Southern Nights / Wagga Tank
The 100%-owned Wagga Tank – Southern Nights project, located approximately 130km south of Cobar, consists of two high-grade zinc-dominant ore bodies and is the Company’s flagship project.
Wagga Tank – Southern Nights is a large-scale project hosting a volcanic massive sulphide (VMS)-style mineral system that has been defined over 2km of strike.
The two ore bodies remain open at depth and Peel is also inspecting a prospective corridor zone between the deposits which would further increase the size and scope of the project.
The Company has developed a strong exploration program at the project with more than 80,742m of reverse circulation and diamond drilling targeting the area.
Exploration results to date have been high-grade with Peel Mining announcing a Joint Ore Reserves Committee Code (JORC) Compliant Inferred Mineral Resource Estimate, released on March 2020 of:
- 4.95 million tonnes at 5% zinc
- 2% lead
- 78 g/t silver
- 0.30% copper
- 0.40 g/t gold
- $160/t NSR.