Overview of Wagga Tank drilling results

Peel Mining Limited (ASX:PEX) has confirmed the presence of strong supergene copper and oxide gold mineralisation at Wagga Tank, with recent drilling assays revealing significant mineralisation outside the existing resource. The company's Technical Director, Rob Tyson, commented that the results point to a robust, near-surface growth opportunity for the deposit. The Wagga Tank-Southern Nights deposit, located within Peel's 100%-owned EL6695 tenement, has combined Indicated-Inferred Resources of 6.83Mt @ 3.92% Zn, 1.52% Pb, 0.24% Cu, 62g/t Ag and 0.30g/t Au, forming an integral part of Peel's South Cobar Project.

Executive commentary on Wagga Tank drilling results

The assays returned from recent drilling at Wagga Tank confirm the presence of strong copper, gold and silver supergene and oxide mineralisation - the primary objective of the drill program. This mineralisation sits above and adjacent to the current Wagga Tank mineral resource pointing to a robust, near-surface growth opportunity for the deposit. These results in combination with the recently reported new sulphide mineralisation returned from WTRC255 highlight the potential of further exploration at Wagga Tank, particularly immediately along strike to the north where limited effective historic drilling has occurred. Follow-up drill planning is underway and is anticipated to take place later this quarter.

Summary of Wagga Tank drilling results and outlook

The recent drilling at Wagga Tank has unveiled significant supergene copper and oxide gold mineralisation outside the existing resource, indicating a promising near-surface growth opportunity for Peel Mining. The company's Technical Director, Rob Tyson, highlighted the potential for further exploration, particularly along strike to the north where limited effective historic drilling has occurred. The Wagga Tank-Southern Nights deposit forms a crucial part of Peel's South Cobar Project and presents a major polymetallic VMS-style mineral system. With follow-up drill planning underway, Peel Mining aims to capitalize on the exploration potential and leverage the robust mineralisation revealed by the recent assays.