Peel Mining Unveils Strong Gold Hits at Nombinnie, Secures $115K in Grants

Encouraging Early Drilling Results at Nombinnie

Peel Mining Limited (ASX, PEX) has reported the completion of a 20-hole reverse circulation drilling program at its Nombinnie gold prospect in New South Wales, delivering early assay results that confirm the presence of significant shallow gold mineralisation. Located approximately 7km west of Mount Hope, the Nombinnie prospect has a history of exploration dating back to the 1970s and 1980s, but Peel’s recent work has begun to validate its potential as a meaningful gold target.

Of the first nine drillholes assayed, five intercepted notable gold mineralisation, highlighted by a standout intercept of 33 metres grading 2.47 grams per tonne gold starting at just 21 metres depth. This includes higher-grade zones such as 9 metres at 5.32 grams per tonne within the same hole. These results suggest a robust mineralised system that remains open for further expansion, particularly to the north.

Pending Assays and Ongoing Exploration

While these initial results are promising, assays from the remaining 11 drillholes are still awaited and expected to be released before the Christmas period. Peel is also advancing follow-up drilling at other prospects within its portfolio, including a recently completed hole at Chuchi and a diamond tail drillhole underway at May Day, targeting potential extensions of mineralisation at depth.

This ongoing exploration activity underscores Peel’s commitment to systematically testing and expanding its gold and critical minerals footprint in the region, with further programs planned into the first half of 2026.

Strategic Boost from NSW Government Grants

Complementing its drilling progress, Peel Mining has secured six grants under the NSW Government’s Critical Minerals and High-Tech Metals Exploration Program, totaling $115,000. These grants provide co-investment funding to accelerate Peel’s exploration efforts across its Cobar Basin assets, specifically supporting geochemical soil sampling and geophysical surveys at multiple prospects including Glenwood, Mount Victor, Salt Creek, Armageddon, and Red Shaft.

The combined investment, including Peel’s own contribution, exceeds $230,000, enabling a more comprehensive and high-impact exploration campaign scheduled to commence in late 2025 and continue through 2026. This government backing not only validates Peel’s exploration strategy but also aligns with broader state initiatives to bolster critical minerals supply chains.

Looking Ahead

Managing Director Nick Woolrych emphasised the significance of the early Nombinnie results and the grant awards, noting that these developments enhance Peel’s organic growth prospects and position the company well within the critical minerals sector. As Peel awaits the full suite of assay results and advances its exploration programs, investors and industry watchers will be keen to see how these findings translate into resource growth and potential future development opportunities.