Peel Mining has initiated a 9-hole drilling program at its Southern Nights Complex in NSW, targeting expansion of its significant silver-rich polymetallic resource. The campaign aims to unlock new high-grade zones and enhance geological insights within the South Cobar Project.
- 9-hole, 4,625m drilling program underway at Southern Nights Complex
- Targets include Link Zone, Link Zone South, Southern Nights West, and Wagga Tank South
- Southern Nights hosts 16.8Moz silver, 277kt zinc, 131koz gold, 34kt copper, 119kt lead
- Drilling designed to expand resource base and discover new mineralisation zones
- Program supports future resource updates and development studies
Drilling Commences at a Key Polymetallic Asset
Peel Mining Limited (ASX – PEX) has kicked off a focused drilling campaign at its Southern Nights Complex (SNC), located about 130 kilometres southwest of Cobar in New South Wales. This nine-hole program, totalling approximately 4,625 metres, combines reverse circulation and diamond drilling methods to test multiple high-grade targets across the Link Zone, Link Zone South, Southern Nights West, and Wagga Tank South.
The Southern Nights Complex is a standout asset within Peel’s South Cobar Project portfolio, already hosting a substantial polymetallic resource rich in silver, zinc, lead, gold, and copper. With an existing Mineral Resource Estimate containing nearly 17 million ounces of silver alongside significant quantities of base and precious metals, the SNC offers strong leverage to rising global demand for critical minerals.
Aiming to Expand and Upgrade the Resource
The current drilling campaign is designed to build on previous successes by expanding the scale and confidence of mineralisation. Peel is targeting step-out extensions adjacent to known high-grade massive sulphide intercepts, as well as testing new geophysical anomalies that could reveal additional sulphide lenses. The program also aims to deepen geological understanding of the structural controls on mineralisation, which is crucial for future resource modelling and development planning.
Historical drilling results at the SNC have delivered impressive intercepts, including intervals with zinc grades exceeding 6%, lead above 2%, and silver concentrations reaching over 150 grams per tonne. These high-tenor polymetallic sulphide bodies are characteristic of the prolific Cobar Basin mineral systems and underpin the potential for further resource growth.
Strategic Importance Amid Rising Silver Demand
Managing Director and CEO Nick Woolrych emphasised the strategic value of the Southern Nights Complex, highlighting its role in Peel’s exploration portfolio. He noted the timing is favourable given the increasing global demand for silver, a metal critical to emerging technologies and renewable energy applications. The drilling program is positioned to significantly enhance the mineralised footprint and potentially elevate the project’s scale and significance within the region.
Peel’s methodical approach to exploration at SNC, with each campaign confirming new extensions and high-grade zones, suggests a long-life growth project with considerable upside. The results from this drilling round will be closely watched by investors and industry observers as they could materially impact the project’s valuation and development trajectory.
Bottom Line?
Peel Mining’s drilling at Southern Nights could redefine the scale of one of Australia’s most promising silver-rich polymetallic deposits.
Questions in the middle?
- When can investors expect initial assay results and resource updates from this drilling campaign?
- How might new discoveries at Southern Nights influence Peel Mining’s development timeline and capital requirements?
- What are the key geological uncertainties that could affect the expansion potential of the Southern Nights resource?