Overview of recent drilling results at Ambergris prospect

Peel Mining Limited (ASX: $PEX) has recently confirmed significant lead-zinc-copper-silver-gold mineralisation at the Ambergris prospect through reconnaissance drilling. The drilling, which included nine RC drillholes for 2,574m, returned broad intervals of base and precious metals mineralisation, with notable results from AMRC006, AMRC007, and AMRC008 drillholes.

Executive commentary on Ambergris prospect drilling results

The assay results from the recent reconnaissance drilling at Ambergris have confirmed the prospect's potential to host significant mineralisation, yielding broad intervals of base and precious metals mineralisation indicative of a substantial hydrothermal system. These initial results are akin to those seen in the early stages of exploration at other Cobar deposits, such as Mallee Bull. Planning is now underway to follow up the recent results to further advance this encouraging target.

Summary of Ambergris prospect drilling and future plans

The recent reconnaissance drilling at Peel Mining's Ambergris prospect has confirmed the presence of significant lead-zinc-copper-silver-gold mineralisation, indicating the prospect's potential to host substantial mineral resources. The company's technical director, Rob Tyson, highlighted the similarities of these results to early exploration stages at other Cobar deposits, demonstrating the promising nature of the findings. Peel Mining is now planning to advance the target further based on these encouraging results, with follow-up exploration and planning underway, including infill and extensional surface geochemical surveying and a downhole electromagnetic survey in the near future to search for potential conductor(s). The company's commitment to further exploration and the potential for additional mineralisation underscores its ambitions for the Ambergris prospect.