Peel Mining announced that it has discovered of a broad zone of Cobar style mineralization including an intersection of: 48 meters at 0.74% copper, 24 gram per tonne silver, 0.21 gram per tonne gold, 0.48% lead, 0.49% zinc from drilling at May Day in New South Wales.

To have encountered these grades and widths of Cobar style copper polymetallic mineralization in the heart of one of the world’s great mining provinces would be a filip to the company.

The 55 meters alteration zone of copper, silver, gold, lead, zinc mineralization was intersected from 215 meters down hole to end of hole in follow up drilling targeting a new electromagnetic conductor at the 4 Mile prospect located about 100 kilometers south of Cobar.

Highlights include:
1. 4 meters at 3.59 grams per tonne gram per tonne gold from 184 meters;
2. 1 meters at 1.65% Cu, 96 gram per tonne Ag, 1.48 gram per tonne Au, 9.99% Pb, 2.00% Zn from 219 meters and
3. 4 meters at 1.42% Cu, 18 gram per tonne Ag, 0.21 gram per tonne Au, 0.39% Pb, 0.20% Zn from 226 meters.

The latest drilling comprised four new reverse circulation drill holes on an east west line following up on the discovery of significant silver, lead and zinc mineralization in March and April. Significantly, down hole EM results indicate potential for further mineralization below the drill hole and follow up drilling will commence shortly.

Mr Rob Tyson MD of Peel said that “We obviously had high hopes for the prospectivity of this area following the significant silver, lead and zinc mineralization which we intersected in drilling in May this year. Follow up drilling at 4 mile will now be a priority for us over the coming weeks and months.”

(Sourced from www.proactiveinvestors.com.au)