This latest drilling campaign in the Corridor Zone was designed to follow-up drill-hole WTRCDD123, where a significant massive sulphide mineralised intercept (14.45m @ 2.43% Cu, 2.67 g/t Au, 123 g/t Ag, 2.58% Zn, 0.87% Pb from 435.55m) was previously returned.
Peel Managing Director, Rob Tyson, said drillhole WTRCDD141 was originally drilled in July 2018 to a depth of ~430m on a westerly (270o) azimuth, however a review of this drillhole indicated that it hadn’t intersected the hanging wall Wagga Tank formation, and was a good candidate to extend to test the offhole DHEM anomaly and for potential downdip/along strike extensions to the intercept in WTRCDD123.
WTRCD141 was extended to a total depth of 822.8m and intersected significant zones of variable pyrite-sphalerite-galena rich sulphides including massive, semi-massive and breccia/stringer sulphide zinc-lead rich mineralisation from ~554m to ~594m downhole. The mineralised intersection in WTRCDD141 lies ~60m south and ~80m down dip from the mineralised intercept in WTRCD123.
