Peel Mining Ltd is an Australian company focused on exploring and developing precious, base and specialty metals resources in New South Wales and Western Australia, Australia.
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Drilling intercepts from Mallee Bull have demonstrated some of the most impressive grade and widths encountered in recent times, confirming the deposit as one of the region’s most important discoveries. Two additional nearby prospects within the Cobar Superbasin demonstrate similar characteristics to Mallee Bull, providing significant opportunity for further positive news flow in the coming months.
Peel Mining (ASX: PEX) is an exploration company focused on projects located within Australia and New Zealand. The most advanced project is ‘Gilgunnia’ (PEX 50%, CBH earning 50%) which is located within the ‘Cobar Superbasin’ in central New South Wales. The project encompasses two licences areas; ML 1361 which hosts the historic May Day polymetallic deposit and EL7461 which hosts the ‘Mallee Bull’ polymetallic deposit and the ‘4-Mile’ goldfield (comprising ~60 historic shafts).
At Mallee Bull, recent drilling has intersected multiple broad widths of high grade mineralisation including 84m @ 4.42% Cu, 38 g/t Ag, 0.14 g/t Au. The orebody is interpreted to be open in multiple directions with ongoing exploration set to test possible extensions of the known mineralisation whilst also targeting the immediate area for potential new discoveries.
Peel also has a 100% interest in ~3,000km2 of exploration tenements within the Cobar Superbasin. Two early stage prospects; Mundoe and Sandy Creek, exhibit similar geochemical and geophysical characteristics to Mallee Bull when it was at the same stage of exploration. Polymetallic mineralisation has already been intercepted at both prospects with follow up drilling campaigns planned for the near future.
Peel Mining also has a strong pipeline of exploration projects prospective for silver, tungsten and gold, all at various stages of advancement, bringing welcome diversity to the portfolio.
Peel Mining has a portfolio of five highly prospective projects; four of which are located in Australia with the fifth located in New Zealand.
Official website: http://www.peelmining.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/PEX